Meat producer to close four chicken facilities and booked goodwill impairment charges in its fiscal third quarter.
Tyson Foods Inc.’s stock fell 6% premarket Monday, after the chicken, beef and pork producer swung to a loss for its fiscal third quarter, weighed down by impairment charges.
The company TSN had a net loss of $417 million, or $1.18 a share, for the quarter to July 1, after earnings of $750 million, or $2.07 a share, in the year-ago period. Excluding one-time items, the company’s adjusted per-share earnings came to 15 cents, below the 26-cent FactSet consensus. The company booked a goodwill impairment charge of $210 million in its chicken segment and $238 million in international/other segment in the third quarter.
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