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Tyson Foods fiscal Q1 profit climbs 10.5% YOY

Tyson Foods Inc. said its normalized net income for the fiscal first quarter ended Dec. 27, 2014, came to 65 cents per share, compared with the S&P Capital IQ consensus estimate of 73 cents per share.

EPS decreased 6.0% year over year from 69 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $270.9 million, a gain of 10.5% from $245.1 million in the prior-year period.

The normalized profit margin fell to 2.6% from 2.8% in the year-earlier period.

Total revenue climbed 23.5% on an annual basis to $10.82 billion from $8.76 billion, and total operating expenses rose 23.5% year over year to $10.31 billion from $8.35 billion.

Reported net income increased 20.8% year over year to $307.8 million, or 74 cents per share, from $254.9 million, or 72 cents per share.