Tyson Foods, Inc. (NYSE: TSN) reported better-than-expected earnings for the third quarter. Meanwhile, revenues missed the Street view.
The packaged food company posted adjusted earnings of $1.40 per share for the third quarter, down from $1.47 per share reported a year earlier. Unadjusted profit declined to $527 million or $1.44 per share from $676 million or $1.84 per share in the third quarter of 2019. Analysts had forecast a lower number for the most recent quarter.
Revenues dropped to $10.02 billion from $10.89 billion in the year-ago period and missed Wall Street’s forecast.
Tyson Foods’ shares closed the last trading session lower but gained early Monday soon after the earnings announcement.
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