Tyson Foods Q1 2023 Financial Results
Softer domestic demand and higher live cattle costs in Beef
First Quarter 2023 vs First Quarter 2022
$5,002
SALES
(in millions of dollars)
-6%
ADJUSTED OPERATING INCOME1
(in millions of dollars)
$4,723
$956
HIGHLIGHTS
。 Sales volume increased driven by improved
staffing supporting higher head throughput
o Average sales price decreased due to softer
domestic demand for beef products
o As expected, operating income decreased from a
record high in the prior year quarter due to lower
sales revenue and higher live cattle costs
o Increase in live cattle costs of approximately $530
million
-87%
$129
1Q22
1Q23
1Q22
1Q23
Sales Development
Volume
Price
1Q23 vs 1Q22
↑
2.9%
↓
(8.5)%
Adj Operating Margin¹
1Q22
19.1%
1Q23
2.7%
1 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.
TYSON FOODS, INC. FEBRUARY 6, 2023
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