reported a drop in third-quarter earnings even though revenue rose 7%, partially on the strength in the company's beef unit.
The company earned $79 million, or 23 cents a share, including certain items, down from $107 million, or 30 cents a share, in the prior-year period.
Analysts polled by Thomson First Call were expecting a profit of 21 cents a share.
Operating income was $201 million, below last year's $247 million, the Springdale, Ark., company said.
Third-quarter sales totaled $6.3 billion, up from $5.9 billion last year. Sales at the company's beef segment increased to $3.2 billion, up 16.4% from last year's $2.7 billion. Average selling prices jumped 17.8%. Pork segment sales climbed 14.4% to $631 million.
Shares of Tyson were recently down 9 cents at $11.46 on the
New York Stock Exchange