Tyson Foods, Inc. (NYSE:TSN) stock fell 1.39% (As on Feb 8, 11:41:50 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 22. Adjusted net income for the fiscal first quarter was $1.12 billion, a 140% increase from $467 million. Sales in the Beef segment increased to $5,002 million from $3,987 million reported in the year-ago quarter. Volume declined 6.2% due to the challenging labor environment and escalated supply chain constraints, which was somewhat offset by solid global demand. The average price increased 31.7% on the back of input cost increases like live cattle, labor, freight and transportation costs as well as solid demand for beef products. Sales in the Pork segment increased to $1,626 million from $1,439 million reported in the year-ago quarter. Sales volume inched up 0.2%,owing to solid global demand offset by the impacts of a tough labor environment. The average price increased 12.8% as input costs like live hog, labor, freight and transportation expenses increased along with solid pork products demand. Sales in the Chicken segment increased to $3,890 million from $2,831 million reported in the year-ago quarter. Sales volume increased 3.6%, mainly due to higher live production and a solid demand environment. Sales in the Prepared Foods’ segment rose to $2,333 million from $2,113 million reported in the year-ago quarter. Prepared Foods’ sales volume declined 2.6%, thanks to reduced production throughput stemming from tough labor and supply environment. Divestiture of its pet treats business (concluded in fourth-quarter fiscal 2021) also hurt the metric. The company exited the quarter with cash and cash equivalents of $2,956 million, long-term debt of $8,274 million and total shareholders’ equity (including non-controlling interests) of $18,542 million. Liquidity was $5.2 billion as of Jan 1, 2022. Management expects liquidity to remain above the company’s minimum target of $1 billion. The company projects capital expenditures to be nearly $2 billion for fiscal 2022.

TSN in the first quarter of FY 22 has reported the adjusted earnings per share of $2.87, beating the analysts’ estimates for the adjusted earnings per share of $1.90, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue of $12.93 billion in the first quarter of FY 22, beating the analysts’ estimates for revenue of $11.84 billion.