Tyson Foods, Inc. Files 10-Q for Period Ending December 30, 2023

TL;DR

<b>Tyson Foods, Inc. has filed its Q1 2024 10-Q report, detailing financial performance for the quarter ending December 30, 2023.</b>

AI Summary

TYSON FOODS, INC. (TSN) filed a Quarterly Report (10-Q) with the SEC on February 5, 2024. Tyson Foods, Inc. filed a 10-Q report for the period ending December 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on September 30th. Tyson Foods, Inc. is in the Poultry Slaughtering and Processing industry. The filing was made on February 5, 2024.

Why It Matters

For investors and stakeholders tracking TYSON FOODS, INC., this filing contains several important signals. This filing provides investors with the latest financial data for Tyson Foods, Inc., crucial for assessing its performance and making investment decisions. Understanding the company's financial health and operational status is key for stakeholders in the poultry and processed foods sector.

Risk Assessment

Risk Level: low — TYSON FOODS, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or events beyond routine disclosures.

Analyst Insight

Monitor future filings for detailed financial results and management commentary on operational performance and market conditions.

Key Numbers

• 20231230 — Period End Date (Quarterly report period)
• 20240205 — Filing Date (Date the report was filed)
• 0930 — Fiscal Year End (Company's fiscal year end month and day)
• 2023-12-30 — Report Date (Specific date for the report period)

Key Players & Entities

• TYSON FOODS, INC. (company) — Filer name
• TSN (company) — Ticker symbol
• 20231230 (date) — Conformed period of report
• 20240205 (date) — Filed as of date
• Springdale, AR (location) — Business address city and state

Forward-Looking Statements

• Tyson Foods' stock price will see upward pressure due to improved profitability. (TYSON FOODS, INC.) — medium confidence, target: 2024-06-30
• The company will focus on debt reduction strategies in upcoming quarters to mitigate high interest expenses. (TYSON FOODS, INC.) — medium confidence, target: 2024-09-30

FAQ

Industry Context

Tyson Foods operates within the poultry slaughtering and processing sector, a key segment of the broader food manufacturing industry.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting by public companies.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and disclosures.
2. Analyze any segment reporting or management discussion sections for operational insights.
3. Compare the reported period's performance against prior periods and industry benchmarks.

Key Dates

• 2023-12-30: End of Reporting Period — Marks the end of the fiscal quarter for which financial results are reported.
• 2024-02-05: Filing Date — Date Tyson Foods, Inc. submitted its 10-Q filing to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the fiscal year 2023 10-K filing.

Key Financial Figures

• $0.10 — tstanding Shares Class A Common Stock, $0.10 Par Value (Class A stock) 286,339,323

Filing Documents

• tsn-20231230.htm (10-Q) — 1525KB
• tsn2024q1exh-101.htm (EX-10.1) — 65KB
• tsn2024q1exh-102.htm (EX-10.2) — 55KB
• tsn2024q1exh-103.htm (EX-10.3) — 57KB
• tsn2024q1exh-104.htm (EX-10.4) — 65KB
• tsn2024q1exh-105a.htm (EX-10.5A) — 53KB
• tsn2024q1exh-105b.htm (EX-10.5B) — 55KB
• tsn2024q1exh-105c.htm (EX-10.5C) — 56KB
• tsn2024q1exh-106.htm (EX-10.6) — 46KB
• tsn2024q1exh-107.htm (EX-10.7) — 47KB
• tsn2024q1exh-108a.htm (EX-10.8A) — 55KB
• tsn2024q1exh-108b.htm (EX-10.8B) — 55KB
• tsn2024q1exh-109.htm (EX-10.9) — 74KB
• tsn2024q1exh-1010.htm (EX-10.10) — 64KB
• tsn2024q1exh-1011.htm (EX-10.11) — 76KB
• tsn2024q1exh-1012.htm (EX-10.12) — 67KB
• tsn2024q1exh-1013.htm (EX-10.13) — 77KB
• tsn2024q1exh-1014.htm (EX-10.14) — 67KB
• tsn2024q1exh-1015.htm (EX-10.15) — 150KB
• tsn2024q1exh-1016.htm (EX-10.16) — 153KB
• tsn2024q1exh-1017.htm (EX-10.17) — 28KB
• tsn2024q1exh-311.htm (EX-31.1) — 8KB
• tsn2024q1exh-312.htm (EX-31.2) — 8KB
• tsn2024q1exh-321.htm (EX-32.1) — 5KB
• tsn2024q1exh-322.htm (EX-32.2) — 5KB
• tsn-20231230_g1.jpg (GRAPHIC) — 724KB
• 0000100493-24-000014.txt (&nbsp;) — 13233KB
• tsn-20231230.xsd (EX-101.SCH) — 65KB
• tsn-20231230_cal.xml (EX-101.CAL) — 67KB
• tsn-20231230_def.xml (EX-101.DEF) — 566KB
• tsn-20231230_lab.xml (EX-101.LAB) — 799KB
• tsn-20231230_pre.xml (EX-101.PRE) — 656KB
• tsn-20231230_htm.xml (XML) — 1547KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION PAGE

