Investing.com - Tate&Lyle reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Tate&Lyle announced earnings per share of £24.9 on revenue of £1,375M. Analysts polled by Investing.com anticipated EPS of £25.92 on revenue of £728M.
Tate&Lyle shares are up 14% from the beginning of the year and are trading at £761.00 , down-from-52-week-high.They are outperforming the STOXX 600 which is down 10.16% from the start of the year.
Tate&Lyle shares gained 2.01% in intra-day trade the report.
Tate&Lyle follows other major Consumer Staples sector earnings this month
Tate&Lyle's report follows an earnings missed by Imperial Brands on May 17, who reported EPS of £1.05 on revenue of £15.36B, compared to forecasts EPS of £102.98 on revenue of £3,993M.
Coca Cola HBC AG had beat expectations on May 12 with first quarter EPS of £0.2655 on revenue of £1.77B, compared to forecast for EPS of £0.2606 on revenue of £1.62B.
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