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Discover Latest #Restructuring News, Articles and Videos with Contenting

1. "DowDuPont Announces $3.3B Restructuring Plan to Cut Costs" - The Motley Fool, 2020 2. "Restructuring: What it is and How It's Used" - Investopedia, 2019 3. "The Basics of Corporate Restructuring" - The Balance, 2020 4. "The Impact of Corporate Restructuring on Employees" - Forbes, 2020 5. "Restructuring: What it Means for Investors" - Investopedia, 2020 6. "Restructuring: What it Means for Companies" - Investopedia, 2020 7. "Restructuring: What it Means for Shareholders" - Investopedia, 2020 8. "Restructuring: What it Means for Creditors" - Investopedia, 2020 9. "Restructuring: A Guide for Investors" - The Street, 2020 10. "Restructuring: What to Expect" - Investing Answers, 2020 11. "A Guide to Corporate Restructuring" - The Wall Street Journal, 2019 12. "Video:

ForexTV

24.01.2025

Signify reports full-year sales of EUR 6.1 billion, operational profitability of 9.9% and a free cash flow of 7.1% of sales; launches share repurchase program - ForexTV

Press Release January 24, 2025 Signify reports full-year sales of EUR 6.1 billion, operational profitability of 9.9% and a free cash flow of 7.1% of sales; launches share repurchase program Full year 20241 Signify's installed base of connected light points increased to 144 million at YE 24Included in the Dow Jones Sustainability World Index for the eighth consecutive yearSales of EUR 6,143 million; comparable sales growth (CSG) of -6.6%LED-based sales represented 93% of total sales (FY 23: 85%)Adj. EBITA margin of 9.9% (FY 23: 10.0%)Successful implementation of cost reduction program, delivering savings of EUR 131 million Net income of EUR 334 million (FY 23: EUR 215 million)Free cash flow of EUR 438 million (FY 23: EUR 586 million), representing 7.1% of sales Fourth quarter 2024 Sales of EUR 1,655 million; CSG of -2.8%Adj. EBITA margin of 12.4% (Q4 23: 12.1%)Net income of EUR 119 million (Q4 23: EUR 59 million)Free cash flow of EUR 188 million (Q4 23: EUR 295 million) Capital Allocation Successful reduction of EUR 440 million of gross debt in 2024Proposal to increase cash dividend to EUR 1.56 per share over 2024 (FY 23: EUR 1.55)Launch of share repurchase program of up to EUR 150 million for 2025 starting in Q1 2025; plan to repurchase EUR 350-450 million of shares until the end of 2027 Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, today announced the company’s fourth quarter and full-year 2024 results. Eric Rondolat, CEO of Signify, comments: "Today’s results show the continued momentum of our business. Despite headwinds in China and in the Professional business in Europe, we achieved further sequential improvements in the fourth quarter, with a particularly strong performance from the Consumer business.  We are encouraged by the improvements we have seen over the past quarters. We successfully managed the decline of the Conventional business, as the rest of the business performed in line with our markets. We continued to see growth in our connected and specialty lighting businesses, driven by underlying demand for energy efficient and innovative solutions.  We maintained a strong gross margin as we fully compensated price pressure in some markets with COGS savings. The cost reduction program we successfully implemented delivered EUR 131 million of savings in line with our commitment, supporting a resilient bottom line. Our Adjusted EBITA is 9.9% for the full year and includes a drag effect of 40 bps from the slowing contribution of the Conventional Business, highlighting our ability to navigate challenging market conditions with our three digital businesses.  We achieved a strong free cash flow of 7.1% of sales, which includes a cash out related to the restructuring program and a reduction of our US pension liabilities. Available free cash flow was used to reduce EUR 440 million of debt. As a result, we have strengthened our balance sheet and reduced interest charges for the coming years. Thanks to these achievements, we are updating our capital allocation policy. We will increase our dividend to 1.56 EUR per share in 2025 and will launch a share buyback program in Q1 of up to EUR 150 million to be executed by year-end. This is part of a planned EUR 350-450 million share buyback program planned until the end of 2027. Looking to 2025, we expect the momentum in our business will build throughout the year, resulting in low single digit topline growth for Signify excluding Conventional and a stable EBITA margin compared to 2024. On top of this, we are expecting a free cash flow generation in the range of 7-8% for the year. We are closing the year in a significantly stronger position than we entered it. While work remains to accelerate our progress and ensure our businesses deliver sustained growth for the years ahead, we have the structure and strategy in place to achieve our goals. Our accomplishments are made possible by the outstanding commitment of Signify employees around the world who have consistently approached complexity and change with dedication and adaptability.”   