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Tyson FoodsTSN

Legal name
Tyson Foods, Inc.
Sector
Other
Industry
Poultry Slaughtering and Processing
Exchange
NYSE

Stock Price $TSN

Latest filings

You are here#24 of 26 in Consumer Staples by market cap

Filing record · 2016–202610-K1110-Q338-K142

TSN filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 142 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jun ’17Jun ’17
  2. Leadership change8-K · May ’19May ’19
  3. Material agreement8-K · Oct ’21Oct ’21
  4. FY2025 annual report10-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $54.44B
YoY changeLargest recent move+13.2%in FY22Latest +2.1%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All TSN Financial Metrics53 metrics

Income Statement14

Balance Sheet23

Cash Flow14

Per Share2

02—Overview

Tyson Foods Financial Overview 2021–2025

Updated Nov 4, 2026

Tyson swung from a $648 million net loss in FY2023 to $800 milliona of profit in FY2024, yet earnings per share fell again to $1.33 in FY2025. The core thesis: Chicken and Prepared Foods are carrying the company while Beef bleeds, and that mismatch, not sales, now drives results.

Sales have barely moved. Revenue grew from $47.0 billion in FY2021 to $54.44 billionb in FY2025, but operating income dropped from $4.40 billion to $1.10 billion over the same span. Diluted EPS went from $8.34 to $1.33. In FY2025, Beef lost $1.135 billion at the operating line and Pork lost $199 million, while Chicken earned $1.427 billion. Charges compounded the damage: $738 million of legal contingency accruals and a $343 million Beef goodwill impairment.

The balance sheet is steadier than the income statement. Net debt to EBITDA peaked at 9.1x in FY2023 and eased to 3.0x in FY2025, with total debt of $8.83 billionc and liquidity of $3.73 billion. Operating cash flow was $2.16 billion against capital spending of $978 million. The market priced this recovery richly: at the close of FY2025, the shares traded at $54.19, or 40.7x earnings, a multiple inflated by depressed profits rather than by growth. For investors, the question is whether Beef losses narrow enough to let earnings catch up to that price.

Recent Developments (Q2 and Q3 2026)

Second-quarter operating income jumped to $435 milliond from $100 million, then Q3 2026 added $362 million against $260 million. Sales were flat at $13.87 billion in Q3, but Beef losses narrowed to $142 million from $459 million. Management cut fiscal 2026 adjusted operating income guidance to $1.85 billion–$2.05 billion from $2.1–$2.3 billion, and widened the Beef loss outlook to $625–$775 million. Tyson will close Joslin and Eagle Mountain, pursue a Pasco sale, and anchor Beef on three plants. Jeff Schomburger becomes CEO on October 4, 2026. Tyson also refinanced $1.0 billion of notes through a tender offer.

The bull case: Chicken guidance of $1.85–$1.95 billione and Beef restructuring point to easing cost pressure in fiscal 2027. The bear case: the cattle shortage persists, guidance fell, and $73 million of transition charges hit Q3. At 44.2x earnings as of the Q3 2026 report date (August 2, 2026), the stock looks richly valued, and that multiple does not reflect today's price.

What to watch: Beef losses after the three-plant restructuring; Schomburger's first guidance as CEO

