Tyson Foods, Inc. · NYSE:TSN
Tyson Foods — Q2 2019 Earnings Presentation
17 slides from Tyson Foods's earnings presentation, May 6, 2019
Slide 1: Q2 Fiscal 2019 Supplemental Information
— Q2 Fiscal 2019 Supplemental Information May 6, 2019 Tyson Foods, Inc.
Slide 2: Today's Speakers
Today’s Speakers Noel White Stewart Glendinning President & CEO EVP & CFO
Slide 3: Forward-Looking Statements
Certain information in this report constitutes forward-looking statements. Such forward-looking statements include, but are not limited to, current views and estimates of our outlook for fiscal 2019, other future economic circumstances, industry conditions in domestic and international markets, our
Slide 4: Q2'19 Highlights
Q2’19 Highlights ($ in millions, except per share data) Sales $10,443 • Adjusted EPS of $1.20 1 Adjusted Operating Income1 $654 Adjusted Operating Margin1 6.3% • Adjusted operating income of $654M 1 Adjusted EPS1 $1.20 • Adjusted operating margin of 6.3% 1 Adjusted Operating Income & Margin1 • Recor
Slide 5: Prepared Foods Segment Results
Prepared Foods Segment Results Q2’19 Adjusted Q2’19 Operating Income & Margin1 2 Sales volume ↓0.6% (excld. divestitures) 2 ($ in millions) Average price ↑0.1% (excld. divestitures) Dollars ROS FY19 Outlook 1 Adjusted Operating Margin $249 12.3% 10-12% 1Represents a non-GAAP financial measure. Adjus
Slide 6: Volume Performance Core & Total Tyson
Volume Performance Core 9 & Total Tyson Volume Sales % Change vs. Prior Year (13 weeks ending April 20, 2019) 5.3% 4.3% 2.7% Total 0.7% F&B CORE 9 TOTAL -0.4% -0.6% -1.0% -1.5% -1.6% -2.0% -3.8% -5.0% Source: Nielsen Total U.S. xAOC Fixed Weight Volume EQ Sales 13 weeks ending 04/20/2019 Product = T
Slide 7: Jimmy Dean
Jimmy Dean® Frozen Protein Breakfast Sales Volume Up 6% Sales Dollars Up 6+% Source: Nielsen Total US + AOC, 13 weeks ending April 20, 2019 7 Tyson Foods, Inc. May 6, 2019
Slide 8: Our Strategy
Our Strategy — Sustainably feed the world with the fastest growing protein brands. How We Will Achieve Our Strategy Grow Deliver Sustain our businesses ongoing financial fitness our company and through differentiated through continuous our world for future capabilities. improvement. generations.
Slide 9: Beef Segment Results
Beef Segment Results Q2’19 Adjusted Q2’19 Operating Income & Margin1 Sales volume ↑3.2% ($ in millions) Average price ↑2.3% Dollars ROS FY’19 Outlook 1 Adjusted Operating Margin $156 4.0% ~7% 1Represents a non-GAAP financial measure. Adjusted operating income and adjusted operating margin are explai
Slide 10: Pork Segment Results
Pork Segment Results Q2’19 Adjusted Q2’19 Operating Income & Margin1 Sales volume ↑1.0% ($ in millions) Average price ↓8.3% Dollars ROS FY’19 Outlook 1 Adjusted Operating Margin $100 8.5% exceed 6% 1Represents a non-GAAP financial measure. Adjusted operating income and adjusted operating margin are
Slide 11: Chicken Segment Results
Chicken Segment Results Q2’19 Adjusted Q2’19 Operating Income & Margin1 Sales volume ↑26.2% (incl. acquisitions) ($ in millions) Average price ↓11.0% (incl. acquisitions) Dollars ROS FY’19 Outlook 1 Adjusted Operating Margin $150 4.4% around 6% 1Represents a non-GAAP financial measure. Adjusted oper
Slide 12: Q2'19 Highlights
Q2’19 Highlights ($ in millions, except per share data) Sales $10,443 • Adjusted EPS of $1.20 1 Adjusted Operating Income1 $654 Adjusted Operating Margin1 6.3% • Adjusted operating income of $654M 1 Adjusted EPS1 $1.20 • Adjusted operating margin of 6.3% 1 Adjusted Operating Income & Margin1 • Recor
Slide 13: FY'19 Outlook
FY’19 Outlook SALES CAP EX ADJUSTED EPS1 ~$43B ~$1.3-1.4B $5.75-6.10 ADJUSTED OPERATING MARGIN1 PREPARED FOODS BEEF PORK CHICKEN 10-12% ~7% exceed 6% around 6% 1 Projected Adjusted EPS as of 5/6/19. Represents a non-GAAP financial measure. Adjusted EPS and adjusted operating margin are explained and
Slide 14: Our Strategy
Our Strategy — Sustainably feed the world with the fastest growing protein brands. How We Will Achieve Our Strategy Grow Deliver Sustain our businesses ongoing financial fitness our company and through differentiated through continuous our world for future capabilities. improvement. generations.
Slide 15: Appendix
Appendix Tyson Foods, Inc.
Slide 16: EPS Reconciliations
EPS Reconciliations Six Months Ended Second Quarter March 30, 2019 In millions, except per share data Pretax Impact EPS Impact Pretax Impact EPS Impact (Unaudited) 2019 2018 2019 2018 2019 2018 2019 2018 Reported net income per share attributable to Tyson $1.17 $0.85 $2.67 $5.25 Add: One-time cash b
Slide 17: Segment Operating Income & Operating Margin Reconciliations
Segment Operating Income & Operating Margin Reconciliations In millions, except Adjusted Segment Operating Income (Loss) per share data (for the second quarter ended March 30, 2019) (Unaudited) Prepared Intersegment Beef Pork Chicken Foods Other Sales Total Sales $ 3,884 $ 1,172 $ 3,407 $ 2,027 $ 27