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Tyson Foods

TSN Q2 2026 Earnings

Reported May 4, 2026 at 7:31 AM ET · SEC Source

Q2 26 EPS

$0.87

BEAT +11.60%

Est. $0.78

Q2 26 Revenue

$13.65B

BEAT +0.32%

Est. $13.61B

vs S&P Since Q2 26

-14.7%

TRAILING MARKET

TSN -12.5% vs S&P +2.2%

Market Reaction

Did TSN Beat Earnings? Q2 2026 Results

Tyson Foods delivered a stronger-than-expected second fiscal quarter, posting adjusted EPS of $0.87 against a consensus estimate of $0.78, a beat of 11.60%, as its Chicken segment carried the load amid persistent weakness in Beef. Revenue rose 4.4% y… Read more Tyson Foods delivered a stronger-than-expected second fiscal quarter, posting adjusted EPS of $0.87 against a consensus estimate of $0.78, a beat of 11.60%, as its Chicken segment carried the load amid persistent weakness in Beef. Revenue rose 4.4% year-over-year to $13.65 billion, edging past the $13.61 billion estimate, though the company noted that stripping out prior-year legal contingency accruals of $343 million, underlying sales growth was a more modest 1.8%. The Chicken segment was the clear engine of the quarter, generating $523 million in adjusted operating income at a 12.2% margin, while Beef continued to drag with an adjusted operating loss of $202 million on $5.21 billion in sales, reflecting tight cattle supply conditions. Tyson also reduced total debt by $747 million in the first half and returned $445 million to shareholders year-to-date. A pending $48 million pork antitrust settlement has drawn investor attention to the company's litigation exposure. Looking ahead, Tyson narrowed its fiscal 2026 adjusted operating income guidance to $2.20 billion to $2.40 billion, with revenue expected to grow 2% to 4%.

Key Takeaways

  • • Chicken segment drove meaningful momentum with 12.2% adjusted operating margin and $523M adjusted operating income
  • • Prepared Foods delivered strong 14.0% adjusted operating margin with $352M adjusted operating income
  • • Sales growth of 4.4% year-over-year, or 1.8% excluding legal contingency accrual impacts
  • • Gross profit margin expanded to 7.0% from 4.6% in the prior year quarter
  • • Beef segment average prices increased 11.5% partially offsetting 13.1% volume decline
  • • Pork segment returned to reported profitability from a loss of $181M a year ago

TSN Forward Guidance & Outlook

For fiscal 2026, Tyson expects total company adjusted operating income of $2.2 billion to $2.4 billion. By segment: Chicken $1.9B–$2.05B; Prepared Foods $1.25B–$1.35B; Pork $250M–$300M; International $150M–$200M; Beef operating loss of ($500M)–($350M). Corporate expenses and amortization, as adjusted, expected at $950M–$975M. Revenue expected up 2%–4% vs. fiscal 2025. Capital expenditures of $0.7B–$1.0B. Net interest expense approximately $365M. Free cash flow of $1.2B–$1.8B. Adjusted effective tax rate approximately 25%. Liquidity expected to remain above $1.0B minimum target. USDA projects domestic protein production up approximately 1%, with beef down ~2%, pork up ~2%, and chicken up ~2%.

24/7 Wall St

TSN YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

TSN Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q2 26

“We delivered strong results in the second quarter, with our Chicken and Prepared Foods segments driving meaningful momentum. Our disciplined balance sheet management, execution and diversified, multi-protein portfolio position us to capitalize on significant growth opportunities ahead.”

— Donnie King, Q2 2026 Earnings Press Release

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