SPRINGDALE - Tyson Foods Inc. (TSN) on Monday reported fiscal second-quarter profit of $476 million.
On a per-share basis, the Springdale, Arkansas-based company said it had net income of $1.30. Earnings, adjusted for non-recurring costs, were $1.34 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The meat producer posted revenue of $11.3 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $11.2 billion.
Tyson expects full-year revenue in the range of $44 billion to $46 billion.
Tyson shares have climbed 22% since the beginning of the year, while the S&P's 500 index has climbed 13%. The stock has climbed 31% in the last 12 months.