Tyson Posts Mixed Q3 Results

The meat producer reported $13.74 billion in revenue.

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SPRINGDALE, Ark. (AP) — Tyson Foods Inc. on Monday reported fiscal fourth-quarter net income of $538 million.

On a per-share basis, the Arkansas-based company said it had profit of $1.50. Earnings, adjusted for non-recurring costs, were $1.63 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.

The meat producer also posted revenue of $13.74 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $13.29 billion.

For the year, the company reported profit of $3.24 billion, or $8.92 per share. Revenue was reported as $53.28 billion.

Tyson expects full-year revenue in the range of $55 billion to $57 billion.

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