May 7, 2018 / 11:42 AM / 17 days ago

Tyson Foods reports 7.4 pct fall in quarterly profit

May 7 (Reuters) - Tyson Foods Inc reported an 7.4 percent fall in quarterly profit on Monday, as the No. 1 U.S. meat processor felt the brunt of higher freight costs and gave one time cash bonuses to employees as a result of benefits from changes in the U.S. tax law.

Net income attributable to the company fell to $315 million, or 85 cents per share, in quarter ended March 31, from $340 million, or 92 cents per share, a year earlier.

The Springdale, Arkansas-based company said its sales rose to $9.77 billion from $9.08 billion last year. (Reporting by Uday Sampath in Bengaluru; Editing by Shailesh Kuber)

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