Tyson Foods Shares Slip On Q3 Bottom-Line Miss

Tyson Foods Inc TSN reported third-quarter FY22 sales growth of 8.1% year-on-year to $13.49 billion, above the consensus of $13.24 billion.
Sales volume of Beef rose 1.3% Y/Y, Pork fell 1.7%, Chicken declined 2.1%, and Prepared Foods decreased 8.5%.
Gross profit decreased 0.5% Y/Y to $1.6 billion, with the margin contracted 100 basis points to 11.9%.
The operating margin contracted 90 basis points to 7.6%, and operating income for the quarter increased 2.7% to $1 billion.
Adjusted EPS of $1.94 missed the analyst consensus of $1.97.
The company held $1.1 billion in cash and equivalents as of July 2, 2022. Cash provided by operating activities for the nine months amounted to $1.9 billion.
Adjusted EBITDA for nine months ended July 2, 2022, increased 11.6% to $4.5 billion.
Outlook: Tyson Foods expects FY22 sales of $52 billion - $54 billion, versus the consensus of $52.80 billion.
Price Action: TSN shares are trading lower by 3.95% at $84.00 in premarket on the last check Monday.

Momentum74.80

Growth52.14

Quality72.97

Value57.55

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