SPRINGDALE, Ark. (AP) _ Tyson Foods Inc. (TSN) on Monday reported fiscal third-quarter profit of $527 million.
On a per-share basis, the Springdale, Arkansas-based company said it had profit of $1.44. Earnings, adjusted for non-recurring gains, came to $1.40 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
The meat producer posted revenue of $10.02 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $10.6 billion.
Tyson shares have dropped 33% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 1%. The stock has decreased 24% in the last 12 months.