Tyson Foods Inc. (NYSE: TSN) tumbled after the meat and food processing company reported more-than-feared fall in fiscal second quarter profit on Monday as margins on Chickens contracted further due to soaring feed costs caused by last year’s severe drought. For the recently concluded quarter, Tyson Foods reported net income of $106 million or 26 cents a share compared to a profit of $166 million or 44 cents a share. Stripping out onetime items, the Company reported adjusted earnings of 36 cents a share while analysts’ consensus estimate was for 45 cents a share, according to a data compiled by Thomson Reuters. Revenue during the period came at $8.42 billion compared to $8.3 billion, in the year-earlier quarter but falling short of Street’s consensus forecast of $8.58 billion.
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