Tyson Foods Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Tyson Foods Inc. (TSN) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $1.12 billion, or $3.07 per share. This compares with $0.47 billion, or $1.28 per share, in last year's first quarter.

Excluding items, Tyson Foods Inc. reported adjusted earnings of $2.87 per share for the period.

Analysts on average had expected the company to earn $1.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.6% to $12.93 billion from $10.46 billion last year.

Tyson Foods Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.12 Bln. vs. $0.47 Bln. last year. -EPS (Q1): $3.07 vs. $1.28 last year. -Analyst Estimate: $1.90 -Revenue (Q1): $12.93 Bln vs. $10.46 Bln last year.