Tyson Foods misses quarterly sales estimates

[BENGALURU] Tyson Foods Inc fell short of Wall Street estimates for quarterly sales on Tuesday, as the No 1 meat processor in the United States was hit by weakness in its beef business, its biggest segment, due to a drop in cattle processing capacity.

Sales rose nearly 9 per cent to US$10.88 billion, but missed analysts' average estimate of US$11 billion, according to IBES data from Refinitiv.

Net income attributable to Tyson fell to US$369 million, or US$1.01 per share, in the fourth quarter ended Sept 28, from US$537 million, or US$1.47 per share, a year earlier. 

REUTERS