Tyson Foods warns full-year profit may fall short of forecast

[August 03, 2015]  (Reuters) - Tyson Foods Inc, the biggest U.S. meat processor, warned it may not be able to achieve its profit forecast for the year ending September due to export disruptions in its beef business and high cattle costs.

Tyson's shares were down 7.6 percent premarket on Monday. The company had previously forecast full-year profit of $3.30-$3.40 per share. For the third quarter, Tyson reported a 4 percent rise in sales to $10.07 billion, helped by higher sales of chicken and prepared foods. Net income attributable to the company rose to $343 million, or 83 cents per share in the quarter ended June 27, from $260 million, or 73 cents per share, a year earlier. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty) [© 2015 Thomson Reuters. All rights reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.