Tyson beats 1Q profit forecasts

Tyson Foods Inc.
Andrew Harrer | Bloomberg | Getty Images

Tyson Foods on Friday reported fiscal first-quarter net income of $309 million.

The Springdale, Arkansas-based company said it had profit of 74 cents per share. Earnings, adjusted for one-time gains and costs, came to 77 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The meat producer posted revenue of $10.82 billion in the period.

Tyson expects full-year earnings in the range of $3.30 to $3.40 per share.

Tyson shares have increased slightly since the beginning of the year, while the Standard & Poor's 500 index has declined nearly 2 percent. The stock has risen 17 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSN at http://www.zacks.com/ap/TSN.