Tyson Foods Inc (NYSE:TSN) has reported third-quarter net income of US$447.0mln, down from US$484.0mln in the corresponding period last year but remains confident about its outlook.
The US food producer said in statement on its website that revenue was US$9.85bn, up from US$9.40bn last year, while adjusted earnmings per share was US$1.28, up from US$1.21.
According to Tom Hayes, Tyson's chief executive, the firm's beef and pork segments were strong performers in the third quarter and continued generating cash to fuel investments in the firm's value-added chicken and prepared foods businesses.
He added: “We're nearing the end of a record year of earnings per share and operating income, and we’re looking ahead to fiscal 2018 with great enthusiasm. We anticipate delivering another record year through differentiated capabilities, exceptionally strong brands and disciplined execution."
Tyson shares were up 3.5% to US$65.50 in pre-market trading.