Tyson Posts Disappointing Q1 Profit

The meat producer took in nearly $13.3 billion in revenue.

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SPRINGDALE, Ark. (AP) — Tyson Foods Inc. on Monday reported fiscal first-quarter profit of $316 million.

On a per-share basis, the Arkansas-based company said it had profit of 88 cents. Earnings, adjusted for non-recurring gains, came to 85 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.

The meat producer posted revenue of $13.26 billion in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $13.11 billion.

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

Shares of Tyson fell $2.95 to $61.08 in Monday trading.

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