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Tyson Foods fiscal Q2 profit falls YOY

Tyson Foods Inc. said its normalized net income for the fiscal second quarter ended April 1 amounted to 99 cents per share, compared with the S&P Capital IQ consensus estimate of $1.02 per share.

EPS declined year over year from $1.02.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $364.6 million, a decrease of 9.0% from $400.5 million in the year-earlier period.

The normalized profit margin fell to 4.0% from 4.4% in the year-earlier period.

Total revenue totaled $9.08 billion, compared with $9.17 billion in the year-earlier period, and total operating expenses came to $8.45 billion, compared with $8.47 billion in the year-earlier period.

Reported net income declined 21.3% on an annual basis to $340.4 million, or 92 cents per share, from $432.3 million, or $1.10 per share.