Tyson Foods Quarterly Profit Jumps 28.6%

Industries Reuters

Tyson Foods, the biggest U.S. meat processor, reported a 28.6 percent rise in quarterly profit, helped by higher exports of beef and pork and lower livestock costs.

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Net income attributable to Tyson rose to $593 million, or $1.59 per share, in the first quarter ended Dec. 31, from $461 million, or $1.15 per share, a year earlier.

Sales rose marginally to $9.18 billion from $9.15 billion.

Tyson's shares were up 7.8 percent at $70.50 in premarket trading on Monday.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Sriraj Kalluvila)