Core Viewpoint - Tyson Foods, Inc. (TSN) has shown strong performance over the past year, with a gain of approximately 15%, primarily driven by improved investor sentiment regarding margins [1] Company Performance - The recent gains in Tyson Foods' stock have largely occurred in the last few months, indicating a shift in investor optimism [1] Investor Sentiment - Investors have become more optimistic about the company's margins, which has contributed to the stock's recent performance [1]

Core Insights - Tyson Foods reported revenue of $14.31 billion for the quarter ended December 2025, marking a year-over-year increase of 5.1% and exceeding the Zacks Consensus Estimate of $14.12 billion by 1.36% [1] - The company's EPS for the same period was $0.97, down from $1.14 a year ago, resulting in an EPS surprise of -3.96% compared to the consensus estimate of $1.01 [1] Financial Performance Metrics - Tyson's stock has returned +12.6% over the past month, outperforming the Zacks S&P 500 composite's +0.7% change, and currently holds a Zacks Rank 3 (Hold) [3] - Year-over-year volume changes showed a decline of 0.3% overall, with specific categories such as Chicken increasing by 3.7% and Beef decreasing by 7.3% [4] - Sales figures for Chicken reached $4.21 billion, surpassing the $4.11 billion estimate, while Beef sales were $5.77 billion, exceeding the $5.64 billion estimate, reflecting increases of +3.6% and +8.2% year-over-year respectively [4] - Prepared Foods sales were reported at $2.67 billion, above the $2.59 billion estimate, indicating an +8.1% year-over-year change [4] - Pork sales were $1.61 billion, slightly below the $1.65 billion estimate, showing a -0.5% year-over-year change [4] - Adjusted Operating Income for Beef was reported at -$143 million, worse than the average estimate of -$94.14 million [4]

Financial Data and Key Metrics Changes - Total company sales grew 6.2% to $14.3 billion compared to the prior year, led by Beef with contributions from Prepared Foods, Chicken, and Pork [29][30] - First quarter segment operating income was $811 million, down 12% compared to the prior year, primarily due to the decline in the beef segment [30] - Adjusted earnings per share for the quarter were $0.97, down 15% compared to last year, influenced by a higher tax rate [31] Business Line Data and Key Metrics Changes - Prepared Foods segment sales increased by 8.1% year-over-year, with segment operating income reaching $338 million, up $16 million from the prior year [21][10] - Chicken segment operating income was $459 million, with a margin of 10.9%, driven by efficient marketing and promotional expenses [11][25] - Beef segment sales increased, but segment operating income declined due to higher cattle costs, reflecting ongoing challenges in the market [26] - Pork segment operating income margin increased by 220 basis points to 6.7%, supported by network optimization and operational efficiencies [27] Market Data and Key Metrics Changes - Retail branded products grew by 2.5% in volume and 3.6% in dollars, outperforming the broader food and beverage retail category [18] - The chicken segment saw a 3.6% year-over-year sales growth driven entirely by volume and strong consumer demand [24] - The international segment continued its momentum, contributing positively to overall performance [14] Company Strategy and Development Direction - The company is focused on becoming a diversified, protein-centric entity to capture growing demand for high-quality protein [8] - Strategic decisions include closing the Lexington, Nebraska facility and scaling back operations at the Amarillo, Texas plant to improve efficiency and align with long-term market outlook [12] - The company emphasizes operational excellence, brand investments, and innovation to capture market share [8][19] Management's Comments on Operating Environment and Future Outlook - Management expects tight cattle supplies to persist through 2026 and 2027, with chicken likely benefiting from changing consumer preferences [13] - The updated U.S. dietary guidelines validate the company's mission to provide high-quality protein, aligning public health priorities with consumer demand [14][16] - Management expresses confidence in the company's ability to navigate a dynamic market landscape and achieve growth [38] Other Important Information - The company has reduced gross debt by $1.4 billion over the last 12 months, improving its balance sheet and financial strength [33] - Free cash flow for the first quarter was approximately $700 million, significantly ahead of dividends for the quarter [33] Q&A Session Questions and Answers Question: Rationale behind the change in segment reporting - Management explained that the change to segment operating income was intentional to provide better visibility into business performance and to empower leaders to pursue volume growth without the burden of corporate overhead [42][43][46] Question: Prepared Foods pricing and input cost inflation - Management indicated that the 8% sales increase in Prepared Foods was due to a combination of channel mix and formula-based pass-through pricing, with pricing catching up to raw material costs [52][53] Question: Trends in the beef segment and capacity closures - Management acknowledged the dynamic situation in the beef segment, highlighting higher cattle costs and the impact of recent capacity closures on future profitability [63][64][66] Question: Updated views on the chicken industry - Management expressed confidence in the chicken market, expecting manageable production growth and strong demand, with Tyson well-positioned to capitalize on these trends [72][75]