Financial Statements

Item 1. Financial Statements Consolidated Condensed Statements of Income for the Three Months Ended December 30, 2 02 3 , and Dece mber 3 1 , 202 2 1 Consolidated Condensed Statements of Comprehensive Income for the Three Months Ended D ecember 30, 2023 , and D ecember 31, 2022 2 Consolidated Condensed Balance Sheets as of December 30 , 2023 , and Se pte mber 30, 2023 3 Consolidated Condensed Statements of Shareholders' Equity for the Three Months Ended December 30,2023, and December 31, 2022 4 Consolidated Condensed Statements of Cash Flows for the Three Months Ended December 3 0, 2023, and December 31, 2022 5 Notes to Consolidated Condensed Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 38

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 38

Other Information

Item 5. Other Information 38

Exhibits

Item 6. Exhibits 38

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TYSON FOODS, INC. CONSOLIDATED CONDENSED STATEMENTS OF INCOME (In millions, except per share data) (Unaudited) Three Months Ended December 30, 2023 December 31, 2022 Sales $ 13,319 $ 13,260 Cost of Sales 12,496 12,292 Gross Profit 823 968 Selling, General and Administrative 592 501 Operating Income 231 467 Other (Income) Expense: Interest income ( 10 ) ( 9 ) Interest expense 105 84 Other, net ( 25 ) ( 42 ) Total Other (Income) Expense 70 33 Income before Income Taxes 161 434 Income Tax Expense 47 114 Net Income 114 320 Less: Net Income Attributable to Noncontrolling Interests 7 4 Net Income Attributable to Tyson $ 107 $ 316 Net Income Per Share Attributable to Tyson: Class A Basic $ 0.31 $ 0.91 Class B Basic $ 0.28 $ 0.81 Diluted $ 0.30 $ 0.88 See accompanying Notes to Consolidated Condensed Financial Statements. 1 TYSON FOODS, INC. CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (In millions) (Unaudited) Three Months Ended December 30, 2023 December 31, 2022 Net Income $ 114 $ 320 Other Comprehensive Income (Loss), Net of Taxes: Derivatives accounted for as cash flow hedges — 1 Investments 2 — Currency translation 58 81 Postretirement benefits 3 — Total Other Comprehensive Income (Loss), Net of Taxes 63 82 Comprehensive Income 177 402 Less: Comprehensive Income Attributable to Noncontrolling Interests 15 4 Comprehensive Income Attributable to Tyson $ 162 $ 398 See accompanying Notes to Consolidated Condensed Financial Statements. 2 TYSON FOODS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (In millions, except share and per share data) (Unaudited) December 30, 2023 September 30, 2023 Assets Current Assets: Cash and cash equivalents $ 1,484 $ 573 Accounts receivable, net 2,263 2,476 Inventories 5,087 5,328 Other current assets 382 345 Total Current Assets 9,216 8,722 Net Property, Plant and Equipment 9,672 9,634 Goodwill 9,885 9,878 Intangible Assets, net 6,046 6

View Full Filing

View this 10-Q filing on SEC EDGAR