NYSE$TSN
Tyson Foods Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Tyson Foods' Q3 2024 earnings showcased operational improvements, driving profitability year-over-year.
Tyson Foods reported a 1.6% increase in sales to $13.353 billion and an adjusted operating income of $491 million for Q3 2024, marking the highest adjusted operating income in the last seven quarters. The company's disciplined actions and focus on fundamentals drove a positive turnaround, with strong free cash flow generation.
- Sales increased by 1.6% year-over-year, reaching $13.353 billion.
- GAAP operating income improved significantly, reaching $341 million, a $691 million increase from the previous year.
- Adjusted operating income surged by 174% year-over-year, totaling $491 million.
- Adjusted EPS rose to $0.87, a 480% increase compared to the prior year.
Headline financials
Revenue & EPS history
Tyson Foods · Revenue · Quarterly
$13.4B
Revenue by segment
Tyson Foods · $13.8B total across 5 segments · Q4 2023
- Beef$5.03B+3.5%36.4%
- Chicken$4.16B-10.0%30.1%
- Prepared Foods$2.5B-0.6%18.1%
- Pork$1.49B-6.9%10.8%
- International$636M-0.3%4.6%
Forward guidance
Tyson Foods anticipates relatively flat sales for fiscal year 2024 compared to fiscal year 2023. The company expects capital expenditures between $1.2 billion and $1.3 billion and net interest expense to approximate $395 million. The adjusted effective tax rate is projected to be 23-24%.
Tailwinds
- USDA projects domestic protein production (beef, pork, chicken and turkey) should increase slightly compared to fiscal 2023 levels.
- Anticipate adjusted operating income of $100 million to $200 million in fiscal 2024 for Pork.
- Anticipate adjusted operating income of $850 million to $950 million for fiscal 2024 for Chicken.
- We anticipate adjusted operating income of $850 million to $950 million in fiscal 2024 for Prepared Foods.
- We anticipate improved results from our foreign operations in fiscal 2024 on an adjusted basis.
Headwinds
- USDA projects domestic beef production will decrease approximately 2% in fiscal 2024 as compared to fiscal 2023.
- We anticipate adjusted operating loss between ($400) million and ($300) million in fiscal 2024 for Beef.
- USDA projects chicken production will be flat in fiscal 2024 as compared to fiscal 2023.
- Expect sales to be relatively flat in fiscal 2024 as compared to fiscal 2023.
- We anticipate using existing liquidity to retire the $1.25 billion senior notes due August 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.6%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-0.5%
Avg return
30 days after
58%
38 / 65 earnings
Positive
+15.8%
Q1 2016
Best reaction
-19.6%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +0.2% | +7.4% | -11.3% | |
| Q1 2026 | +0.3% | -0.1% | -3.7% | |
| Q4 2025 | +2.3% | +2.5% | +9.5% | |
| Q2 2025 | -7.6% | -9.0% | -8.5% | |
| Q1 2025 | +2.2% | +2.6% | +7.5% | |
| Q4 2024 | +7.6% | +9.4% | +4.1% | |
| Q3 2024 | +0.5% | +0.8% | +7.3% | |
| Q2 2024 | -5.0% | -3.8% | -9.1% | |
| Q1 2024 | -1.7% | -6.7% | -5.3% | |
| Q4 2023 | +1.7% | +3.8% | +11.4% | |
| Q3 2023 | -2.5% | -2.2% | -8.7% | |
| Q2 2023 | -19.6% | -19.5% | -15.4% | |
| Q1 2023 | -4.1% | -5.7% | -8.6% | |
| Q4 2022 | -4.6% | -2.8% | -4.5% | |
| Q3 2022 | -8.6% | -6.5% | -15.5% | |
| Q2 2022 | +1.4% | -0.9% | -3.9% | |
| Q1 2022 | +11.8% | +11.0% | +2.7% | |
| Q4 2021 | +2.9% | +0.3% | +5.8% | |
| Q3 2021 | +11.9% | +15.2% | +7.1% | |
| Q2 2021 | +0.8% | +1.9% | -1.8% | |
| Q1 2021 | -5.4% | -5.2% | +9.0% | |
| Q4 2020 | +2.3% | -2.6% | +4.6% | |
| Q3 2020 | +6.0% | +2.2% | +3.2% | |
| Q2 2020 | -5.0% | +0.6% | +0.1% | |
| Q1 2020 | -4.5% | -3.7% | -23.1% | |
| Q4 2019 | +7.4% | +9.2% | +5.8% | |
| Q3 2019 | +6.6% | +10.8% | +7.9% | |
| Q2 2019 | +2.3% | +6.3% | +7.4% | |
| Q1 2019 | -2.6% | +0.8% | +3.1% | |
| Q4 2018 | -4.6% | -2.3% | -9.0% | |
| Q3 2018 | +3.7% | +4.2% | +8.2% | |
| Q2 2018 | -0.5% | +1.9% | +1.8% | |
| Q1 2018 | +2.0% | +1.8% | +3.1% | |
| Q4 2017 | +2.6% | +5.2% | +11.5% | |
| Q3 2017 | +2.7% | +3.6% | +2.6% | |
| Q2 2017 | -8.6% | -8.0% | -4.5% | |
| Q1 2017 | -1.1% | -0.5% | -5.3% | |
| Q4 2016 | -12.5% | -11.4% | -8.0% | |
| Q3 2016 | +1.1% | +2.3% | +2.2% | |
| Q2 2016 | +3.0% | — | — | |
| Q1 2016 | +15.8% | — | — | |
| Q4 2015 | +12.5% | — | — | |
| Q3 2015 | -6.2% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -1.6% | — | — | |
| Q4 2014 | +4.9% | — | — | |
| Q3 2014 | -0.9% | — | — | |
| Q2 2014 | -10.3% | — | — | |
| Q1 2014 | +4.4% | — | — | |
| Q4 2013 | +7.0% | — | — | |
| Q3 2013 | +7.7% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | +3.2% | — | — | |
| Q4 2012 | +13.0% | — | — | |
| Q3 2012 | -4.1% | — | — | |
| Q2 2012 | +6.7% | — | — | |
| Q1 2012 | +2.8% | — | — | |
| Q4 2011 | -0.5% | — | — | |
| Q3 2011 | +2.5% | — | — | |
| Q2 2011 | -5.0% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q4 2010 | +3.5% | — | — | |
| Q3 2010 | -6.2% | — | — | |
| Q2 2010 | -3.2% | — | — | |
| Q1 2009 | +7.9% | — | — |
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