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Tyson reports first quarter earnings

by The Associated Press | February 11, 2021 at 7:57 a.m.
FILE - In this Jan. 29, 2006, file photo, a car passes in front of a Tyson Foods Inc., sign at Tyson headquarters in Springdale.

SPRINGDALE, Ark. -- Tyson Foods Inc. on Thursday reported fiscal first-quarter net income of $467 million.

On a per-share basis, the Springdale, Arkansas-based company said it had net income of $1.28. Earnings, adjusted for non-recurring costs, were $1.94 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.

The meat producer posted revenue of $10.46 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $11.08 billion.

Tyson shares have risen 7.5% since the beginning of the year, while the Standard & Poor's 500 index has increased 4%. The stock has dropped 15% in the last 12 months.


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