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Mar 30, 2024
Tyson Foods Q2 2024 Earnings Report
Tyson Foods experienced year-over-year growth in operating income, demonstrating progress on strategic initiatives.
Key Takeaways
Tyson Foods reported positive momentum in Q2 2024, with sales of $13.072 billion and operating income of $312 million. Adjusted operating income reached $406 million, marking a significant increase from the previous year. The company is focused on executing fundamentals and leveraging its multi-protein portfolio to drive long-term value.
Sales reached $13,072 million, a decrease of 0.5% year-over-year.
GAAP operating income was $312 million, up 737% from the prior year.
Adjusted operating income was $406 million, up 525% from the prior year.
GAAP EPS was $0.41, an increase of $0.69 from the prior year.
Tyson Foods
Tyson Foods
Tyson Foods Revenue by Segment
Revenue by Segment
Beef Revenue
CapyFin.comPork Revenue
CapyFin.comChicken Revenue
CapyFin.comPrepared Foods Revenue
CapyFin.com Forward Guidance
For fiscal year 2024, Tyson Foods anticipates relatively flat sales compared to fiscal 2023. The company expects capital expenditures between $1.2 billion and $1.4 billion and net interest expense to approximate $400 million. The adjusted effective tax rate is expected to be around 24%.
Positive Outlook
- USDA projects domestic protein production will increase slightly in fiscal 2024.
- Anticipate adjusted operating income of $50 million to $150 million in Pork.
- Anticipate adjusted operating income of $700 million to $900 million for Chicken.
- We anticipate adjusted operating income of $850 million to $950 million in Prepared Foods.
- We anticipate improved results from our foreign operations in fiscal 2024 on an adjusted basis.
Challenges Ahead
- USDA projects domestic beef production will decrease approximately 2% in fiscal 2024.
- Anticipate adjusted operating loss between ($400) million and ($100) million in Beef.
- Expect sales to be relatively flat in fiscal 2024 as compared to fiscal 2023.
- We expect net interest expense to approximate $400 million for fiscal 2024.
- We currently expect our adjusted effective tax rate to be around 24% for fiscal 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income