Tyson Foods Posted Sharply Lower Quarterly Results, Shares Dropping Fast

Shares of Tyson Foods (TSN), one of the world’s largest food companies and a leader in protein supplements with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair, are shedding almost 3% on premarket after having reported the following results:

Q4 2023 Highlights:

Sales of $13,348 million were down 2.8% from prior year. GAAP operating loss of ($463) million, down 160% from prior year. Adjusted operating income of $236 million, down 71% from prior year.

On a per-share basis, GAAP EPS of (negative) ($1.31), down 187% from the same period of 2022. Adjusted EPS of $0.37, also down 77% from prior year. Total Company’s GAAP operating margin remained negative at (3.5%). Total Company adjusted operating margin (non-GAAP) was positive at 1.8%.