Tyson Foods Q4 net income $1.12 billion
Christian Fernsby | ▼ February 8, 2022
Tyson Foods reported Monday a profit for the first quarter that more than doubled from last year, reflecting sales growth amid strong consumer demand.
Article continues below
Topics: TYSON FOODS
Tyson Foods also maintained its sales guidance range for the full-year 2022, but now expects it at the upper end of the range.
"Our performance reflects the resilience of our multi-protein portfolio even with continued volatility in the marketplace," said Donnie King, President and CEO of Tyson Foods.
Tyson Foods reported net income attributable to the company for the quarter of $1.12 billion or $1.90 per share, up from $467 million or $1.28 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $2.87 per share, compared to $1.94 per share in the year-ago quarter.
Sales for the quarter edged up 0.3 percent to $12.93 billion from $10.46 billion in the same quarter last year.
Beef sales volume decreased 6.2 percent to $5.0 billion, primarily due to challenging labor environment and increased supply chain constraints, partially offset by strong global demand.
Pork sales volume edged up 0.2 percent to $1.63 billion, as strong global demand was offset by the impacts associated with a challenging labor environment.
Chicken sales volume increased 3.6 percent to $3.89 billion, primarily due to increased live production and a strong demand environment.
Prepared Foods sales volume decreased 2.6 percent to $2.33 billion, due to the divestiture of our pet treats business in the fourth quarter of fiscal 2021 as well as lower production throughput primarily associated with a challenging labor and supply environment.
Looking ahead to fiscal 2022, the company projects sales to be at the upper end of the $49 billion to $51 billion range.
The company also expects capital expenditures of approximately $2 billion for fiscal 2022. ■ What to read next
Residents in coastal North Carolina and Virginia braced for potential flooding after Tropical Storm Ophelia made landfall near a North Carolina barrier island on Saturday morning, bringing rain, damaging winds and dangerous surges of water.
Latest Yves Delorme, luxury linen for kings and you
Libya: 245 bodies recovered in one day in flood-stricken Derna city
Paris prosecutors seek EU funding trial for Marine Le Pen and 26 associates over EU funds
Over 18 kg psychotropic drugs seized in eastern Myanmar, 5 arrested
Earthquake magnitude 6.3 hits eastern Indonesia
Italian military arrest over 50 mafia suspects
Italy's former president Giorgio Napolitano dies at age of 98
Philippines issues health warning as capital Manila hit by smog, volcanic gas
Operations cofunded by EU lead to 197 arrests in Spain
U.S. energy firms cut oil and gas rigs to 630
New York City launches New York City Mass Timber Studio
£10 million flood defence project reaches new milestone
Major wind power project goes operational in China's Sichuan
2Africa submarine cable landed in Congo
Initiative to position Scotland as European hub for recycling and repurposing of wind turbine blades
UK trade envoy Faulkner in Taiwan to strengthen ties
Uzbekistan and South Korea plan to create joint transport and logistics companies
Canada imposes additional sanctions against members of Haitian economic elite
New York Governor Hochul signs legislation to protect consumers from surprise price increases in energy bills
Today We Recommend Highlights
DHL will create 130 jobs at its biomethane production facility in Cork, Ireland
Italy: €30 million EIB loan to Mermec for rail system digitalisation
Mercedes drivers in London and Surrey facing repairs woe as Hedin Automotive workers strike over pay
California finds Nestle unlawfully bottling spring water for over 100 years
Shimano recalls 760,000 cranksets for bicycles
Lithium Energi Exploration appoints Jason Nalewanyj as CFO
High Liner Foods appoints Paul Jewer as interim CEO
BP CEO resigns over personal relationships with colleagues, Auchincloss new interim CEO
Norgine appoints Saulo Martiniano as COO
Greenbrook announces key promotions, expansion of its senior team
Canadian economy set for another quarter of limited growth
World Bank: Tanzania's economy set to grow by 5.1 pct in 2023
New Zealand GDP up 0.9 pct quarterly
Malaysia's tourism contributes 14 pct to GDP in 2022
Japan books trade deficit of 6.3 bln USD in August
FedEx Q1 profit $1.08 billion
Darden Restaurants Q1 profit $194.5 million
General Mills Q1 profit $673.5 million
AutoZone Q4 profit $864.84 million
LightInTheBox Q2 revenues increased by 44.9%
Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
All bee colonies in Switzerland are sick
Russian producers received record compensation for hogs lost to ASF
Morocco sends over half of its tomato exports to France
European Commissioner provided Slovenia with funds to repair damage in agriculture
New York: Over $13.8 million for clean water and farmers
How managers can encourage employees to share their best ideas
More than 50% of software leader roles will explicitly require oversight of generative AI
Gartner survey: Half of candidates accepted job offer and backed out before starting
Educational bootcamps can help people switch careers, says study
Foreign CEOs more likely to be dismissed from firms
Commission fines defence company €1.2 million in cartel settlement
SEC charges Aras Investment Business Group in Ponzi scheme targeting Spanish speaking U.S. investors
SEC charges Lyft with failure to disclose board member’s interest in private shareholder’s transaction before IPO
California reaches $93m settlement with Google over violations of location privacy
FTC: TruthFinder, Instant Checkmate deceived users about background report accuracy
Festival of films made by kids returns to Blatimore, Md.
World's glass blowing artists will come to Jack Pine Glass Pumpkin Festival
Cous Cous Fest in Sicily, make cous cous not war
Zeppelin flies again and it's better than ever
Scottdale Fall Festival, from food to fun
Ares Modena S1 is real take on Corvette
Toyota to launch new Century in Japan
Alfa Romeo 33 Stradale, pure beauty with 750 hp
Grand Soleil 40, fast and responsive boat
Zenvo Aurora, Danish miracle with turbocharged V12 engine
Ballerina kitchens, the dance of style and function
Big ideas for small interiors
How to choose colors for your walls
Vintage chairs to embellish any room
New Rolex watches for 2023
HP Spectre Foldable PC, interesting laptop but $5000 for it is way too much
Deutsche Telekom Fairphone 5, sustainable and ethical smartphone you can repair yourself
Canon MS-500, ultra sensitive camera for professionals
Nikon Z 8, full frame mirrorless camera for professionals
Reed Muse 3A turntable, good design and even better music
Study finds wrist temperature linked with future risk of disease
Almost everyone in Europe breathing toxic air
Clinical trial of HIV vaccine begins in U.S. and South Africa
Wild poliovirus detected from environmental samples in Pakistan
BioNTech and CEPI to develop mRNA based vaccine for mpox prevention
China builds first antenna for world's largest radio telescope array
James Webb and ALMA capture core of most distant galaxy protocluster
'Alien' bodies are complete skeletons, scientists say
NASA mission to stop asteroid Bennu from colliding with Earth ends this week
New research reveals why and when Sahara Desert was green