03—Filings

Recent SEC Filings

  1. 8-KTyson Foods 8-K Report, Regulation FD Disclosure (Sep 3, 2026)Tyson Foods, Inc. (NYSE: TSN) updated its fiscal 2026 outlook on September 3, 2026, citing additional pressure in its Beef segment during the fourth quarter. The company now expects fiscal 2026 revenue growth of 1.5% to 2.0% and total company adjusted operating income of $1.85 billion to $2.05 billion. The revision is attributed mainly to significant margin compression amid volatile cattle prices and one of the most severe cattle shortages in U.S. history, along with the expected impact of lower cattle prices on the value of live cattle inventories. Segment guidance shows the divergence across the portfolio. Beef adjusted segment operating loss is now expected to be $(775) million to $(625) million, while Chicken is expected at $1.85 billion to $1.95 billion and Pork at $200 million to $250 million. Pork's outlook reflects increased hog availability, softer hog and wholesale prices, and processing spreads compressed as product values declined faster than livestock costs. Prepared Foods and International guidance was maintained. Management said the Beef network is being restructured around three strategically located facilities in the central United States, an action announced in August, and expects it to begin reducing operating cost pressures as the company enters fiscal 2027. The release also notes that Jeff Schomburger, incoming President and CEO, and CFO Curt Calaway will speak at the Barclays Global Consumer Conference on September 10, 2026. The company states it is unable to reconcile its non-GAAP outlook to GAAP results without unreasonable effort.
  2. 8-KTyson Foods 8-K Report, Material Agreement (Aug 24, 2026)On August 24, 2026, Tyson Foods, Inc. completed its previously announced public offering of two series of senior notes, each with a $500,000,000 aggregate principal amount. The offering consisted of 5.100% Senior Notes due August 24, 2031 (the 2031 Notes) and 5.600% Senior Notes due January 24, 2037 (the 2037 Notes). The notes were sold under the company's Form S-3 registration statement (No. 333-296632) and a prospectus supplement dated August 10, 2026, and were issued under a 1995 base indenture with The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented by new supplemental indentures dated August 24, 2026. The notes are general senior unsecured obligations that rank equally in right of payment with the company's other existing and future senior unsecured indebtedness, including other senior notes issued under the indenture. The 2031 Notes pay interest semiannually on February 24 and August 24, beginning February 24, 2027, while the 2037 Notes pay interest semiannually on January 24 and July 24, beginning January 24, 2027. The company may redeem each series in whole or in part under terms set out in the supplemental indentures. The indenture includes restrictive covenants that limit the company and certain subsidiaries from incurring secured debt, entering into sale and lease-back transactions, and consolidating, merging or transferring substantially all assets, subject to stated exceptions. Standard events of default apply, with acceleration available to the trustee or holders of at least 25% of a series' principal, and automatic acceleration upon certain bankruptcy or insolvency events.
  3. 8-KTyson Foods 8-K Report, Corporate Update (Aug 24, 2026)Tyson Foods, Inc. (NYSE: TSN) announced early results and pricing terms for its cash tender offers for three series of senior notes: the 3.550% Senior Notes due 2027, the 5.400% Senior Notes due 2029, and the 4.350% Senior Notes due 2029. Holders validly tendered $571.26 million of the 2027 notes, $389.974 million of the 5.400% 2029 notes, and $542.124 million of the 4.350% 2029 notes by the August 21, 2026 Early Tender Deadline. Because tenders were expected to exceed the $1.2 billion Maximum Tender Cap, the company will accept a portion of the 4.350% 2029 notes on a prorated basis, with a proration factor of 43.48%. The 2027 notes and 5.400% 2029 notes are accepted at a 100.00% proration factor. The company also eliminated the 5.400% 2029 Tender Sub-Cap and confirmed that the financing condition has been satisfied. Total Consideration per $1,000 principal amount is $994.87 for the 2027 notes, $1,019.77 for the 5.400% 2029 notes, and $994.24 for the 4.350% 2029 notes. Each figure includes a $30.00 Early Tender Premium and excludes accrued interest. Early settlement is expected on August 26, 2026, and the offers expire at 5:00 P.M. New York City time on September 8, 2026. Notes tendered after the Early Tender Deadline will not be accepted, because the Maximum Tender Cap has already been reached. The transaction is a liability management action in which the company retires outstanding senior notes with cash. The filing's Exhibits 99.1 and 99.2 are the early tender results and pricing terms press releases. The filing does not include the offer to purchase, which is dated August 10, 2026, and governs the full terms and conditions.
  4. 8-KTyson Foods 8-K Report, Regulation FD Disclosure (Aug 13, 2026)On August 13, 2026, Tyson Foods, Inc. (NYSE: TSN) announced a restructuring of its beef network to strengthen long-term performance. The company will anchor its beef business around three central U.S. facilities in Dakota City, Nebraska; Holcomb, Kansas; and Amarillo, Texas. It will end operations at its beef facility in Joslin, Illinois, and its beef and pork case-ready facility in Eagle Mountain, Utah, moving that capacity to more strategically located facilities with ample room to grow. The company is also pursuing the sale of its beef facility in Pasco, Washington, and plans to ramp back up a second shift at its Amarillo, Texas facility as cattle become available. Management attributes the changes to one of the most historic cattle shortages in the country, citing recent USDA cattle inventory data that showed continued limited heifer retention and indicated supply constraints are likely to persist. Management states that these changes will allow the company to maintain a similar level of cattle harvesting across a more efficient and modern network. The filing is a Regulation FD disclosure furnishing the press release as Exhibit 99.1. The filing does not quantify the financial impact of the restructuring, such as costs, charges, or job reductions, and the press release states that the company is supporting affected team members, including help applying for open positions at other facilities.
  5. 8-KTyson Foods 8-K Report, Material Agreement (Aug 11, 2026)Tyson Foods, Inc. (NYSE: TSN) entered into an underwriting agreement on August 10, 2026 with BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Rabo Securities USA, Inc., as representatives of the underwriters, to sell $500,000,000 aggregate principal amount of its 5.100% Senior Notes due 2031 and $500,000,000 aggregate principal amount of its 5.600% Senior Notes due 2037. The notes are being sold under an effective Form S-3 shelf registration (No. 333-296632) through a prospectus supplement dated August 10, 2026, and the closing is expected on August 24, 2026, subject to customary closing conditions. The company states it intends to use the net proceeds to purchase notes tendered in a contemplated tender offer, with any remainder used for general corporate purposes. The notes will be issued under a 1995 indenture with The Bank of New York Mellon Trust Company, N.A. as trustee, supplemented by a supplemental indenture to be dated August 24, 2026 and filed on a subsequent Form 8-K. For investors, the filing is primarily a debt financing and refinancing-related event: it adds $1.00 billion of new senior notes in aggregate and signals a pending tender offer for existing notes. The filing does not state the tender offer's terms, size, or the interest cost savings, so those details are not available from this report.
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04—See also

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