Brighter Lives, Better World 2025 Signify completed its fourth year of its Brighter Lives, Better World 2025 sustainability program, making continued progress towards doubling its positive impact on the environment and society by the end of 2025. Signify was on track to deliver on three of its sustainability program commitments: Double the pace of the Paris AgreementSignify is on track to reduce emissions across the entire value chain by 40% against the 2019 baseline - double the pace required by the Paris Agreement. This is driven by Signify's leadership in energy efficient and connected LED lighting solutions, which significantly reduce emissions during the use phase.  Double Circular revenuesCircular revenues decreased slightly from third quarter to 35% this quarter, still well ahead of the 2025 target of 32%. The main contribution was from serviceable luminaires. The decline was caused by the discontinuation of one specific luminaire family.  Double Brighter lives revenuesBrighter lives revenues increased to 33% this quarter, putting us ahead of our 2025 target of 32%. This includes strong performance from both professional luminaires and consumer light sources. Double the percentage of women in leadershipThe percentage of women in leadership positions dropped to 28%, off track versus the 2024 target. Signify continues its efforts to increase overall representation through focused hiring practices for diversity across all levels. Focus remains on building strong succession pipelines, and engagement actions to reduce attrition. In the fourth quarter, Signify received several external recognitions for its leadership in Sustainability. Signify was included in the DJSI World Index for the 8th consecutive year and achieved the EcoVadis Platinum rating for the 5th consecutive year.   Outlook For 2025, Signify expects sales momentum to build throughout the year, leading to low single digit comparable sales growth excluding Conventional. Signify also expects a stable Adjusted EBITA margin vs. 2024 with the Professional, Consumer and OEM combined compensating the drag of the Conventional business.  Signify targets a free cash flow generation of 7-8% of sales. Capital allocation Capital allocation policy Signify's capital allocation policy is to maintain a robust capital structure and maintain an investment grade credit rating, to pay an increasing annual cash dividend per share year on year, to continue to invest in organic and inorganic growth opportunities in line with its strategic priorities, and to provide additional capital return to shareholders with residual available cash. Debt Repayment In 2024, Signify successfully repaid EUR 440 million of gross debt and reduced its US pension liabilities by USD 48 million by settling the main defined benefit plan. The net debt/EBITDA leverage ratio reduced to 1.3x, from 1.7x in 2023, while avoiding a significant increase of annual interest charges in the coming years. DividendSignify proposes a cash dividend of EUR 1.56 per share for 2024, in line with its policy to pay an increasing annual cash dividend per share year on year. The dividend proposal is subject to approval at the Annual General Meeting of Shareholders (AGM) to be held on April 25th, 2025. Further details will be provided in the agenda for the AGM. Launch of share repurchase programSignify announces a share repurchase program for a total of EUR 350-450 million of shares until the end of 2027. This will include share repurchases to cover share-based remuneration obligations. Signify intends to cancel the remainder of the shares repurchased. This initiative underscores our commitment to create value for shareholders while maintaining financial flexibility to support growth opportunities. As part of this program, Signify intends to repurchase shares for an amount of up to EUR 150 million to be completed by the end of 2025, starting in Q1. This will include an allocation of approx. EUR 30 million to cover share-based remuneration obligations, with the remainder allocated for the cancellation of shares. Signify is committed to the planned three-year share repurchase program, subject to changes in corporate activities, such as M&A, or material changes in the business environment. The share repurchase program will be executed within the limitations of the existing authority granted by the AGM held on May 14, 2024 and of the authority to be granted by future AGMs.  Conference call and audio webcast Eric Rondolat (CEO) and Zeljko Kosanovic (CFO) will host a conference call for analysts and institutional investors at 9:00 a.m. CET to discuss the fourth quarter and full-year 2024 results. A live audio webcast of the conference call will be available via the Investor Relations WebsiteThe analyst presentation is available via this link 1 This press release contains certain non-IFRS financial measures and ratios, such as comparable sales growth, EBITA, adjusted EBITA and free cash flow, and related ratios, which are not recognized measures of financial performance or liquidity under IFRS. For a reconciliation of these non-IFRS financial measures to the most directly comparable IFRS financial measures, see appendix B, Reconciliation of non-IFRS financial measures, of this press release Attachment Signify Press Release - Q4 and full-year results 2024

ForexTV

27.01.2025

