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Tyson Foods fiscal Q2 profit climbs 43.3% YOY

Tyson Foods Inc. said its normalized net income for the fiscal second quarter ended March 28 amounted to 75 cents per share, compared with the S&P Capital IQ consensus estimate of 72 cents per share.

EPS climbed 22.9% year over year from 61 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $309.6 million, an increase of 43.3% from $216.1 million in the year-earlier period.

The normalized profit margin rose to 3.1% from 2.4% in the year-earlier period.

Total revenue climbed 10.5% on an annual basis to $9.98 billion from $9.03 billion, and total operating expenses grew 8.6% from the prior-year period to $9.42 billion from $8.67 billion.

Reported net income increased 45.7% on an annual basis to $311.3 million, or 75 cents per share, from $213.6 million, or 60 cents per share.