Tyson Foods Q1 2023 Financial Results
Adjusted Operating Income Bridge YoY
First Quarter 2023
$ millions
$222
-$1,289
$16
$1,432
Q1 2022 AOI¹
Gross Margin Volume
Sales Price/Mix
$72
$453
2
3
COGS Price/Mix
SG&A
Q1 2023 AO1
Represents a non-GAAP financial measure. Adjusted operating income is explained and reconciled to comparable GAAP measures in the Appendix.
2 Excludes the impacts of production facilities fire insurance proceeds, net of costs incurred of $35 million and restructuring and related charges of $8 million in Q1'23 and $23 million of production facilities fire
insurance proceeds, net of costs incurred recorded in Cost of Sales in Q1'22.
3 Excludes the impact of $13 million of restructuring and related charges in Q1'23.
Highlights
Volumes increased slightly due
to growth across all segments
except Pork
• Sales Price/mix increased due
to recovery actions to address
cost of goods increases
COGS price/mix up due to raw
material, labor, and supply chain
cost pressures
SG&A cost improvement reflects
elimination of non value-added
spend partially offset by
increased investment in
marketing, advertising and
promotions to support our brands
Productivity savings had a
positive impact on margins
TYSON FOODS, INC. FEBRUARY 6, 2023
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