Tyson Foods, Inc. (TSN) Q1 2025 Earnings Call Transcript

For the period ending December 28, 2024

February 3, 2025 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, everyone, and welcome to the Tyson Foods Fourth Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please also note today's event is being recorded.

At this time, I'd like to turn the floor over to Sean Cornett from the Investor Relations team. Sir, please go ahead.

Sean Cornett

Good morning, and welcome to Tyson Foods fiscal first quarter 2025 earnings conference call. On today's call, Tyson's President and Chief Executive Officer, Donnie King; and Chief Financial Officer, Curt Calaway, will provide prepared remarks, followed by Q&A.

Additionally, joining us today are Brady Stewart, Group President, Beef, Pork, and Chief Supply Chain Officer; Kyle Narron, Group President, Prepared Foods; Wes Morris, Group President, Poultry; Devin Cole, President, International and Global McDonald's; and Melanie Boulden, Chief Growth Officer. We have also prepared a supplemental presentation, which may be referenced on today's call and is available on Tyson's Investor Relations website and via the link in our webcast.

During today's call, we will make forward-looking statements regarding our expectations for the future. These forward-looking statements made during this call are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all comments reflecting our expectations, assumptions, or beliefs about future events or performance that do not relate solely to historical periods.

These forward-looking statements are subject to risks, uncertainties, and assumptions, which may cause actual results to differ materially from our current projections. Please refer to our forward-looking statement disclaimers on Slide 2, as well as our SEC filings for additional information concerning risk factors that could cause our actual results to differ materially from our projections. We assume no obligation to update any forward-looking statements.

Please note that references to earnings per share, operating income, and operating margin in our remarks are on an adjusted basis unless otherwise noted. For reconciliations of these non-GAAP measures to their corresponding GAAP measures, please refer to our earnings press release.

Now, I'll turn the call over to Donnie.

Donnie King

Thanks, Sean. Fiscal 2025 is off to a solid start. The strong results in the first quarter increased our confidence in the year ahead, enabling us to raise our full year guidance. Our results this quarter were driven by another robust performance in Chicken, highlighted by the best first quarter adjusted operating income for the segment. We delivered better than expected results in beef and significant improvement in profitability in international and other, while prepared foods continue to generate solid profits and margins.