SPRINGDALE, Ark. (AP) Tyson Foods Inc. (TSN) on Tuesday reported fiscal fourth-quarter profit of $537 million.
The Springdale, Arkansas-based company said it had profit of $1.47 per share. Earnings, adjusted for asset impairment costs and restructuring costs, came to $1.58 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 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $10.15 billion.
For the year, the company reported profit of $3.02 billion, or $8.19 per share. Revenue was reported as $40.05 billion.
Tyson expects full-year earnings in the range of $5.75 to $6.10 per share.
Tyson shares have fallen 24 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 2 percent. The stock has decreased 17 percent in the last 12 months.