Tyson Foods Q1 2023 Financial Results
Pork remains challenged by industry headwinds
First Quarter 2023 vs First Quarter 2022
SALES
(in millions of dollars)
$1,626
-6%
ADJUSTED OPERATING INCOME 1
(in millions of dollars)
$1,529
$164
HIGHLIGHTS
。 Sales volume decreased due to balancing supply
with customer demand
o Average sales price increased driven by higher
prices in specialty products
Operating income decreased due to lower
revenue, higher incurred hog costs, and an
unfavorable derivative impact of approximately
$35M
o Increase in live hog costs of approximately $55
million
-112%
1Q22
1Q23
1Q22
-$19
1Q23
Adj Operating Margin¹
Sales Development
Volume
Price
1Q23 vs 1Q22
↓
(7.4)%
1Q22
1Q23
↑
1.4%
10.1%
(1.2)%
Represents a non-GAAP financial measure. Adjusted EPS, adjusted operating income and adjusted operating margin are explained and reconciled to comparable GAAP measures in the Appendix.
CR
CHAIRMAN'S
RESERVE
TYSON FOODS, INC. FEBRUARY 6, 2023
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