SPRINGDALE, Ark. (AP) — Tyson Foods Inc. (TSN) on Monday reported fiscal second-quarter net income of $426 million.
The Springdale, Arkansas-based company said it had net income of $1.17 per share. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $1.20 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The meat producer posted revenue of $10.44 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $10.23 billion.
Tyson expects full-year earnings in the range of $5.75 to $6.10 per share.
Tyson shares have risen 41% since the beginning of the year, while the Standard & Poor's 500 index has risen 18%. The stock has climbed 12% in the last 12 months.