SPRINGDALE, Ark. -- Tyson Foods Inc. on Thursday reported fiscal first-quarter net income of $557 million.
The Springdale, Arkansas-based company said it had net income of $1.52 per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to $1.66 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.
The meat producer posted revenue of $10.82 billion in the period.
Tyson shares have fallen roughly 8% since the beginning of the year, while the Standard & Poor's 500 index has risen 3%. The stock has risen 36% in the last 12 months.