Tyson Misses 3Q Profit Forecasts

Tyson Foods Inc. on Monday reported fiscal third-quarter net income of $343 million.

SPRINGDALE, Ark. (AP) — Tyson Foods Inc. (TSN) on Monday reported fiscal third-quarter net income of $343 million.

On a per-share basis, the Springdale, Arkansas-based company said it had net income of 83 cents. Earnings, adjusted for non-recurring gains, came to 80 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.

The meat producer posted revenue of $10.07 billion in the period.

Tyson expects full-year earnings in the range of $3.10 to $3.20 per share.

Tyson shares have risen 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. The stock has increased 20 percent in the last 12 months.

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