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Tyson Foods 8-K Report, Financial Results (May 4, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 4, 2026
Period End
May 4, 2026
Security
TSN
In the 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. Material agreement8-K · Feb ’19Feb ’19
  3. Leadership change8-K · Jun ’21Jun ’21
  4. Leadership change8-K · May ’25May ’25

01—Abstract

Summary

Summary of the 8-K filed May 4, 2026. Cited figures are marked; the original filing is the authoritative source.

Tyson Foods, Inc. (NYSE: TSN) reported results for its second quarter ended March 28, 2026, with sales of $13,653 milliona, up 4.4% from the prior year's $13,074 million, and GAAP operating income of $435 million, versus $100 million a year earlier.

GAAP diluted EPS was $0.73b, compared with $0.02 in the prior-year quarter. Adjusted operating income (non-GAAP) was $497 million, down 3% from $515 million, and adjusted EPS (non-GAAP) was $0.87, down 5% from $0.92. The prior-year quarter's sales included $343 million of legal contingency accruals recorded as a reduction to sales; excluding that, sales were stated as up 1.8%.

For the six months, sales were $27,966 millionc, up 4.8%, and GAAP operating income was $737 million, up 8%. Adjusted operating income was $1,069 million, down 9%, and adjusted EPS was $1.84, down 11%. Chicken and Prepared Foods drove the quarter: Chicken segment adjusted operating income rose to $523 million from $411 million, and Prepared Foods was $352 million, flat with the prior year's $329 million.

Beef remained a loss-maker, with an adjusted segment operating loss of $(202) million in the quarter, compared with $(113) million a year earlier. For fiscal 2026, Tyson updated its outlook: total company adjusted operating income of $2.2 billion to $2.4 billiond, sales growth of 2% to 4%, free cash flow of $1.2 billion to $1.8 billion, and a Beef segment adjusted operating loss of $(500) million to $(350) million. The company reported liquidity of $3.7 billion as of March 28, 2026, and returned $445 million to shareholders year to date through dividends and share repurchases.

02—Key points

Key Highlights

  1. Q2 sales of $13,653 million, up 4.4% from $13,074 million; the company states sales were up 1.8% excluding the $343 million legal contingency accrual recognized as a reduction to prior-year sales.
  2. Q2 GAAP operating income of $435 million, up $335 million from $100 million; GAAP diluted EPS of $0.73 versus $0.02.
  3. Q2 adjusted operating income of $497 million, down 3%; adjusted EPS of $0.87, down 5% from $0.92 (both non-GAAP).
  4. Chicken adjusted segment operating income rose to $523 million from $411 million, and Prepared Foods held at $352 million versus $329 million, offsetting a wider Beef adjusted loss of $(202) million versus $(113) million.
  5. Fiscal 2026 outlook: total company adjusted operating income of $2.2 billion to $2.4 billion, sales up 2% to 4%, and free cash flow of $1.2 billion to $1.8 billion.
  6. Six-month free cash flow (non-GAAP) of $432 million, up $50 million; total debt reduced by $747 million; liquidity of $3.7 billion as of March 28, 2026.
  7. Shareholder returns of $445 million year to date through dividends and share repurchases, per CEO Donnie King.

03—Questions

Frequently Asked Questions

  1. Why did GAAP operating income improve so sharply compared with the prior-year quarter?

    The prior-year quarter included $343 million of legal contingency accruals recorded as a reduction to sales, along with other charges. GAAP operating income was $435 million in Q2 2026 versus $100 million in Q2 2025. The company's adjusted operating income, which excludes items such as restructuring and legal accruals, actually declined 3% to $497 million.

  2. How is the Beef segment performing, and what is the outlook?

    Beef's adjusted segment operating loss widened to $(202) million in Q2 2026 from $(113) million a year earlier, and its six-month adjusted loss was $(345) million. Tyson anticipates a fiscal 2026 Beef segment adjusted operating loss of $(500) million to $(350) million, and USDA projects domestic beef production will decrease about 2% in fiscal 2026.

  3. What is Tyson's full-year fiscal 2026 guidance?

    Tyson expects total company adjusted operating income of $2.2 billion to $2.4 billion, sales up 2% to 4% versus fiscal 2025, capital expenditures of $0.7 billion to $1.0 billion, net interest expense of about $365 million, and free cash flow of $1.2 billion to $1.8 billion. It also expects an adjusted effective tax rate of about 25%. The outlook is based on a comparable 52-week year, as fiscal 2026 has 53 weeks.

  4. What are the main drivers of the Chicken and Prepared Foods segments?

    In Q2 2026, Chicken sales were $4,286 million, up 1.7% in volume and 1.8% in average price, and its reported operating margin was 11.8%. Prepared Foods sales were $2,511 million, up 0.4% in volume and 4.4% in average price, with a 13.9% reported operating margin. Tyson's guidance calls for fiscal 2026 Chicken adjusted operating income of $1.9 billion to $2.05 billion and Prepared Foods of $1.25 billion to $1.35 billion.

  5. How is Tyson's balance sheet and cash generation trending?

    Tyson reported liquidity of $3.7 billion as of March 28, 2026, and total debt was reduced by $747 million over the six months. Cash provided by operating activities was $829 million, down $17 million, and free cash flow was $432 million, up $50 million. Tyson expects liquidity to remain above its $1.0 billion minimum target.

04—Continue

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