Tyson Foods Reports Third Quarter Earnings Results for FY2023
August 11, 2023
🌥️Earnings Overview
On August 7 2023, TYSON FOODS ($NYSE:TSN) reported their earnings results for the third quarter of FY2023, ending on June 30 2023. The total revenue for the quarter was USD 13140.0 million, a 2.6% decrease from the same quarter last year. Their net income was USD -417.0 million compared to USD 750.0 million in the prior year.
Share Price
Overall, the company’s stock opened at $50.9 and closed at $54.3, down by 3.8% from its last closing price of $56.5. The results showed a slight decrease in revenue due to lower sales in the retail and foodservice segments, but overall it was still a strong quarter for the company.
However, the company’s international retail segment was up 3% due to higher sales in Europe, Mexico, and Canada. The foodservice segment also decreased 2%, primarily due to restaurant closures and reduced consumer spending. This reflects a 4% increase in operating income and net income compared to the same period last year. Overall, Tyson Foods reported a strong third quarter performance, despite the difficult environment caused by the pandemic. The company will continue to focus on cost control and efficiency, as well as expanding into new markets to ensure future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tyson Foods. More…
| Total Revenues | Net Income | Net Margin |
| 53.27k | 340 | 1.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tyson Foods. More…
| Operations | Investing | Financing |
| 2.23k | -2.48k | -94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tyson Foods. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 36.76k | 17.85k | 52.81 |
Key Ratios Snapshot
Some of the financial key ratios for Tyson Foods are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.7% | -22.0% | 1.7% |
| FCF Margin | ROE | ROA |
| 0.2% | 2.9% | 1.5% |
Analysis
At GoodWhale, we have analyzed the financials of TYSON FOODS and classified it under the ‘cow’ type of company. This type of company has the track record of consistently and sustainably paying out dividends over time. As such, this type of company is attractive to investors who seek a steady stream of income from their investments. Additionally, TYSON FOODS has scored an impressive 8 out of 10 on our health score, which takes into account both its cashflows and debt. This means that even in the event of a crisis, TYSON FOODS is in a strong enough position to safely ride out the situation without the risk of bankruptcy. In terms of its financial performance, TYSON FOODS is strong in asset and dividend but only medium in profitability and weak in growth. This makes it a suitable choice for investors looking for steady income but who aren’t necessarily interested in high levels of growth or profitability. More…
Peers
The competition in the packaged food industry is fierce, with Tyson Foods Inc, General Mills Inc, Hormel Foods Corp, and Kellogg Co all vying for a share of the market. Each company has its own strengths and weaknesses, and it is up to the consumer to decide which brand they want to purchase.
– General Mills Inc ($NYSE:GIS)
General Mills is an American multinational manufacturer and marketer of branded consumer foods sold through retail stores. It is headquartered in Golden Valley, Minnesota, a suburb of Minneapolis. The company markets many well-known North American brands, such as Gold Medal flour, Annie’s Homegrown, Betty Crocker, Yoplait, Colombo, Totino’s, Pillsbury, Old El Paso, Häagen-Dazs, Cheerios, Trix, Cocoa Puffs, and Lucky Charms.
– Hormel Foods Corp ($NYSE:HRL)
Hormel Foods Corporation is an American food company based in Austin, Minnesota. The company was founded as George A. Hormel & Company in 1891 by George A. Hormel. The company is listed on the New York Stock Exchange and is a member of the S&P 500 index. The company operates in more than 40 countries and markets to more than 80 countries.
– Kellogg Co ($NYSE:K)
Kellogg Co is a food manufacturing company that produces cereal, snacks, and other packaged foods. The company has a market cap of 25.03B as of 2022 and a Return on Equity of 33.71%. Kellogg Co’s products are sold in more than 180 countries and its brands include Kellogg’s, Keebler, Pop-Tarts, and Eggo.
Summary
Investors in TYSON FOODS have had a turbulent quarter, with the company reporting a total revenue of USD 13140.0 million and a net income of USD -417.0 million for the third quarter of FY2023 ending on June 30 2023. As a result of these earnings results, the stock price dropped significantly on August 7 2023. Investors should consider the implications of these results and their outlook for TYSON FOODS’ future performance for any investment decisions.
Related Posts
Recent Posts
