Go to the Globe and Mail homepage

Jump to main navigationJump to main content

In this May 3, 2009 file photo, Tyson Foods chicken products are displayed on the shelves of a Little Rock, Ark. grocery store. (Danny Johnston/Danny Johnston/AP)
In this May 3, 2009 file photo, Tyson Foods chicken products are displayed on the shelves of a Little Rock, Ark. grocery store. (Danny Johnston/Danny Johnston/AP)

Tyson Foods profit hit by higher grain, feed costs Add to ...

Tyson Foods Inc. , the largest U.S. meat processor, reported a lower-than-expected quarterly profit on higher grain and feed costs and said it expected them to keep rising this fiscal year.

However, sales came in stronger than Wall Street had expected because of higher prices, and Tyson gave a fiscal-year revenue forecast mostly in line with analysts’ estimates.

More related to this story

For the fourth quarter ended Oct. 1, net income attributable to Tyson fell to $97-million, or 26 cents a share, from $213-million, or 57 cents a share, a year earlier.

Analysts on average were expecting a profit of 32 cents a share, according to Thomson Reuters I/B/E/S.

Sales rose 13 per cent to $8.40-billion, beating analysts’ expectations of $8.20-billion.

The company’s operating margin fell to 2 per cent from 5.3 per cent.

Tyson expects fiscal 2012 sales of more than $34-billion, compared with analysts’ estimates of $34.01-billion.

Follow us on Twitter: @GlobeInvestor

 
Security Price Change
TSN-N Tyson Foods 39.68 0.55
1.406 %
Add to watchlist
Live Discussion of TSN on StockTwits
More Discussion on TSN-N

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories