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Tyson posts fiscal 2Q loss on some charges

Tyson posts fiscal 2Q loss on some charges

Tyson Foods, the world's largest meat producer, says it posted a bigger-than-expected loss in its fiscal second quarter on charges and declining beef sales.
The company also sought to assure customers worried about the recent swine flu outbreak, saying it was too soon to predict the impact.
Tyson Foods Inc. lost $104 million, or 28 cents per share, for the period ended March 28. That compares with a loss of $5 million, or 2 cents per share, in the same period a year ago.
Charges of 19 cents per share were related to a change in the way some taxes are recorded and a plant closing.
Sales dipped 1 percent to $6.31 billion from $6.34 billion.
Analysts expected a loss of 6 cents per share on revenue of $6.64 billion.


Updated : 2021-04-11 20:00 GMT+08:00