Tyson Foods Beats Expectations For Fourth Quarter Earnings

SPRINGDALE, AR — Tyson Foods Inc. reported fiscal fourth-quarter net income Monday of $394 million.

The Springdale, Arkansas-based company said it had profit of $1.07 per share. Earnings, adjusted for restructuring costs and asset impairment costs, were $1.43 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.

The meat producer posted revenue of $10.15 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $9.95 billion. For the year, the company said profit was nearly unchanged at $1.77 billion. Annual earnings per share rose to $4.79 from $4.53. Revenue was reported as $38.26 billion.

Tyson expects full-year earnings in the range of $5.70 to $5.85 per share.

Tyson shares have climbed 20 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 15 percent. The stock has risen 11 percent in the last 12 months.

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