UPDATE: Tyson Foods Reports Decline In FQ3 Earnings

Tyson Foods Inc

reported a decline in its fiscal third-quarter earnings. Tyson Foods reported its quarterly earnings at $188 million, or $0.51 per share, down from $242 million, or $0.65 per share, in the year-earlier period. The latest quarter earnings included a 5-cents-per-share income tax reduction. Its sales surged to $8.25 billion from $7.44 billion. However, analysts were expecting earnings of $0.40 per share on sales of $8.27 billion. Tyson Foods's chicken segment projects a loss in the fourth quarter. Tyson Foods shares gained 0.37% to close at $16.31 on Friday.