Tyson Foods (NYSE:TSN) Q1 2026 Earnings call February 02, 2026 09:00 AM ET Company ParticipantsCurt Calaway - CFODevin Cole - COODonnie King - CEOJon Kathol - VP of Investor RelationsKristina Lambert - Chief Growth OfficerPeter Galbo - Director in Equity ResearchPooran Sharma - Managing Director of Equity ResearchConference Call ParticipantsAlexia Howard - Senior AnalystAndrew Strelzik - Senior AnalystBen Theurer - Mananging Director and Equity Research AnalystLeah Jordan - Equity Research AnalystMichael La ...

Financial Data and Key Metrics Changes - Total company sales grew by 6.2% to $14.3 billion compared to the prior year, driven by strong demand across multiple segments [23][24] - First quarter segment operating income was $811 million, down 12% year-over-year, primarily due to declines in the beef segment [24] - Adjusted earnings per share for the quarter were $0.97, down 15% compared to last year, influenced by a higher tax rate [24] Business Line Data and Key Metrics Changes - Prepared Foods segment sales increased by 8.1% year-over-year, with segment operating income rising to $338 million, up $16 million from the prior year [17][24] - Chicken segment achieved $459 million in segment operating income, maintaining a margin of 10.9%, driven by efficient marketing and promotional expenses [8][19] - Beef segment faced challenges, with sales increasing but segment operating income declining due to higher cattle costs [20][24] - Pork segment operating income margin increased by 220 basis points to 6.7%, supported by operational efficiencies [21] Market Data and Key Metrics Changes - Retail branded products grew by 2.5% in volume and 3.6% in dollars, outperforming the broader food and beverage retail category [13] - The chicken segment saw a 3.6% year-over-year sales growth driven entirely by volume and strong consumer demand [19] - The international segment continued to perform well, contributing positively to overall results [10] Company Strategy and Development Direction - The company is focused on becoming a diversified, protein-centric organization to capture growing demand for high-quality protein [5][10] - Strategic decisions were made to right-size the beef operations, including facility closures, to improve capacity utilization and align with long-term market outlooks [9][20] - The company is committed to operational excellence, innovation, and strategic capital deployment to strengthen its competitive position [5][10] Management Comments on Operating Environment and Future Outlook - Management expects tight cattle supplies to persist through 2026 and 2027, with chicken likely benefiting from changing consumer preferences [10][16] - The updated U.S. dietary guidelines are seen as a validation of the company's mission to provide high-quality protein, aligning public health priorities with consumer demand [11][12] - Management expressed confidence in the company's ability to navigate a dynamic market environment and achieve growth [31] Other Important Information - The company has made significant progress in reducing gross debt by $1.4 billion over the last 12 months, improving its balance sheet [25] - Free cash flow for the first quarter was approximately $700 million, well ahead of dividends for the quarter [25] Q&A Session Summary Question: Rationale behind segment reporting changes and free cash flow - Management explained that the change to segment operating income was intentional to provide better visibility and accountability for business leaders, allowing for improved decision-making [34][35][36] Question: Trends in the beef segment and impact of capacity closures - Management acknowledged the dynamic and volatile situation in the beef segment, highlighting the need for operational adjustments to improve efficiency and profitability [54][56] Question: Update on chicken industry outlook - Management indicated that the chicken market remains balanced, with strong demand and manageable supply growth projected for 2026 [62][64] Question: Corporate amortization decrease - The decrease in corporate expenses and amortization was attributed to a focus on overhead cost reductions, particularly team member-related costs [67]

