Tyson Foods, Inc. (NYSE: TSN), one of the world’s largest food companies and a recognized leader in protein with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair
First Quarter Highlights
Sales of $13,260 million up 2.5% from prior year
GAAP operating income of $467 million, down 68% from prior year; Adjusted operating income of $453 million, down 68% from prior year
GAAP EPS of $0.88, down 71% from prior year; Adjusted EPS of $0.85, down 70% from prior year
Total Company GAAP operating margin of 3.5%; Adjusted operating margin (non-GAAP) of 3.4%
Repurchased 4.9 million shares for $313 million
Liquidity of $2.9 billion at December 31, 2022
“We executed our strategy in Q1, growing volume, improving staffing levels, investing in automation and building inventory to meet customer demand, all while maintaining a focus on liquidity and financial health,” said Tyson Foods President and CEO Donnie King. “The strength of our retail brands, including Tyson®, Jimmy Dean®, Hillshire Farm®, and Ball Park, was demonstrated by the growth in Prepared Foods, most notably with Jimmy Dean ending the quarter at its all-time highest volume share. Our advantaged brands in advantaged categories uniquely position us to win in the marketplace.”
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