NEXTGEN DIGITAL PLATFORMS ENTERS INTO LOI TO ACQUIRE CRYPTO ASSETS - ForexTV

NextGen expands into the cryptocurrency market, acquiring approximately 10,000 Solana coins (SOL)– NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES – Fredericton, New Brunswick, Jan. 26, 2025 (GLOBE NEWSWIRE) -- NextGen Digital Platforms Inc. (CSE:NXT) (FSE:Z12) (“NextGen” or the “Company”), a publicly traded company listed on the Canadian Securities Exchange (the “CSE”), is pleased to announce its strategic entry into the rapidly expanding cryptocurrency sector. NextGen has entered into a letter of intent dated January 26, 2025 (the “Letter of Intent”) with a publicly-listed technology company (the “Vendor”) to acquire (the “Acquisition”) the claim of approximately 10,000 Solana coins (the “SOL”) or an equivalent cash amount (the “Crypto Proceeds”, and together with the SOL, the “Crypto Assets”). The Acquisition marks the start of NextGen’s strategy to build a strong digital asset portfolio, offering investors exposure to the growing cryptocurrency market. The Vendor is a publicly traded technology company listed on the TSX Venture Exchange (the “TSXV”). These assets are currently held by Genesis Global (the “Custodian”), a cryptocurrency lender and market maker that filed for Chapter 11 bankruptcy in January 2023 due to financial difficulties. After completing its restructuring in August 2024, Genesis began distributing approximately $4.0 billion in digital assets and cash to creditors, including the Crypto Assets, which are now being distributed. The Custodian is currently subject to certain bankruptcy proceedings, and as a result, the Crypto Assets are in the process of being distributed by the Custodian to the Vendor. In light of the restructuring of Genesis, there is no guarantee that any Crypto Assets will be advanced to the Vendor and NextGen or that any Consideration Shares will be issued. Under the terms of the Letter of Intent, NextGen plans to acquire the Crypto Assets from the Vendor for up to C$5.5 million, subject to receiving all necessary regulatory approvals, including from the CSE and TSXV. The acquisition will be fully paid with the issuance of NextGen common shares (the “Consideration Shares”). Following the release of each tranche of Crypto Assets to the Vendor by the Custodian (each a “Custodian Delivery Date”), the Vendor will, within three (3) business days of such Custodian Delivery Date, deliver to NextGen the applicable SOL, or if so elected by the Custodian, the Cash Proceeds, which shall be equal to the number of SOL subject to such tranche. However, if the volume-weighted average trading price (“VWAP”) of SOL on coinmarketcap.com over the ten (10) trading days immediately prior to the applicable Custodian Delivery Date is less than a reference SOL price, NextGen may elect not to proceed with the acquisition of the applicable Crypto Assets subject to such tranche, and no Consideration Shares will be issuable in exchange therefore. In exchange for such Crypto Assets, NextGen will issue to the Vendor 540 common shares at a discounted market price for each SOL coin or equivalent received. However, that in the event that the NextGen’s common shares trading on the CSE immediately prior to a Custodian Delivery Date is less than the $0.75, then the Vendor may elect to not proceed with the acquisition of the applicable Consideration Shares subject to such tranche and no Crypto Assets will be issuable in exchange. All Consideration Shares issued pursuant to the Acquisition will be subject to a statutory 4-month hold period from the date of issuance in accordance with applicable securities laws. Completion of the Acquisition remains subject to the satisfaction of various conditions including, without limitation, the receipt by the Company and the Vendor of all necessary corporate and regulatory approvals and other conditions customary for a transaction of this nature, and entering into a definitive agreement on or before March 15, 2025. The Acquisition is an arm’s length transaction and there will be no changes to the Company’s board or management in connection with the Acquisition. No finder’s fees are expected to be paid in connection with the Acquisition. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws. About NextGen Digital Platforms NextGen Digital Platforms Inc. (CSE: NXT) is a publicly traded company listed on the Canadian Securities Exchange, with a dual focus on digital assets and artificial intelligence infrastructure. The Company is committed to democratizing access to cryptocurrencies by providing investors with exposure to a diversified basket of digital assets through a regulated public vehicle, offering a seamless entry into the growing cryptocurrency market. In parallel, NextGen operates a hardware-as-a-service business supporting the artificial intelligence sector, known as cloud AI hosting (“Cloud AI Hosting”), delivering advanced infrastructure solutions for AI-driven applications. For More Information: Alexander Tjiang, Interim Chief Executive Officer ‎(416) 300-7398 ‎https://nextgendigital.ca/ ‎info@nextgendigital.ca Caution Regarding Forward-Looking Information This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements herein, other than statements of historical fact, constitute forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the Company's business plans and expected future growth, the entering into of a definitive agreement in respect of the Acquisition, the completion of the Acquisition on the terms described herein or at all, the expected closing of the Acquisition and the expected benefits of the Acquisition. Forward-looking information reflects the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies, including the speculative nature of cryptocurrencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, without limitation, the Company's ability to execute on its business and investment plans; the Company's ability to raise debt or equity through future financing activities; the Company's ability to increase its investments in cryptocurrency-based technologies; any adverse changes and developments regarding Solana, XRP, DOGE or the cryptocurrency ecosystem; the growth and development of decentralized finance and the digital asset sector; any new rules and regulations with respect to decentralized finance and digital assets; the inherent volatility in the prices of certain cryptocurrencies including Solana, XRP and DOGE; increasing competition in the crypto and blockchain industries; general economic, political and social uncertainties in Canada and the United States; currency exchange rates and interest rates; the limited resources of the Company; the Company's reliance on the expertise and judgment of senior management and the Company's ability to attract and retain key personnel; the speculative nature of cryptocurrencies in general; and the Company's ability to continue as a going concern. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements. Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

ForexTV

03.02.2025

Tyson Foods Reports First Quarter 2025 Results - ForexTV

Delivers Year-Over-Year Top and Bottom-Line Growth; Raises Fiscal Year 2025 GuidanceSPRINGDALE, Ark., Feb. 03, 2025 (GLOBE NEWSWIRE) -- 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, reported the following results: (in millions, except per share data)First Quarter 2025 2024Sales$13,623 $13,319    Operating Income$580 $231Adjusted1 Operating Income (non-GAAP)$659 $411    Net Income Per Share Attributable to Tyson$1.01 $0.30Adjusted1 Net Income Per Share Attributable to Tyson (non-GAAP)$1.14 $0.69 1 The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). As used in this table and throughout this earnings release, adjusted operating income and adjusted net income per share attributable to Tyson (Adjusted EPS) are non-GAAP financial measures. Refer to the end of this release for an explanation and reconciliation of these and other non-GAAP financial measures used in this release to comparable GAAP measures. First Quarter Highlights Sales of $13,623 million, up 2.3% from prior yearGAAP operating income of $580 million, up 151% from prior yearAdjusted operating income of $659 million, up 60% from prior yearGAAP EPS of $1.01, up 237% from prior yearAdjusted EPS of $1.14, up 65% from prior yearTotal Company GAAP operating margin of 4.3%Total Company adjusted operating margin (non-GAAP) of 4.8%Liquidity of $4.5 billion as of December 28, 2024Cash provided by operating activities of $1,031 million, down $269 million from prior yearFree cash flow (non-GAAP) of $760 million, down $186 million from prior year "Fiscal year 2025 is off to a strong start, as we delivered our third consecutive quarter of year-over-year growth in sales, operating income, and EPS," said Donnie King, President & CEO of Tyson Foods. "Our best quarterly performance in more than two years reflects improved execution across the business, including exceptional results in chicken. Consumers remain focused on adding protein to their diets, and our diversified multi-channel, multi-protein portfolio ensures we are well-positioned to meet this demand while reinforcing our leadership as a world-class food company." SEGMENT RESULTS (in millions) Sales(for the first quarter ended December 28, 2024, and December 30, 2023) First Quarter   VolumeAvg. Price 2025 2024 ChangeChangeBeef$5,335 $5,023 5.6%0.6%Pork 1,617  1,517 (0.4) %7.0%Chicken 4,065  4,033 1.5%(0.7) %Prepared Foods 2,473  2,543 (3.2) %0.4%International/Other 584  582 4.3%(4.0) %Intersegment Sales (451) (379)n/an/aTotal$       13,623  $       13,319   1.6 % 0.7 % Operating Income (Loss)(for the first quarter ended December 28, 2024, and December 30, 2023) First Quarter   Operating Margin 2025 2024 20252024Beef$(64)$(206)(1.2) %(4.1) %Pork 59  39 3.6%2.6%Chicken 351  177 8.6%4.4%Prepared Foods 209  243 8.5%9.6%International/Other 25  (22)n/an/aTotal$            580  $            231   4.3 % 1.7 %            ADJUSTED SEGMENT RESULTS (in millions) Adjusted Operating Income (Loss) (Non-GAAP)1(for the first quarter ended December 28, 2024, and December 30, 2023) First Quarter   Adjusted Operating Margin (Non-GAAP) 2025202420252024Beef$(32)$(117)(0.6) %(2.3) %Pork 59  68 3.6%4.5%Chicken 368  192 9.1%4.8%Prepared Foods 234  264 9.5%10.4%International/Other 30  4 n/an/aTotal$            659  $            411   4.8 % 3.1 %            OUTLOOK For fiscal 2025, the United States Department of Agriculture (USDA) indicates domestic protein production (beef, pork, chicken and turkey) will increase approximately 1% compared to fiscal 2024 levels. The following is a summary of the updated outlook for each of our segments, as well as an outlook for revenue, capital expenditures, net interest expense, liquidity, free cash flow and tax rate for fiscal 2025. Certain of the outlook numbers include adjusted operating income (loss) (a non-GAAP metric) for each segment. The Company is not able to reconcile its full-year fiscal 2025 projected adjusted results to its fiscal 2025 projected GAAP results because certain information necessary to calculate such measures on a GAAP basis is unavailable or dependent on the timing of future events outside of our control. Therefore, because of the uncertainty and variability of the nature of and the amount of any potential applicable future adjustments, which could be significant, the Company is unable to provide a reconciliation for these forward-looking non-GAAP measures without unreasonable effort. Adjusted operating income (loss) should not be considered a substitute for operating income (loss) or any other measures of financial performance reported in accordance with GAAP. Investors should rely primarily on the Company’s GAAP results and use non-GAAP financial measures only supplementally in making investment decisions. BeefUSDA projects domestic production will decrease approximately 1% in fiscal 2025 as compared to fiscal 2024. We anticipate adjusted operating loss between $(0.4) billion and $(0.2) billion in fiscal 2025. PorkUSDA projects domestic production will increase approximately 2% in fiscal 2025 as compared to fiscal 2024. We anticipate adjusted operating income of $0.1 billion to $0.2 billion in fiscal 2025. ChickenUSDA projects chicken production will increase approximately 2% in fiscal 2025 as compared to fiscal 2024. We anticipate adjusted operating income of $1.0 billion to $1.3 billion for fiscal 2025. Prepared FoodsWe anticipate adjusted operating income of $0.9 billion to $1.1 billion in fiscal 2025. International/OtherWe anticipate improved results from our foreign operations in fiscal 2025 on an adjusted basis. Total CompanyWe anticipate total company adjusted operating income of $1.9 billion to $2.3 billion for fiscal 2025. RevenueWe expect sales to be flat to up 1% in fiscal 2025 as compared to fiscal 2024. Capital ExpendituresWe expect capital expenditures between $1.0 billion and $1.2 billion for fiscal 2025. Capital expenditures include investments in profit improvement projects as well as projects for maintenance and repair. Net Interest ExpenseWe expect net interest expense to approximate $375 million for fiscal 2025. LiquidityWe expect total liquidity, which was $4.5 billion as of December 28, 2024, to remain above our minimum liquidity target of $1.0 billion. Free Cash FlowWe expect free cash flow to be between $1.0 billion and $1.6 billion for fiscal 2025. Tax RateWe currently expect our adjusted effective tax rate to approximate 25% for fiscal 2025.  TYSON FOODS, INC.CONSOLIDATED CONDENSED STATEMENTS OF INCOME(In millions, except per share data)(Unaudited)   Three Months Ended December 28, 2024 December 30, 2023Sales$13,623  $13,319 Cost of Sales 12,528   12,496 Gross Profit 1,095   823     Selling, General and Administrative 515   592 Operating Income 580   231 Other (Income) Expense:   Interest income (25)  (10)Interest expense 120   105 Other, net 7   (25)Total Other (Income) Expense 102   70 Income before Income Taxes 478   161 Income Tax Expense 112   47 Net Income 366   114 Less: Net Income Attributable to Noncontrolling Interests 7   7 Net Income Attributable to Tyson$359  $107     Net Income Per Share Attributable to Tyson:   Class A Basic$1.03  $0.31 Class B Basic$0.93  $0.28 Diluted$1.01  $0.30 Dividends Declared Per Share:   Class A$0.510  $0.500 Class B$0.459  $0.450     Sales Growth 2.3%  Margins: (Percent of Sales)   Gross Profit 8.0%  6.2%Operating Income 4.3%  1.7%Net Income Attributable to Tyson 2.6%  0.8%Effective Tax Rate 23.5%  29.4%         TYSON FOODS, INC.CONSOLIDATED CONDENSED BALANCE SHEETS(In millions)(Unaudited)     December 28, 2024 September 28, 2024Assets   Current Assets:   Cash and cash equivalents$2,292 $1,717Accounts receivable, net 2,323  2,406Inventories 5,114  5,195Other current assets 353  433Total Current Assets 10,082  9,751Net Property, Plant and Equipment 9,353  9,442Goodwill 9,805  9,819Intangible Assets, net 5,799  5,875Other Assets 2,271  2,213Total Assets$37,310 $37,100    Liabilities and Shareholders’ Equity   Current Liabilities:   Current debt$95 $74Accounts payable 2,497  2,402Other current liabilities 2,188  2,311Total Current Liabilities 4,780  4,787Long-Term Debt 9,711  9,713Deferred Income Taxes 2,283  2,285Other Liabilities 1,909  1,801    Total Tyson Shareholders’ Equity 18,503  18,390Noncontrolling Interests 124  124Total Shareholders’ Equity 18,627  18,514    Total Liabilities and Shareholders’ Equity$37,310 $37,100       TYSON FOODS, INC.CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS(In millions)(Unaudited)   Three Months Ended December 28, 2024 December 30, 2023Cash Flows From Operating Activities:   Net income$366  $114 Depreciation and amortization 348   373 Deferred income taxes (2)  (14)Other, net 