Tyson Foods, Inc reported impressive Q1 fiscal 2022 results, with the top and bottom-line results surging year over year, according to a press release by Tyson Foods on Monday.
- Total sales stood at $12,933 million, increasing 23.6% from $10,460 million reported in the year-ago quarter.
- Gross profit in the quarter stood at $2,015 million, increasing from $1,177 million posted in the prior-year quarter. Adjusted operating margin grew to 11.1% from 9.5% posted in the year-ago quarter.
- Sales in the beef segment rose to $5,002 million from $3,987 million in the same quarter last year.
- Meanwhile, volume dropped 6.2% due to the challenging labor market and increasing supply chain constraints that were offset by solid global demand.
- The management projects liquidity to remain above the company’s minimum target of $1 billion.
For 2022, the management started a new productivity initiative to promote an improved, faster and more agile organization. Sales are projected to be in the upper-end range of $49 to $51 billion in fiscal 2022. TSN up +11.54%