Tyson Foods profit slides 40 percent
Tyson Foods Inc., the world's largest meat producer, reported Monday its first-quarter profit slid 40 percent and temporarily withdrew its earnings guidance because of volatility in the commodity markets.The Springdale-based company said it earned $$34 million, or 10 cents a share, in the period ending Dec. 29, down from $$57 million, or 16 cents a share, in the year-ago quarter.The quarter included an $$18 million one-time gain and a $$6 million charge.
Tyson Foods Inc. reported a smaller quarterly profit due to higher feed costs for its chickens and the company expects that business to post a loss in the current quarter.