78   129 Net changes in operating assets and liabilities 241   698 Cash Provided by Operating Activities 1,031   1,300     Cash Flows From Investing Activities:   Additions to property, plant and equipment (271)  (354)Purchases of marketable securities (15)  (7)Proceeds from sale of marketable securities 16   6 Acquisition of equity investments (2)  (26)Other, net 39   3 Cash Used for Investing Activities (233)  (378)    Cash Flows From Financing Activities:   Proceeds from issuance of debt 22   771 Payments on debt (42)  (32)Proceeds from issuance of commercial paper —   1,649 Repayments of commercial paper —   (2,240)Purchases of Tyson Class A common stock (15)  (13)Dividends (175)  (171)Stock options exercised 15   7 Other, net —   3 Cash Used for Financing Activities (195)  (26)Effect of Exchange Rate Changes on Cash (28)  15 Increase in Cash and Cash Equivalents and Restricted Cash 575   911 Cash and Cash Equivalents and Restricted Cash at Beginning of Year 1,717   573 Cash and Cash Equivalents and Restricted Cash at End of Period 2,292   1,484 Less: Restricted Cash at End of Period —   — Cash and Cash Equivalents at End of Period$2,292  $1,484      Non-GAAP Financial Measures Adjusted Operating Income (Loss), Adjusted Income before Income Taxes, Adjusted Income Tax Expense, Adjusted Net Income Attributable to Tyson and Adjusted EPS, EBITDA, Adjusted EBITDA, net debt to EBITDA, net debt to Adjusted EBITDA and Free Cash Flow are presented as supplemental financial measures in the evaluation of our business that are not required by, or presented in accordance with GAAP. The non-GAAP financial measures are tools intended to assist our management and investors in comparing our performance on a consistent basis for purposes of business decision-making by removing the impact of certain items that management believes do not directly reflect our core operations on an ongoing basis. These non-GAAP measures should not be a substitute for their comparable GAAP financial measures. Investors should rely primarily on our GAAP results and use non-GAAP financial measures only supplementally in making investment decisions. We believe the presentation of these non-GAAP financial measures helps management and investors to assess our operating performance from period to period, including our ability to generate earnings sufficient to service our debt, enhances understanding of our financial performance and highlights operational trends. These measures are widely used by investors and rating agencies in the valuation, comparison, rating and investment recommendations of companies. Our calculation of non-GAAP measures may not be comparable to similarly titled measures reported by other companies and other companies may not define these non-GAAP financial measures in the same way, which may limit their usefulness of comparative measures. Definitions EBITDA is defined as net income before interest, income taxes, depreciation and amortization. Net debt to EBITDA (Adjusted EBITDA) represents the ratio of our debt, net of cash, cash equivalents and short-term investments, to EBITDA (and to Adjusted EBITDA). EBITDA, Adjusted EBITDA, net debt to EBITDA and net debt to Adjusted EBITDA are presented as supplemental financial measurements in the evaluation of our business. Adjusted EBITDA, Adjusted Operating Income (Loss), Adjusted Income before Income Taxes, Adjusted Income Tax Expense, Adjusted Net Income Attributable to Tyson and Adjusted EPS are defined as EBITDA, Operating Income (Loss), Income before Income Taxes, Income Tax Expense, Net Income Attributable to Tyson and diluted earnings per share, respectively, excluding the impacts of any items that management believes do not directly reflect our core operations on an ongoing basis. Free Cash Flow is defined as Cash Provided by Operating Activities minus payments for Property, Plant and Equipment.   TYSON FOODS, INC.GAAP Results to Non-GAAP Results Reconciliations(In millions, except per share data)(Unaudited) Results for the first quarter ended December 28, 2024 SalesCost of SalesSelling, General and AdministrativeOperating IncomeOther (Income) ExpenseIncome before Income TaxesIncome Tax ExpenseNet Income Attributable to TysonEPS ImpactGAAP Results   $580  $478 $112 $359 $1.01 Production facility fire insurance proceeds, net of costs incurred3—— — — (7) (7) (2) (5) (0.01)Brand discontinuation—— 6 6 —  6  2  4  0.01 Network optimization plan charges—71 2 73 —  73  17  56  0.16 The Netherlands facility4—— — — —  —  9  (9) (0.03)Adjusted Non-GAAP Results   $659  $550 $138 $405 $1.14           Results for the first quarter ended December 30, 2023 SalesCost of SalesSelling, General and AdministrativeOperating IncomeOther (Income) ExpenseIncome before Income TaxesIncome Tax ExpenseNet Income Attributable to TysonEPS ImpactGAAP Results   $231  $161 $47 $107 $0.30 Production facility fire insurance proceeds, net of costs incurred3—(24)— (24)(3) (27) (6) (21) (0.06)The Netherlands facility4—26 — 26 —  26  —  26  0.07 Restructuring and related charges—3 27 30 —  30  8  22  0.06 Plant closures and disposals—75 — 75 —  75  19  56  0.16 Legal contingency accruals—73 — 73 —  73  18  55  0.16 Adjusted Non-GAAP Results   $411  $338 $86 $245 $0.69                       