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Tyson Foods (TSN) Tops Q2 EPS by 22c, Revenues Beat

May 10, 2021 7:31 AM EDT

Tyson Foods (NYSE: TSN) reported Q2 EPS of $1.34, $0.22 better than the analyst estimate of $1.12. Revenue for the quarter came in at $11.3 billion versus the consensus estimate of $11.19 billion.

Second Quarter Highlights

  • GAAP EPS of $1.30, up 26% from prior year; Adjusted EPS of $1.34, up 68% from prior year
  • GAAP operating income of $720 million, up 40% from prior year; Adjusted operating income of $739 million, up 43% from prior year
  • Total Company GAAP operating margin of 6.4%; Adjusted operating margin of 6.5%
  • Liquidity of $2.6 billion at April 3, 2021
  • Reduced total debt by approximately $1 billion
  • Worker safety remains top priority; over 42,000 team members vaccinated so far

“We’re grateful for our team members’ continuing efforts and resilience, and for the collaboration and support we’ve received from our customers as we navigate these challenging times,” said Tyson Foods President and CEO Dean Banks. “We delivered a very strong performance in a complex operating environment with continued success in retail and improvements in foodservice as the industry is recovering. We generated adjusted operating income growth of 32 percent for the first half of fiscal 2021, driven by solid results in Beef and Prepared Foods.

“We’re seeing substantial inflation across our supply chain, which will likely create margin pressure during the back half of the year,” he added. “We will remain focused on the factors we can control and will continue to work diligently for a full recovery of our Chicken business, while delivering strong results in other areas of our company. Our long-term outlook is bright as global protein consumption continues to grow, and we expect our investments in capacity expansion, product innovation and technology to create sustainable shareholder value.”

For earnings history and earnings-related data on Tyson Foods (TSN) click here.



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