Home Wealth  Money Tyson Foods Whiffs In Latest Quarter

Tyson Foods Whiffs In Latest Quarter

Posted: Jul. 23rd, 2012  |  By Forbes

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Meat producer Tyson Foods reported a decline in fiscal fourth quarter earnings today.

Profits fell to $97 million, or $0.26 per share, from $213 million, or $0.57 per share, in last year's fourth quarter. Tyson said sales rose 12.9%, to $8.4 billion.

Per-share results fell short of analyst expectations, however revenue was just ahead.

Tyson's chicken unit netted a loss in the quarter, while it beef, pork, and prepared foods segments posted gains.

Tyson said it expects that price increases in all of its categories will help it hit its 2012 sales forecast of $34 billion or more. That forecast meets analyst expectations.

Tyson competes with Smithfield Foods (nyse: SFD - news - people ) , Pilgrim's Pride (nyse: PPC - news - people ) and Sanderson Farms (nasdaq: SAFM - news - people ) , as well as Hormel , which reports earnings tomorrow.

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