Tyson Foods Q1 2023 Financial Results
Forward-Looking
Statements
Non-GAAP Financial
Measures
Certain information in this presentation constitutes forward-looking statements as contemplated by the Private Securities Litigation Reform Act of
1995. Such forward-looking statements include, but are not limited to, current views and estimates of our outlook for fiscal 2023, other future
economic circumstances, industry conditions in domestic and international markets, our performance and financial results (e.g., debt levels, return on
invested capital, value-added product growth, capital expenditures, tax rates, access to foreign markets and dividend policy). These forward-looking
statements are subject to a number of factors and uncertainties that could cause our actual results and experiences to differ materially from
anticipated results and expectations expressed in such forward-looking statements. We wish to caution readers not to place undue reliance on any
forward-looking statements, which are expressly qualified in their entirety by this cautionary statement and speak only as of the date made. We
undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the
factors that may cause actual results and experiences to differ from anticipated results and expectations expressed in such forward-looking
statements are the following: (i) the COVID-19 pandemic and associated responses thereto have had an adverse impact on our business and
operations, and the extent that the COVID-19 pandemic continues to impact us will depend on future developments, which are highly uncertain and
cannot be predicted with confidence, including the COVID-19 related impacts on the market, including production delays, labor shortages and
increases in costs and inflation; (ii) the effectiveness of our financial excellence programs; (iii) access to foreign markets together with foreign
economic conditions, including currency fluctuations, import/export restrictions and foreign politics; (iv) cyber attacks, other cyber incidents, security
breaches or other disruptions of our information technology systems; (v) risks associated with our failure to consummate favorable acquisition
transactions or integrate certain acquisitions' operations; (vi) the Tyson Limited Partnership's ability to exercise significant control over the Company;
(vii) fluctuations in the cost and availability of inputs and raw materials, such as live cattle, live swine, feed grains (including corn and soybean meal)
and energy; (viii) market conditions for finished products, including competition from other global and domestic food processors, supply and pricing of
competing products and alternative proteins and demand for alternative proteins; (ix) outbreak of a livestock disease (such as African swine fever
(ASF), avian influenza (AI) or bovine spongiform encephalopathy (BSE)), which could have an adverse effect on livestock we own, the availability of
livestock we purchase, consumer perception of certain protein products or our ability to conduct our operations; (x) changes in consumer preference
and diets and our ability to identify and react to consumer trends; (xi) effectiveness of advertising and marketing programs; (xii) significant marketing
plan changes by large customers or loss of one or more large customers; (xiii) our ability to leverage brand value propositions; (xiv) changes in
availability and relative costs of labor and contract farmers and our ability to maintain good relationships with team members, labor unions, contract
farmers and independent producers providing us livestock, including as a result of our plan to relocate certain corporate team members to our world
headquarters in Springdale, Arkansas; (xv) issues related to food safety, including costs resulting from product recalls, regulatory compliance and any
related claims or litigation; (xvi) the effect of climate change and any legal or regulatory response thereto; (xvii) compliance with and changes to
regulations and laws (both domestic and foreign), including changes in accounting standards, tax laws, environmental laws, agricultural laws and
occupational, health and safety laws; (xviii) adverse results from litigation; (xix) risks associated with leverage, including cost increases due to rising
interest rates or changes in debt ratings or outlook; (xx) impairment in the carrying value of our goodwill or indefinite life intangible assets; (xxi) our
participation in a multiemployer pension plan; (xxii) volatility in capital markets or interest rates; (xxiii) risks associated with our commodity
purchasing activities; (xxiv) the effect of, or changes in, general economic conditions; (xxv) impacts on our operations caused by factors and forces
beyond our control, such as natural disasters, fire, bioterrorism, pandemics, armed conflicts or extreme weather; (xxvi) failure to maximize or assert
our intellectual property rights; (xxvii) effects related to changes in tax rates, valuation of deferred tax assets and liabilities, or tax laws and their
interpretation; and (xxviii) the other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission,
including those included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of
Operations" in our most recent Annual Report on Form 10-K and Quarterly reports on Form 10-Q.
This presentation contains the financial measures "EBITDA," "Adjusted EBITDA," "Adjusted EPS", "Adjusted Operating Income" and "Adjusted
Operating Margin" which are not calculated in accordance with U.S. GAAP. A reconciliation of non-GAAP financial measures to the most directly
comparable GAAP financial measure has been provided in the Appendix. Non-GAAP financial measures should be considered in addition to, but not as
a substitute for, the Company's reported GAAP results.View entire presentation