Tyson Foods Q3 Profit Rises - Quick Facts

(RTTNews) - Meat products maker Tyson Foods, Inc. (TSN) reported that its third-quarter net income attributable to the company rose to $260 million from $249 million in the year ago quarter. On a per share basis, net income was $0.73, up from $0.68 in the same quarter last year.

Adjusted net income from continuing operations per share grew to $0.75 from $0.69 in the prior year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.78 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter increased to $9.682 billion from $8.731 billion in the previous year. Wall Street analysts had a consensus revenue estimate of $9.47 billion.

The company expects 2014 sales to approximate $38 billion. Wall Street expects revenues of $36.85 billion for fiscal 2014.

In fiscal 2015, the company expects overall domestic protein production (chicken, beef, pork and turkey) to increase approximately 1% from fiscal 2014 levels. Grain supplies are expected to increase in fiscal 2015, which should result in lower input costs as well as decreased costs for cattle and hog producers.

The company expects fiscal 2015 sales to approximate $42 billion as it integrates Hillshire Brands and continue to execute its strategy of accelerating growth in domestic value-added chicken sales and Prepared Food sales. Wall Street expect revenues of $38.75 billion for fiscal 2015.