Q1 Fiscal 2026 Supplemental Information February 2, 2026 Forward-Looking Statements Certain information in this presentation constitutes forward-looking statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, current views and estimates of our outlook for fiscal 2026, other future economic circumstances, industry conditions in domestic and international markets, our performance and financial results (e.g., debt leve ...

Core Insights - Tyson Foods, Inc. reported a sales increase of 5.1% year-over-year, reaching $14,313 million in the first quarter of fiscal 2026, despite a $150 million increase in legal contingency accruals impacting sales [5][6] - The company experienced a significant decline in operating income, with GAAP operating income down 48% to $302 million and adjusted operating income down 13% to $572 million compared to the previous year [5][6] - Net income per share attributable to Tyson decreased by 76% to $0.24, while adjusted net income per share fell 15% to $0.97 [5][6] Financial Performance - Sales for the first quarter of fiscal 2026 were $14,313 million, compared to $13,623 million in fiscal 2025, marking a 5.1% increase [5][6] - GAAP operating income was $302 million, down from $580 million in the prior year, resulting in a GAAP operating margin of 2.1% [5][6] - Adjusted operating income was $572 million, down from $659 million, with an adjusted operating margin of 4.0% [5][6] Segment Performance - Beef segment sales decreased by 7.3% to $5,771 million, while the average price increased by 17.2% [4][6] - Pork segment sales were $1,609 million, up 1.6%, with both volume and average price increasing by 1.6% [4][6] - Chicken segment sales rose by 3.7% to $4,212 million, with a slight decrease in average price by 0.1% [4][6] - Prepared Foods segment sales increased by 0.2% to $2,673 million, with an average price increase of 7.9% [4][6] Outlook for Fiscal 2026 - The USDA projects a 1% increase in domestic protein production for fiscal 2026 compared to fiscal 2025 [11] - Tyson anticipates total company adjusted operating income between $2.1 billion and $2.3 billion for fiscal 2026 [18] - Sales are expected to grow by 2% to 4% in fiscal 2026 compared to fiscal 2025 [19] - Capital expenditures are projected to be between $0.7 billion and $1.0 billion, focusing on profit improvement and maintenance projects [20] Liquidity and Cash Flow - As of December 27, 2025, the company reported liquidity of $4.5 billion, expected to remain above the minimum target of $1.0 billion [22] - Free cash flow is anticipated to be between $1.1 billion and $1.7 billion for fiscal 2026 [23]

川观新闻记者 李菲菲 文/图 "太贵了，一斤瓜子居然都要23块钱！"2026年春节脚步渐近，年货市场人气持续攀升，作为家家户户必备的"嗑瓜子"年货，瓜子的价格走势成为近期网友热 议的话题。 2月2日，川观新闻记者走访本地市场发现，不同销售渠道的瓜子价差明显。社区干杂店的散装瓜子，单价多在8至14元/斤，主打亲民实惠；连锁品牌炒货店 的同口味产品，价格在20元上下，口味选择多样；而瞄准高端礼品市场的门店，瓜子售价则超30元/斤，多以精美礼盒包装亮相。 社区炒货零售店的瓜子。 有趣的是，在琳琅满目的年货炒货中，瓜子的定价其实已属于"亲民梯队"。记者对比发现，坚果、果干、蜜饯等同类产品，单价跨度更大，从几十元到数百 元一斤不等。 一斤瓜子的开销，几乎能买下两斤猪肉。面对这样的价格，今年春节，还能愉快嗑瓜子吗？ 近20元一斤的瓜子。 一斤坚果卖出百元高价 "以前过年，家里的瓜子都是10斤起囤。"在成华区某商超的炒货专柜前，市民张晓洁掂了掂手中的小包装瓜子，无奈地说道。眼下20元一斤的售价，让习惯 了"大袋采购"的她，只能选小份装解解馋。 有同样感受的市民不在少数。市民杨磊给记者算了一笔账：每年春节，光是采购炒货就要花 ...

