RTTNews | Feb 11, 2021 06:55AM EST

06:55 Thursday, February 11, 2021 (RTTNews.com) - Tyson Foods, Inc. (TSN) reported Thursday that its fourth-quarter net Income attributable to the company declined to $467 million or $1.28 per share from $505 million or $1.38 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.94 per share, compared to $1.52 per share in the year-ago quarter. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.49 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter declined 3.3 percent to $10.46 billion from $10.82 billion in the same quarter last year. Analysts expected revenue of $10.84 billion for the quarter.

Looking ahead to fiscal 2021, the company maintains its sales outlook in the range of $42 billion to $44 billion, but now expects sales to be near the upper end of the range. The Street is looking for revenues of $43.81 billion for the year.

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