Company Remains Focused On Worker Health And Safety, Long Term Growth
Springdale, Arkansas – November 16, 2020 – Tyson Foods, Inc. (NYSE: TSN), one of the world’s largest food companies and a recognized leader in protein with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair, today reported the following results:
Fiscal 2020 Highlights
- GAAP EPS of $5.86, up 6% from prior year; Adjusted EPS of $5.64 (52-week basis), up 3% from prior year
- GAAP operating income of $3,114 million, up 10% from prior year; Adjusted operating income of $3,116 million (52-week basis), up 5% from prior year
- Total Company GAAP operating margin of 7.2%; Adjusted operating margin of 7.4% (52-week basis)
- Generated approximately $3.9 billion of operating cash flows
- Results negatively impacted by approximately $540 million of direct incremental expenses related to COVID-19
Fourth Quarter Highlights
- GAAP EPS of $1.90, up 88% from prior year; Adjusted EPS of $1.81 (13-week basis), up 50% from prior year
- GAAP operating income of $1,012 million, up 68% from prior year; Adjusted operating income of $961 million (13-week basis), up 40% from prior year
- Total Company GAAP operating margin of 8.8%; Adjusted operating margin of 9.0% (13-week basis)
- Liquidity of $3.2 billion at October 3, 2020
- Reduced total debt by $690 million
- Results negatively impacted by approximately $200 million of direct incremental expenses related to COVID-19
“Our business performed well and delivered strong fourth quarter and full-year results,” said Dean Banks, President & CEO of Tyson Foods. “Our team members, agricultural partners, and customers have shown resilience. This has enabled us to maintain and accelerate our efforts to provide global consumers with a safe and accessible food supply.”
“While we will continue to face pandemic-related challenges in fiscal 2021, we’re settling the business down to be focused on executing our long-term strategy while generating strong returns for shareholders. I’m excited for the opportunities ahead for this great company, and am certain we have the people, products, and strategies in place to drive future growth.”