Group 1 - The core event was a tea gathering titled "Riding Together for Spring Festival," organized by the Shenyang Beixin District Committee and the Xinchengzi Street, aimed at fostering communication among various community stakeholders, including new employment groups and state-owned enterprises [1] - The tea gathering served as a platform for "two new" organizations to connect government, enterprises, and new employment groups, emphasizing the importance of community governance and support for new workers [2] - The event highlighted social responsibility, with the Shenyang Charity Association and Daomeng Rice Industry providing "micro-wish gift packages" to delivery workers, showcasing the community's care and traditional cultural values [3] Group 2 - The "Rider's Council" was a significant part of the tea gathering, allowing new employment group representatives to voice their opinions on community governance issues, leading to practical suggestions for local improvements [4] - Since 2025, the community committee has collected over 60 suggestions through the "Rider's Council," addressing various local issues such as road repairs and expanding partnerships with private enterprises [4] - In 2026, the Shenyang Beixin District plans to hold eight series of activities for new employment groups during the Spring Festival, aiming to enhance community governance through direct engagement and support [4]

Core Insights - The company reported a net sales increase of 4.6% to $314.8 million, driven by a 15.8% rise in weighted average sales price per pound, despite a 9.7% decline in sales volume [4][6] - The company is facing challenges from shifting consumer behavior, health trends, and elevated retail prices impacting overall sales volume, but is focusing on aligning its product portfolio with health priorities and expanding innovation [5][20] Sales Performance - Bar sales declined due to low inventory levels in the prior year and a strategic reduction in sales to a grocery retailer [1] - In the consumer distribution channel, sales volume fell 8.4%, primarily due to a 7.9% drop in private brand sales, with nuts and trail mix also experiencing declines [2] Profitability and Costs - Gross profit increased by $6.9 million, or 13.2%, to $59.2 million, attributed to higher net sales and better alignment of selling prices with commodity acquisition costs [7] - Gross margin rose to 18.8% from 17.4% year-over-year, while operating expenses remained flat, increasing only $300,000 [8] Inventory and Commodity Costs - Inventory levels increased by $29.6 million, or 14.4%, due to higher commodity acquisition costs and planned demand [10] - The weighted average cost per pound of raw nuts and dried fruit increased by 11.8% year-over-year, driven mainly by higher acquisition costs for most major nut types [11] Year-to-Date Results - For the first two quarters of fiscal 2026, net sales increased by 6.3% to $613.5 million, with a 12.2% increase in weighted average selling price per pound, despite a 5.3% decline in volume [12] - Year-to-date gross margin improved to 18.5% from 17.1% a year earlier [13] Strategic Initiatives - The company is focusing on expanding its snack and energy bar business, with 85% of new bar equipment on-site or in transit, aiming to begin production in July 2026 [15] - Management is implementing "Optimize for Growth" initiatives to enhance cost optimization and efficiency across various operations [17] Financial Position - The company paid a special dividend of $1 per share, reflecting a strong financial position and disciplined capital allocation [18] - Interest expense declined to $500,000 from $800,000, while net income rose to $18.0 million, or $1.53 per diluted share [9] Future Outlook - The company is cautiously optimistic about the second half of fiscal 2026, citing recent commercial momentum and new business wins, while acknowledging ongoing economic risks [20]