In this file:

 

·         Tyson Foods (TSN) Tops Q1 EPS by 1c, Revenues Miss

·         Tyson Reports Decreased Sales Volume Due to Reduced Live Cattle Harvest Capacity

·         Tyson Stumbles on Chicken But Stays Upbeat on Meat Prospects

·         Media Release: Tyson Foods Reports First Quarter 2020 Results

 

 

Tyson Foods (TSN) Tops Q1 EPS by 1c, Revenues Miss

 

StreetInsider.com 

February 6, 2020

 

Tyson Foods (NYSE: TSN) reported Q1 EPS of $1.66, $0.01 better than the analyst estimate of $1.65. Revenue for the quarter came in at $10.82 billion versus the consensus estimate of $11.04 billion.

 

First Quarter Highlights

 

    GAAP EPS of $1.52, up 1% from prior year; Adjusted EPS of $1.66, up 5% from prior year

    GAAP operating income of $826 million, up 2% from prior year

    Adjusted operating income of $894 million, up 6% from prior year

    Total Company GAAP operating margin of 7.6%; Adjusted operating margin of 8.3%

    Record Beef GAAP operating margin of 10.7% and record Adjusted operating margin of 11.2%

    Sales growth of 6%

 

“Our overall results in the first quarter of fiscal 2020 were in line with expectations,” said Noel White, Tyson Foods’ CEO. “Our Beef and Pork segments performed well as the effects of African swine fever are beginning to materialize. Our Chicken segment performed better operationally, although in a soft pricing environment. Our Prepared Foods segment produced its sixth consecutive quarter of retail consumption growth, demonstrating the strength of our brands and innovation as we grew or held market share in all core categories.

 

“With improved access to global markets resulting from recent trade developments, there are reasons to be optimistic about fiscal 2020 and beyond and we are well-positioned to capitalize on opportunities in the global marketplace. Although we anticipate the challenges and volatility typical in our second fiscal quarter, our long-term outlook remains positive.”

 

Outlook

 

For fiscal 2020, USDA indicates domestic protein production (beef, pork, chicken and turkey) should increase approximately 3-4% from fiscal 2019 levels, but we expect export markets to absorb the increased production. The following is a summary of the outlook for each of our segments, as well as an outlook for capital expenditures, net interest expense, liquidity and tax rate for fiscal 2020. While our accounting cycle results in a 53-week year in fiscal 2020 as compared to a 52-week year in fiscal 2019, the fiscal 2020 outlook is based on a comparable 52-week year.

 

Adjusted operating margin guidance is provided below on a non-GAAP basis2.

 

    Beef – We expect industry fed cattle supplies to increase approximately 1% in fiscal 2020 as compared to fiscal 2019. We expect ample supplies in regions where we operate our plants. For fiscal 2020, we believe our Beef segment's adjusted operating margin will be toward the upper end of 6.5% to 7.5%, absent additional impacts from ASF.

    Pork – We expect industry hog supplies to increase approximately 4% in fiscal 2020 as compared to fiscal 2019. We expect increased livestock costs in fiscal 2020 as compared to fiscal 2019. For fiscal 2020, we believe our Pork segment's adjusted operating margin will be 6% to 8%, absent additional impacts from ASF.

    Chicken – USDA projects a 4% increase in chicken production in fiscal 2020 as compared to fiscal 2019. For fiscal 2020, we believe our Chicken segment's adjusted operating margin will be 4% to 6%, absent additional impacts from ASF.

    Prepared Foods...

 

more

https://www.streetinsider.com/Corporate+News/Tyson+Foods+%28TSN%29+Tops+Q1+EPS+by+1c%2C+Revenues+Miss/16425714.html

 

 

Tyson Reports Decreased Sales Volume Due to Reduced Live Cattle Harvest Capacity

 

The Cattle Site

06 February 2020

 

US - Tyson Foods today reported that beef sales volume decreased due to a reduction in live cattle harvest capacity as a result of a fire that caused the temporary closure of a production facility for the majority of the first quarter of fiscal 2020.

 

Average sales price increased as beef demand remained strong. Operating income increased as we continued to maximize our revenues relative to live fed cattle costs, partially offset by increased operating costs and $16 million of net incremental costs from a production facility fire.

 

According to Tyson, for fiscal 2020, USDA indicates domestic protein production (beef, pork, chicken and turkey) should increase approximately 3-4 percent from fiscal 2019 levels, but the company expects export markets to absorb the increased production.

 

Tyson expects industry fed cattle supplies to increase approximately 1 percent in fiscal 2020 as compared to fiscal 2019. It expects ample supplies in regions where it operates its plants.

 

For fiscal 2020, Tyson Foods believes that its Beef segment's adjusted operating margin will be toward the upper end of 6.5 percent to 7.5 percent, absent additional impacts from ASF.

 

"Our overall results in the first quarter of fiscal 2020 were in line with expectations," said Noel White, Tyson Foods’ CEO...

 

more

http://www.thecattlesite.com/news/54846/tyson-reports-decreased-sales-volume-due-to-reduced-live-cattle-harvest-capacity/

 

 

Tyson Stumbles on Chicken But Stays Upbeat on Meat Prospects

 

    Quarterly sales missed as soft pricing held back poultry unit

    Statement made no reference to impact of coronavirus in China

 

By Laura Yin and Lydia Mulvany, Bloomberg

February 6, 2020

 

Tyson Foods Inc. shares fell after the top U.S. meat processor delivered quarterly sales that missed estimates as soft pricing held back the chicken unit and the company cut its forecast for poultry margins.

 

Still, earnings matched expectations on strong beef and pork margins and the company retained a positive global meat outlook based on China’s efforts to fill a protein gap because of African swine fever and easing trade tensions.

 

Chief Executive Officer Noel White forecast “typical” fiscal second-quarter challenges and volatility but retained a positive long-term outlook as export markets absorb higher supplies. He made no reference to the spread of coronavirus in China.

 

“With improved access to global markets resulting from recent trade developments, there are reasons to be optimistic about fiscal 2020 and beyond and we are well-positioned to capitalize on opportunities in the global marketplace,” White said.

 

On a call that starts at 9 a.m. in New York, investors will be looking for Tyson’s guidance on how much coronavirus will disrupt trade and demand in the world’s top food buyer. Before the outbreak, meat producers were surging on the additional demand from swine fever.

 

Beijing’s efforts to minimize the impact of coronavirus have helped fuel a recovery this week after markets tumbled in previous weeks. Still global meat prices fell the most since 2015 in January after Asia’s rapid pork imports started to slow.

 

“As the fallout from ASF continues to unravel itself, we expect China to continue to ramp its imports of protein,” Stephens analyst Ben Bienvenu said in report. Tyson is expected...

 

more, including chart

https://www.bloomberg.com/news/articles/2020-02-06/tyson-delivers-upbeat-outlook-as-swine-fever-spurs-meat-demand

 

 

Tyson Foods Reports First Quarter 2020 Results

Delivers Top and Bottom Line Growth, Record Beef Results

 

Source: Tyson Foods, Inc.

via Globe Newswire - February 06, 2020

 

SPRINGDALE, Ark., Feb. 06, 2020 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE: TSN), one of the world’s largest food companies and a recognized leader in protein with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair, today reported the following results:

 

much more, including numerous financial tables

https://www.globenewswire.com/news-release/2020/02/06/1980980/0/en/Tyson-Foods-Reports-First-Quarter-2020-Results.html