Tyson Foods earnings exceeded Wall Street expectations

Business News

In this April 22, 2020, file photo, a sign sits in front of the Tyson Foods pork plant in Perry, Iowa. A group of worker advocacy organizations has filed a civil rights complaint with the U.S. Department of Agriculture alleging that meat processing companies Tyson and JBS have engaged in workplace racial discrimination during the coronavirus pandemic. The complaint alleges the companies adopted polices that reject U.S. Centers for Disease Control and Prevention guidance on distancing and protective gear on meat processing lines. The complaint says the operating procedures have a discriminatory impact on mostly Black, Latino, and Asian workers. (AP Photo/Charlie Neibergall, file)

SPRINGDALE, Ark. (AP) — Tyson Foods Inc. (TSN) on Monday reported fiscal fourth-quarter earnings of $1.36 billion.

On a per-share basis, the Springdale, Arkansas-based company said it had net income of $3.71. Earnings, adjusted for non-recurring gains, were $2.30 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.

The meat producer posted revenue of $12.81 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $12.56 billion.

For the year, the company reported profit of $3.05 billion, or $8.34 per share. Revenue was reported as $47.05 billion.

Tyson expects full-year revenue in the range of $49 billion to $51 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSN at https://www.zacks.com/ap/TSN

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