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Net
income attributable to Tyson declined to $340 million, or 92
cents per share, in the second quarter ended April 1, from $432
million, or $1.10 per share, a year earlier.
Tyson Foods' sales fell about 1 percent to $9.08 billion,
declining for the fifth time in six quarters but edged past
analysts' average estimate of $9.05 billion, according to
Thomson Reuters I/B/E/S.
Excluding items, the company earned $1.01 per share, missing
analyst estimates by one cent.
Operating income at Tyson's chicken unit declined by nearly a
third in the quarter, dragging total operating income down by
about 19 percent.
"Had it not been for the fires, our Chicken segment return on
sales would have been within its normalized range," Chief
Executive Tom Hayes said in a statement.
However, the company raised the average selling prices of its
chicken by 4.3 percent, which helped curb the impact of the
lower production on the dollar-value of sales.
The Springdale, Arkansas-based company's shares were down 2.1
percent at $62 in premarket trading. Up to Friday's close, they
had fallen almost 6 percent in the last 12 months.
(Reporting by Sruthi Ramakrishnan and Richa Naidu in Bengaluru;
Editing by Savio D'Souza)
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