Vending

Tyson Foods delivers stellar Q1 2022 sales, earnings

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February 7, 2022

Tyson Foods Inc. surpassed analyst estimates for Q1 2022 revenue and earnings, according to an earnings report.

• Sales rose from $10.46 billion in Q1 2021 to $12.93 billion in Q1 2022, ending Jan. 1, 2022.
• Income rose from $472 million to $1.126 billion in the comparative quarters.
• Class A basic income per share rose from $1.31 to $3.16 while Class B basic income rose from $1.18 to $2.84.
• Class A diluted EPS rose from 47 cents to 47.5 cents while Class B diluted EPS rose from 42.3 cents to 42.8 cents.
• Adjusted EPS rose from $1.94 to $2.87.
• Beef sales decreased due to the impacts associated with a challenging labor environment and increased supply chain constraints, partially offset by strong global demand.
• Pork sales were up slightly as strong global demand was offset by the impacts associated with a challenging labor environment.
• Chicken sales increased primarily due to increased live production and a strong demand environment.
• Prepared food sales decreased due to the divestiture of the pet treats business in the fourth quarter of fiscal 2021 as well as lower production throughput primarily associated with a challenging labor and supply environment.

Shares traded at $98.74 today against a 52-week range of $63.22-$99.21.

The $12.93 billion in quarterly revenue beat analyst expectations by $760 million while the non-GAAP EPS of $2.87 beat expectations by 94 cents, according to Seeking Alpha.

"We're pleased with the results of the first quarter and of the steps that we are taking to improve productivity," Donnie King, president and CEO, said in a press release. "Our performance reflects the resilience of our multi-protein portfolio even with continued volatility in the marketplace."

The company expects sales to be at the upper end of $49 billion to $51 billion in fiscal 2022.