TYSON FOODS, INC.Adjusted Operating Income (Loss) Non-GAAP Reconciliations(In millions)(Unaudited) Adjusted Operating Income (Loss)(for the first quarter ended December 28, 2024) BeefPorkChickenPrepared FoodsInternational/OtherTotalReported operating income (loss)$(64)$59$351$209$25$580Add: Brand discontinuation —  — 6 — — 6Add: Network optimization plan charges 32  — 11 25 5 73Adjusted operating income (loss)$(32)$59$368$234$30$659 Adjusted Operating Income (Loss)(for the first quarter ended December 30, 2023) BeefPorkChickenPrepared FoodsInternational/OtherTotalReported operating income (loss)$(206)$39$177 $243$(22)$231 Less: Production facility fire insurance proceeds, net of costs incurred3 —  — (24) — —  (24)Add: The Netherlands facility4 —  — —  — 26  26 Add: Restructuring and related charges 4  1 4  21 —  30 Add: Plant closures and disposals 40  — 35  — —  75 Add: Legal contingency accruals 45  28 —  — —  73 Adjusted operating income (loss)$(117)$68$192 $264$4 $411  TYSON FOODS, INC.EBITDA and Adjusted EBITDA Non-GAAP Reconciliations(In millions)(Unaudited)       Three Months Ended Fiscal Year Ended Twelve Months Ended December 28, 2024 December 30, 2023 September 28, 2024 December 28, 2024        Net income$366  $114  $822  $1,074 Less: Interest income (25)  (10)  (89)  (104)Add: Interest expense 120   105   481   496 Add: Income tax expense 112   47   270   335 Add: Depreciation 281   312   1,159   1,128 Add: Amortization2 64   59   229   234 EBITDA$918  $627  $2,872  $3,163         Adjustments to EBITDA:       Less: Production facility fire insurance proceeds, net of costs incurred3$(7) $(27) $(104) $(84)Add: Brand discontinuation 6   —   8   14 Add: Network optimization plan charges 73   —   —   73 Add: Restructuring and related charges —   30   31   1 Add: Plant closures and disposals —   75   182   107 Add: Legal contingency accruals —   73   174   101 Add: The Netherlands facility4 —   26   86   60 Less: Depreciation and amortization included in EBITDA adjustments5 (29)  (60)  (129)  (98)Total Adjusted EBITDA$961  $744  $3,120  $3,337         Total gross debt    $9,787  $9,806 Less: Cash and cash equivalents     (1,717)  (2,292)Less: Short-term investments     (10)  (1)Total net debt    $8,060  $7,513         Ratio Calculations:       Gross debt/EBITDA    3.4x 3.1xNet debt/EBITDA    2.8x 2.4x        Gross debt/Adjusted EBITDA    3.1x 2.9xNet debt/Adjusted EBITDA    2.6x 2.3x 2 Excludes the amortization of debt issuance and debt discount expense of $3 million and $2 million for the three months ended December 28, 2024 and December 30, 2023, respectively, and $12 million and $13 million for the fiscal year ended September 28, 2024 and the twelve months ended December 28, 2024, respectively, as it is included in interest expense. 3 Relates to a fire at a Chicken production facility in the fourth quarter of fiscal 2021. 4 Relates to a fire at our production facility in the Netherlands in the first quarter of fiscal 2024 and subsequent decision to sell the facility. 5 Removal of accelerated depreciation of $23 million related to network optimization plan charges for the three and twelve months ended December 28, 2024, $60 million related to plant closures and disposals for the three months ended December 30, 2023, $127 million related to plant closures and disposals for the twelve months ended September 28, 2024, and $67 million related to plant closures and disposals for the twelve months ended December 28, 2024 as they are already included in depreciation expense. Removal of accelerated amortization of $6 million, $2 million and $8 million related to brand discontinuation for the three months ended December 28, 2024, the twelve months ended September 28, 2024 and the twelve months ended December 28, 2024, respectively, as they are already included in amortization expense.  TYSON FOODS, INC.Free Cash Flow Non-GAAP Reconciliation(In millions)(Unaudited)   Three Months Ended December 28, 2024 December 30, 2023Cash Provided by Operating Activities$1,031  $1,300 Additions to property, plant and equipment (271)  (354)Free cash flow$760  $946          About Tyson Foods, Inc.Tyson Foods, Inc. (NYSE: TSN) is a world-class food company and recognized leader in protein. Founded in 1935 by John W. Tyson, it has grown under four generations of family leadership. The Company is unified by this purpose: Tyson Foods. We Feed the World Like Family™ and has a broad portfolio of iconic products and brands including Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, State Fair®, Aidells® and ibp®. Tyson Foods is dedicated to bringing high-quality food to every table in the world, safely, sustainably, and affordably, now and for future generations. Headquartered in Springdale, Arkansas, the company had approximately 138,000 team members on September 28, 2024. Visit www.tysonfoods.com. Conference Call Information and Other Selected DataA conference call to discuss the Company's financial results will be held at 9 a.m. Eastern Monday, February 3, 2025. A link for the webcast of the conference call is available on the Tyson Investor Relations website at https://ir.tyson.com. The webcast also can be accessed by the following direct link: https://events.q4inc.com/attendee/124939454. For