Tyson Foods Q1 2023 Financial Results
EPS Reconciliations
$ in millions, except per share data (Unaudited)
Pretax Impact
2023
2022
Reported net income per share attributable to Tyson (GAAP EPS)
(Less)/Add: Production facilities fire insurance proceeds, net of costs
Add: Restructuring and related charges
4
(35)
21
Less: Remeasurement of net deferred tax liabilities at lower enacted state tax rates
Adjusted net income per share attributable to Tyson (Adjusted EPS)
SA
First Quarter
$
(45)
EPS Impact
2023
2022
0.88
$
3.07
(0.07)
(0.10)
0.04
(0.10)
0.85
$
2.87
Adjusted net income per share attributable to Tyson (Adjusted EPS) is presented as a supplementary measure of our financial performance that is not required by, or presented in accordance with, GAAP. We use Adjusted
EPS as an internal performance measurement and as one criterion for evaluating our performance relative to that of our peers. We believe Adjusted EPS is meaningful to our investors to enhance their understanding of our
financial performance and is frequently used by securities analysts, investors and other interested parties to compare our performance with the performance of other companies that report Adjusted EPS. Further, we believe
that Adjusted EPS is a useful measure because it improves comparability of results of operations from period to period. Adjusted EPS should not be considered a substitute for net income per share attributable to Tyson or
any other measure of financial performance reported in accordance with GAAP. Investors should rely primarily on our GAAP results and use non-GAAP financial measures only supplementally in making investment
decisions. Our calculation of Adjusted EPS may not be comparable to similarly titled measures reported by other companies.
4 Relates to fires at production facilities in Chicken in the fourth quarter of fiscal 2021 and Beef in the fourth quarter of fiscal 2019. Amount includes insurance proceeds, net of costs incurred, of $35 million recognized in
Cost of Sales in the first quarter of fiscal 2023 and $23 million recognized in Cost of Sales and $22 million net proceeds recognized in Other, net in the first quarter of fiscal 2022.
(T) Tyson
TYSON FOODS, INC. FEBRUARY 6, 2023
24View entire presentation