Categories Analysis, Consumer

What to expect when Tyson Foods (TSN) reports Q2 earnings next week

Analysts are projecting revenue of $13.6 billion for Tyson in Q2 2023

Shares of Tyson Foods Inc. (NYSE: TSN) were down on Wednesday. The stock has dropped 6% over the past three months. The company is scheduled to report its second quarter 2023 earnings results on Monday, May 8, before market open. Here’s what to expect from the earnings report:


Analysts are projecting revenue of $13.6 billion for Tyson in Q2 2023, which would represent an increase of nearly 4% from the same period a year ago. In the first quarter of 2023, sales increased 2.5% year-over-year to $13.2 billion.


The consensus estimate is for EPS of $0.80 in Q2 2023, which is down from EPS of $2.29 reported in the year-ago quarter. In Q1 2023, adjusted EPS was $0.85, down 70% year-over-year.


Points to note

In the first quarter of 2023, Tyson reported sales growth helped by strength in the Chicken, Prepared Foods, and International segments. The company is optimistic on the potential of its Prepared Foods business and the strength of its retail brands in this segment. Prepared Foods has benefited from volume growth and pricing actions and this momentum is likely to continue in Q2. The Chicken segment also benefited from higher volume and pricing actions during the first quarter.

Tyson’s results in Q1 were impacted by lower demand in beef and pork. In addition, the company continues to feel the pressure of higher costs which has hurt its margins and taken a toll on its profitability. This is likely to pose a challenge in the second quarter as well.

In an effort to tackle rising costs, Tyson decided to shut down two of its poultry farms in the US and lay off nearly 1,700 workers. The company also announced that it was going to cut 10% of corporate jobs and 15% of its senior leadership team. These are significant areas to keep an eye on in the Q2 report.

Most Popular

COST Earnings: A snapshot of Costco’s Q4 2023 financial results

Costco Wholesale Corporation (NASDAQ: COST), which operates a chain of membership warehouses, on Tuesday reported results for the fourth quarter of fiscal 2024. The company posted revenues of $78.9 billion

What to look for when McCormick & Co. (MKC) reports Q3 2023 earnings

Shares of McCormick & Company Inc. (NYSE: MKC) were down on Tuesday. The stock has fallen 19% over the past three months. The spices and seasonings maker is scheduled to report its

Cintas Corporation (CTAS) Q1 2024 Earnings: Key financials and quarterly highlights

Cintas Corporation (NASDAQ: CTAS) reported first quarter 2024 earnings results today. Revenue was $2.34 billion, up 8.1% from the same period last year. Organic revenue growth was also 8.1%. Net

Add Comment
Viewing Highlight