those who cannot participate at the scheduled time, a replay of the live webcast and the accompanying slides will be available at https://ir.tyson.com. A telephone replay will also be available until March 3, 2025, toll free at 1-877-344-7529, international toll 1-412-317-0088 or Canada toll free 855-669-9658. The replay access code is 7066265. Financial information, such as this news release, as well as other supplemental data, can be accessed from the Company's web site at https://ir.tyson.com. Forward-Looking StatementsCertain information in this release constitutes forward-looking statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, current views and estimates of our outlook for fiscal 2025, other future economic circumstances, industry conditions in domestic and international markets, our performance and financial results (e.g., debt levels, return on invested capital, value-added product growth, capital expenditures, tax rates, access to foreign markets and dividend policy). These forward-looking statements are subject to a number of factors and uncertainties that could cause our actual results and experiences to differ materially from anticipated results and expectations expressed in such forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which are expressly qualified in their entirety by this cautionary statement and speak only as of the date made. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the factors that may cause actual results and experiences to differ from anticipated results and expectations expressed in such forward-looking statements are the following: (i) global pandemics have had, and may in the future have, an adverse impact on our business and operations; (ii) the effectiveness of financial excellence programs; (iii) access to foreign markets together with foreign economic conditions, including currency fluctuations, import/export restrictions and foreign politics; (iv) cyber attacks, other cyber incidents, security breaches or other disruptions of our information technology systems; (v) risks associated with our failure to consummate favorable acquisition transactions or integrate certain acquisitions’ operations; (vi) the Tyson Limited Partnership’s ability to exercise significant control over the Company; (vii) fluctuations in the cost and availability of inputs and raw materials, such as live cattle, live swine, feed grains (including corn and soybean meal) and energy; (viii) market conditions for finished products, including competition from other global and domestic food processors, supply and pricing of competing products and alternative proteins and demand for alternative proteins; (ix) outbreak of a livestock disease (such as African swine fever (ASF), avian influenza (AI) or bovine spongiform encephalopathy (BSE)), which could have an adverse effect on livestock we own, the availability of livestock we purchase, consumer perception of certain protein products or our ability to conduct our operations; (x) changes in consumer preference and diets and our ability to identify and react to consumer trends; (xi) effectiveness of advertising and marketing programs; (xii) significant marketing plan changes by large customers or loss of one or more large customers; (xiii) our ability to leverage brand value propositions; (xiv) changes in availability and relative costs of labor and contract farmers and our ability to maintain good relationships with team members, labor unions, contract farmers and independent producers providing us livestock; (xv) issues related to food safety, including costs resulting from product recalls, regulatory compliance and any related claims or litigation; (xvi) compliance with and changes to regulations and laws (both domestic and foreign), including changes in accounting standards, tax laws, environmental laws, agricultural laws and occupational, health and safety laws; (xvii) the effect of climate change and any legal or regulatory response thereto; (xviii) adverse results from litigation; (xix) risks associated with leverage, including cost increases due to rising interest rates or changes in debt ratings or outlook; (xx) impairment in the carrying value of our goodwill or indefinite life intangible assets; (xxi) our participation in a multiemployer pension plan; (xxii) volatility in capital markets or interest rates; (xxiii) risks associated with our commodity purchasing activities; (xxiv) the effect of, or changes in, general economic conditions; (xxv) impacts on our operations caused by factors and forces beyond our control, such as natural disasters, fire, bioterrorism, pandemics, armed conflicts or extreme weather; (xxvi) failure to maximize or assert our intellectual property rights; (xxvii) effects related to changes in tax rates, valuation of deferred tax assets and liabilities, or tax laws and their interpretation; and (xxviii) the other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission, including those included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K and Quarterly reports on Form 10-Q. Media Contact:  Laura Burns, 479-713-9890Investor Contact:  Sean Cornett, 479-466-0401Source: Tyson Foods, Inc.Category: IR, Newsroom

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