Tyson Reports Stronger Sales than Expected and Realogy Holdings Corp. Sales Slow Down
Tyson Foods, Inc. (NYSE: TSN) released a disappointing earnings report and came up short on the bottom line. The company posted earnings of $0.60 against expectations of $0.63. Sales however were stronger than expected, increasing 7.7% to $9.03 billion whicih beat estimates of $8.84 billion. As far as the company's outlook, Tyson expected domestic protein production to be down 1% for the fiscal year, primarily because of reduced hog supplies, which are expected to fall 4%-5% because of a deadly hog virus.
Tyson Foods, Inc., together with its subsidiaries, produces, distributes, and markets chicken, beef, pork, prepared foods, and related allied products worldwide. It operates in four segments: Chicken, Beef, Pork, and Prepared Foods. The companys Chicken segment breeds and raises chickens; and processes live chickens into fresh, frozen, and value-added chicken products. Its Beef segment processes live fed cattle; fabricates dressed beef carcasses into primal and sub-primal meat cuts and case-ready products; and sells hides and meats. The companys Pork segment is involved in the processing of live market hogs and allied products; and fabricating pork carcasses into primal and sub-primal cuts and case-ready products.
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Realogy Holdings Corp. (NYSE: RLGY) fell the most on record after reporting a sales slow down. Shares dropped the most on May 5th since the company's initial public offering in October 2012. The owner of brokerage brands Coldwell Banker and Century 21, fell the most on record after reporting a slowdown in sales. The company also said the slow down expects to persist this year as the U.S. housing recovery cools. Realogy said the number of transaction customers for its franchise group declined 3 percent in the first quarter from a year earlier and fell 2 percent for the NRT brokerage unit.
Realogy Holdings Corp. provides real estate and relocation services worldwide. The companys Real Estate Franchise Services segment franchise its real estate brokerage franchise systems under the Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sothebys International Realty, and Better Homes and Gardens Real Estate brand names to real estate brokerage businesses. As of December 31, 2013, this segments real estate franchise systems had approximately 13,700 offices worldwide; and approximately 247,800 independent sales associates worldwide. Its Company Owned Real Estate Brokerage Services segment owns and operates a full-service real estate brokerage business primarily under the Coldwell Banker, Sothebys International Realty, ERA, The Corcoran Group, and Citi Habitats brand names to assist home buyers and sellers in listing, marketing, selling, and finding homes.
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