SPRINGDALE, Ark. (AP) Tyson Foods Inc. (TSN) on Monday reported fiscal third-quarter profit of $541 million.
The Springdale, Arkansas-based company said it had net income of $1.47 per share. Earnings, adjusted for restructuring costs, were $1.50 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The meat producer posted revenue of $10.05 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $10.24 billion.
Tyson expects full-year earnings in the range of $5.70 to $6 per share, with revenue in the range of $40 billion to $41 billion.
Tyson shares have declined 29 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 6 percent. The stock has fallen roughly 9 percent in the last 12 months.