Tyson Foods(US:TSN)2023-02-06 19:09Financial Performance - Tyson Foods' total company sales increased by 2.5% year-over-year, from $12.93 billion in 1Q22 to $13.26 billion in 1Q23[10] - Adjusted operating income decreased significantly by 68%, from $1.432 billion in 1Q22 to $453 million in 1Q23[19] - Adjusted EPS also saw a substantial decrease of 70%, dropping from $2.87 in 1Q22 to $0.85 in 1Q23[19] Segment Performance - Beef sales decreased by 5.6%, from $5.00 billion in 1Q22 to $4.72 billion in 1Q23, with adjusted operating income decreasing by 87% from $956 million to $129 million[10, 26] - Pork sales decreased by 6.0%, from $1.63 billion in 1Q22 to $1.53 billion in 1Q23, with adjusted operating income decreasing by 112% from $164 million to -$19 million[10, 31] - Chicken sales increased by 9.6%, from $3.89 billion in 1Q22 to $4.26 billion in 1Q23, but adjusted operating income decreased by 34% from $117 million to $77 million[10, 34] - Prepared Foods sales increased by 8.8%, from $2.33 billion in 1Q22 to $2.54 billion in 1Q23, with adjusted operating income increasing by 43% from $186 million to $266 million[10, 42] - International/Other segment sales increased by 11.3%, from $0.55 billion in 1Q22 to $0.61 billion in 1Q23[10] Capital Allocation - The company invested $589 million in capital expenditures in 1Q23[8] - Tyson Foods returned $482 million to shareholders through dividends and share repurchases in 1Q23[8] Productivity and Savings - The company is on track to exceed $1 billion in productivity program savings in fiscal year 2023[7] - Targeting over $300 million of productivity gains in FY23 to achieve a total of $1B+ in recurring savings[17]