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In this episode, we have analyzed the quarterly earnings of Tyson Foods which is one of the largest food manufacturers in North America. It had sales of $47 billion in 2021 and over 1,37,000 employees in the company. They produce several brands of chicken, beef, pork, and other types of protein.
Three insights from Tyson’s quarterly earnings, Q2 2022
We have three interesting insights to share from the analysis of Tyson’s quarterly earnings for Q2 2022, which was released on the 8th of August.
1. eCommerce growth
The company is seeing fantastic growth in their eCommerce channel. People are buying their brands digitally which is a good indicator. This can open up the scope for an interface through which Tyson Foods can recommend the right kind of products for people based on their preferences, taste, seasonality and other parameters. This is a good opportunity for businesses which are selling solutions around product recommendations.
Along with that, Tyson is anticipating a billion dollars in productivity savings by 2024. They are continuing to digitize and automate more of their business.
2. Reducing supply chain costs
They are seeing growth in chicken and prepared foods, but the company is working to overcome many supply chain challenges. They have been looking to reduce costs to create a streamlined, effective, and cost-efficient supply chain that can enable them to continue to scale. The company divested a portion of their pet trade business to streamline profit and loss.
3. International expansion
Tyson Foods is expanding internationally. They have signed a deal with another business in Saudi Arabia. Along with the international expansion, they are making investments in capacity, innovation, and brands.
So there you have it, three insights from Tyson’s latest quarterly earnings. They are seeing greater uptake through the eCommerce channel, which is the result of digitization. They want to double down on it and realize potential productivity savings. Another big focus is on streamlining the supply chain process.
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