TSN · Tyson Foods, Inc.

Tyson Foods reported strong second quarter fiscal 2026 results, with sales of $13.65 billion, up 4.4% year-over-year, driven by volume and price growth in Chicken and Prepared Foods. GAAP operating income surged to $435 million from $100 million in the prior year, reflecting improved margins in Chicken and Prepared Foods, partially offset by losses in Beef. Adjusted operating income was $497 million, down 3% from $515 million, as higher segment results were offset by increased corporate expenses. GAAP diluted EPS was $0.73, compared to $0.02 in the prior year, while adjusted EPS was $0.87, down from $0.92. The Chicken segment reported operating income of $505 million, up 38%, with margin expanding to 11.8% from 8.9%, driven by operational improvements and market share gains. Prepared Foods operating income rose to $348 million, with margin of 13.9%. Beef remained challenged, with an operating loss of $240 million, as cattle costs outpaced pricing. Pork swung to a profit of $41 million from a loss of $181 million. International segment operating income declined to $38 million. Management highlighted disciplined balance sheet management and a diversified multi-protein portfolio. The company returned $445 million to shareholders year-to-date through dividends and share repurchases. For fiscal 2026, Tyson guided adjusted operating income of $2.2 billion to $2.4 billion, sales growth of 2% to 4%, and free cash flow of $1.2 billion to $1.8 billion. The outlook reflects continued momentum in Chicken and Prepared Foods, while Beef is expected to remain under pressure with an adjusted operating loss of $500 million to $350 million.