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Tyson Foods profit holds steady YOY in fiscal Q3

Tyson Foods Inc. said its normalized net income for the fiscal third quarter ended July 1 came to $1.20 per share, compared with the S&P Capital IQ consensus estimate of $1.20 per share.

EPS climbed year over year from $1.14.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $443.4 million, compared with $443.4 million in the year-earlier period.

The normalized profit margin declined to 4.5% from 4.7% in the year-earlier period.

Total revenue climbed year over year to $9.85 billion from $9.40 billion, and total operating expenses grew 5.1% on an annual basis to $9.08 billion from $8.64 billion.

Reported net income decreased 7.7% from the prior-year period to $447.7 million, or $1.21 per share, from $485.0 million, or $1.25 per share.