Sector: Consumer Staples|Industry: Farm Products|Market Cap: $20.70B|Employees: 138K
Tyson Foods is a world-class food company and a recognized leader in protein, operating a fully vertically-integrated production process. The company's primary revenue streams come from processing and marketing chicken, beef, and pork products, as well as prepared foods. Tyson Foods has a significant market position and competitive advantages through its well-known brands, extensive distribution network, and integrated operations, with key markets in the US and international presence.
Sales increased by $0.4 billion to $53.3 billion in fiscal 2024, largely due to higher average sales prices in the Beef segment. The company reported operating income of $1.409 billion in fiscal 2024 compared to an operating loss of $395 million in fiscal 2023, experiencing higher operating income in all segments except Beef.
Gross profit increased to $3.627 billion, with cost of sales decreasing by $568 million, driven by lower input costs, particularly in the Chicken segment. This indicates improved efficiency and profitability.
Selling, general, and administrative expenses decreased by $27 million, primarily driven by decreases in marketing, advertising, promotion expenses, restructuring, and related costs, indicating better cost management.