Skip to content
AnalystLens

Tyson Foods 8-K Report, Financial Results (Feb 3, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 3, 2025
Period End
February 3, 2025
Security
TSN
In the record · 2016–202610-K1110-Q338-K142

TSN filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 142 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Nov ’18Nov ’18
  2. Leadership change8-K · Oct ’20Oct ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Material agreement8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed February 3, 2025. Cited figures are marked; the original filing is the authoritative source.

Tyson Foods, Inc. (NYSE: TSN) reported first-quarter results for the period ended December 28, 2024, in a press release furnished as Exhibit 99.1.

Sales were $13.62 billiona, compared with $13.32 billion a year earlier. GAAP operating income was $580 million, versus $231 million, and GAAP diluted EPS was $1.01, versus $0.30. Adjusted operating income, a non-GAAP measure, was $659 million, versus $411 million, and adjusted EPS was $1.14, versus $0.69.

The company said the quarter was its third consecutive quarter of year-over-year growth in sales, operating income and EPS. Chicken was the standout segment, with GAAP operating income of $351 millionb versus $177 million, while Beef still posted a GAAP operating loss of $(64) million, though it improved from $(206) million. Cash provided by operating activities was $1,031 million, down $269 million from the prior year, and free cash flow was $760 million, down $186 million.

Liquidity was $4.5 billionc as of December 28, 2024. The release is headlined as raising fiscal 2025 guidance. The company now expects total adjusted operating income of $1.9 billion to $2.3 billion, sales flat to up 1%, free cash flow of $1.0 billion to $1.6 billion, and capital expenditures of $1.0 billion to $1.2 billion.

Beef is still expected to post an adjusted operating loss of $(0.4) billion to $(0.2) billion for the year. The release also includes a network optimization plan charge of $73 milliond in the quarter.

Management reconciles GAAP to adjusted results in the release and notes that investors should rely primarily on GAAP results. The company also states that it cannot reconcile its forward-looking adjusted figures to GAAP without unreasonable effort.

02—Key points

Key Highlights

  1. Sales of $13.62 billion, versus $13.32 billion in the prior-year quarter; the filing states sales up 2.3%.
  2. GAAP operating income of $580 million versus $231 million, with a GAAP operating margin of 4.3% versus 1.7%.
  3. GAAP diluted EPS of $1.01 versus $0.30; adjusted EPS (non-GAAP) of $1.14 versus $0.69.
  4. Chicken segment GAAP operating income of $351 million versus $177 million, with an operating margin of 8.6%; Beef GAAP operating loss narrowed to $(64) million from $(206) million.
  5. Cash provided by operating activities of $1,031 million, down $269 million; free cash flow (non-GAAP) of $760 million, down $186 million.
  6. Fiscal 2025 outlook updated: total company adjusted operating income of $1.9 billion to $2.3 billion, free cash flow of $1.0 billion to $1.6 billion, and net interest expense of approximately $375 million.
  7. Liquidity of $4.5 billion as of December 28, 2024, which the company expects to remain above its $1.0 billion minimum liquidity target.

03—Questions

Frequently Asked Questions

  1. How did Tyson Foods perform in its first quarter of fiscal 2025?

    Sales rose to $13.62 billion from $13.32 billion, and GAAP operating income more than doubled to $580 million from $231 million. GAAP diluted EPS was $1.01, versus $0.30 a year earlier. The company described the quarter as its third consecutive quarter of year-over-year growth in sales, operating income and EPS.

  2. What changed in Tyson Foods' fiscal 2025 guidance?

    The release is headlined as raising fiscal 2025 guidance. The company now expects total adjusted operating income of $1.9 billion to $2.3 billion, sales flat to up 1%, capital expenditures of $1.0 billion to $1.2 billion, and free cash flow of $1.0 billion to $1.6 billion. It expects an adjusted effective tax rate of approximately 25%.

  3. Which segments drove results, and which remained weak?

    Chicken drove the improvement, with GAAP operating income of $351 million versus $177 million and guidance for adjusted operating income of $1.0 billion to $1.3 billion. Beef remained unprofitable on a GAAP basis at $(64) million, though it improved from $(206) million, and it is expected to post an adjusted operating loss of $(0.4) billion to $(0.2) billion for fiscal 2025.

  4. How did cash generation and liquidity look?

    Cash provided by operating activities was $1,031 million, down $269 million from the prior year, and free cash flow was $760 million, down $186 million. Liquidity was $4.5 billion as of December 28, 2024, and the company expects it to remain above its $1.0 billion minimum liquidity target for fiscal 2025.

  5. Were there any significant one-time items in the quarter?

    Yes. The GAAP to adjusted reconciliation includes network optimization plan charges of $73 million in the quarter, a brand discontinuation charge of $6 million, and a $7 million gain from production facility fire insurance proceeds, net of costs. Investors should rely primarily on GAAP results, as the company notes that non-GAAP measures are supplemental.

04—Continue

← View all 8-K filings