SPRINGDALE, Ark. (AP) — Tyson Foods Inc. (TSN) on Monday reported a loss of $450 million in its fiscal fourth quarter.
On a per-share basis, the Springdale, Arkansas-based company said it had a loss of $1.31. Earnings, adjusted for asset impairment costs and non-recurring costs, came to 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The meat producer posted revenue of $13.35 billion in the period.
For the year, the company reported a loss of $648 million, or $1.87 per share. Revenue was reported as $52.88 billion.