Tyson Foods Posts Second Quarter 2024 Results
Year-Over-Year Growth in Operating Income Highlights Progress on Strategic Initiatives
Springdale, Arkansas – May 6, 2024 – 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, reported the following results:
Earnings Q2
First Six Months Highlights
Sales of $26,391 million, flat from prior year
GAAP operating income of $543 million, up 30% from prior year
Adjusted operating income of $817 million, up 58% from prior year
GAAP EPS of $0.71, up 16% from prior year
Adjusted EPS of $1.31, up 60% from prior year
Total Company GAAP operating margin of 2.1%
Total Company adjusted operating margin (non-GAAP) of 3.1%
Cash provided by operating activities of $1,177 million, up 53% from prior year
Free cash flow (non-GAAP) of $556 million, up $884 million from prior year
Second Quarter Highlights
Sales of $13,072 million, down 0.5% from prior year
GAAP operating income of $312 million, up 737% from prior year
Adjusted operating income of $406 million, up 525% from prior year
GAAP EPS of $0.41, up $0.69 from prior year
Adjusted EPS of $0.62, up $0.66 from prior year
Total Company GAAP operating margin of 2.4%
Total Company adjusted operating margin (non-GAAP) of 3.1%
Liquidity of approximately $4.4 billion as of March 30, 2024; issued $1.5 billion senior notes
"During the second quarter, we continued our positive momentum and made progress on our key initiatives. The strategies we have implemented are delivering tangible results, as evidenced by our return to year-over-year bottom line growth," said Donnie King, President & CEO of Tyson Foods. "Looking to the back half of the year, we will continue to focus on executing the fundamentals and leveraging our multi-protein portfolio. We are energized by our progress to-date and laser-focused on driving long-term value." see & read more on
https://www.tysonfoods.com/news/news-releases/2024/5/tyson-foods-reports-second-quarter-2024-results |
