(Reuters) — Tyson Foods Inc.’s, the largest U.S. meat processor, reported a better-than-expected quarterly profit.
Tyson Foods shares were up five percent in premarket trading.
Sales increased 13.6 percent to US$10.10 billion in the fourth quarter ended Sept. 27, Tyson said.
Net income attributable to Tyson nearly halved to $137 million, or 35 cents per share.
Excluding items, the company earned 87 cents per share.
Analysts on average had expected a profit of 76 cents per share on sales of $10.16 billion, according to Thomson Reuters.
The company said it expects an adjusted profit of $3.30 to 3.40 per share and sales of $42 billion for the year ending September 2015. Analysts were expecting a profit of $3.33 per share and sales of $42.50 billion.
