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Tyson Foods profit misses consensus by 15.4% in fiscal Q3


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Tyson Foods profit misses consensus by 15.4% in fiscal Q3

Tyson Foods Inc. said its normalized net income for the fiscal third quarter ended June 27 came to 77 cents per share, compared with the S&P Capital IQ consensus estimate of 91 cents per share.

EPS increased 28.5% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $319.6 million, a gain of 49.4% from $213.9 million in the prior-year period.

The normalized profit margin rose to 3.2% from 2.2% in the year-earlier period.

Total revenue climbed year over year to $10.07 billion from $9.68 billion, and total operating expenses climbed from the prior-year period to $9.49 billion from $9.32 billion.

Reported net income increased 32.2% year over year to $343.6 million, or 83 cents per share, from $259.9 million, or 73 cents per share.