Tyson third-quarter profit rises 4.4 percent
Tyson Foods Inc. (TSN) on Monday reported net income that rose by 4.4 percent in its fiscal third quarter, and fell short of analysts' expectations.
The Springdale, Arkansas-based company said earnings increased to $260 million, or 73 cents per share, from $249 million, or 68 cents per share, in the same quarter a year earlier.
Earnings, adjusted for non-recurring costs, were 75 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The company said revenue climbed 11 percent to $9.68 billion from $8.73 billion in the same quarter a year ago.
Tyson Foods shares have increased $6.08, or 18 percent, to $39.54 since the beginning of the year, while the Standard & Poor's 500 index has increased 7 percent. The stock has risen $12.39, or 46 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full TSN report: http://www.zacks.com/ap/TSN