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Tyson Foods Announces Record Quarter Assisted by Record Prepared Foods Results

Tyson Foods Announces Record Quarter Assisted by Record Prepared Foods Results

Friday, February 9th, 2018

Tyson Foods, Inc. has announced the financial results for its first quarter of 2018, which report an 11% growth of total company sales.

Tom Hayes, President and CEO, Tyson Foods

“At Tyson Foods, we’re creating a modern food company focused on protein,” said Tom Hayes, Tyson Foods President and Chief Executive Officer in a company announcement. “Building on our momentum from a record year in fiscal ’17, we’re off to a strong start in fiscal ’18. We delivered record adjusted EPS and our second-strongest quarter of operating income in Q1, with operating cash flows of more than $1.1 billion.”

Tyson Foods products

Tom Hayes continued, “The strength and diversity of our portfolio are evident. We drove solid results in each of our segmentsbeef, pork, chicken and prepared foods. We grew topline sales, with our retail and food service sales both outpacing the industry. We’re encouraged by the position we’re in today. As we look to the long-term, we’re confident in our ability to continue growing the business. Demand for protein continues to rise, and we’re well-positioned to take advantage of that opportunity—and to fulfill our aspiration of sustainably feeding the world.”

Tyson Foods world headquarters

Highlights from the quarter as expressed by Tyson are as follows:

  • Record GAAP EPS of $4.40, up 177% from last year; Record Adjusted EPS of $1.81, up 14% from last year
  • GAAP operating income of $927 million; Adjusted operating income of $950 million
  • Total Company GAAP operating margin at 9.1%; Adjusted operating margin at 9.3%
  • Record Prepared Foods GAAP operating margin of 11.4%; Record Adjusted operating margin at 11.9%
  • Reduced debt over $500 million
  • Realized $37 million of Financial Fitness Program cost savings

Tyson believes that these figures are the results of lower enacted tax rates and incremental tax reform cash flow, which has allowed the company to invest in its team members with bonuses for the next quarter. For more segmented results and an outlook on how Tyson expects a 3% increase in domestic protein protection in 2018, visit the full report here. And to stay in the know on financial reports concerning the deli industry, keep reading Deli Market News.

Tyson Foods