Tyson Foods said it recorded operating income of $341 million for the third quarter of fiscal 2024, compared with an operating loss of $350 million in the same quarter a year earlier. The company cited higher operating income in its Chicken segment and International/Other, partially offset by lower operating income in its Beef segment as the main factors.

10-QQuarterly reportFiled Aug 5, 2024Period of report Jun 29, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Tyson Foods said it recorded operating income of $341 million for the third quarter of fiscal 2024, compared with an operating loss of $350 million in the same quarter a year earlier. The company cited higher operating income in its Chicken segment and International/Other, partially offset by lower operating income in its Beef segment as the main factors.
The company said its fiscal 2024 operating income for Q3 reflected $101 million in legal contingency accruals and $41 million in plant closure charges. In the same quarter a year earlier, it recorded $448 million in goodwill impairment charges.
Tyson Foods said it had $4.8 billion of liquidity and $1.3 billion of current debt as of June 29, 2024. The company said it intends to repay that current debt with the remaining proceeds from its $1.5 billion of senior notes issued in March 2024.
Tyson Foods said cash provided by operating activities for the first 9 months of fiscal 2024 was $2.0 billion, up $544 million from the same period a year earlier. The company attributed the increase to $377 million of higher earnings, net of non-cash items, and a $167 million increase in net changes in operating assets and liabilities.

Key figures

Quarter ended June 29, 2024

Revenue: $13.4B
Operating income: $341M
Net income: $191M
EPS: $0.54
Gross profit: $878M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Fiscal 2024 Third-Quarter Operating Income $341 million

Tyson Foods said it recorded operating income of $341 million for the third quarter of fiscal 2024, compared with an operating loss of $350 million in the same quarter a year earlier. The company cited higher operating income in its Chicken segment and International/Other, partially offset by lower operating income in its Beef segment as the main factors.

Source · Based on the MD&A text of the filing

Legal Contingency Accruals $101 million, Plant Closures $41 million in Q3

The company said its fiscal 2024 operating income for Q3 reflected $101 million in legal contingency accruals and $41 million in plant closure charges. In the same quarter a year earlier, it recorded $448 million in goodwill impairment charges.

Source · Based on the MD&A text of the filing

Liquidity $4.8 billion, Current Debt $1.3 billion as of June 29

Tyson Foods said it had $4.8 billion of liquidity and $1.3 billion of current debt as of June 29, 2024. The company said it intends to repay that current debt with the remaining proceeds from its $1.5 billion of senior notes issued in March 2024.

Source · Based on the MD&A text of the filing

Fiscal 2024 First 9-Month Operating Cash Flow $2.0 billion

Tyson Foods said cash provided by operating activities for the first 9 months of fiscal 2024 was $2.0 billion, up $544 million from the same period a year earlier. The company attributed the increase to $377 million of higher earnings, net of non-cash items, and a $167 million increase in net changes in operating assets and liabilities.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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