Tyson Foods Q3 Profit Rises - Quick Facts

(RTTNews) - Tyson Foods (TSN) Monday said third-quarter attributable net income increased to $343 million or $0.83 per share from $260 million or $0.73 per share in the previous year.

Operating income was $563 million, compared to $351 million in the prior year.

Adjusted operating income for the latest third quarter rose to $568 million or $0.80 per share from $407 million or $0.75 per share in the comparable quarter last year. On average, 10 analysts polled by Thomson Reuters expected earnings of $0.92 per share for the quarter. Analysts' estimates typically exclude special items.

Sales grew to $10.07 billion from $9.68 billion in the previous year, while nine analysts expected revenues of $10.30 billion.

In fiscal 2016, the company said it expects to increase share repurchases under its share repurchase program. As of June 27, 2015, 27.9 million shares remain authorized for repurchases.

In fiscal 2016, Tyson Foods expects domestic protein production to increase approximately 3% from fiscal 2015 levels. Grain supplies are expected to decrease in fiscal 2016, which should result in higher input costs as well as increased costs for cattle and hog producers.