Tyson Foods Inc - Class A
Q3 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.99%.
Did TSN Beat Earnings? Q3 2026 Results
Tyson Foods delivered a mixed third quarter for fiscal 2026, nudging past earnings expectations while falling short on the top line. Adjusted EPS came in at $0.99, edging above the $0.99 consensus estimate by 0.33% and extending the company's streak of consensus EPS beats to four consecutive quarters. Revenue of $13.87 billion trailed the $14.07 billion estimate by 1.41% and was essentially flat year-over-year, declining just 0.1%, weighed down in part by a $98.00 million legal contingency accrual recorded as a reduction to Chicken segment sales. Beneath the headline, the story was one of sharp contrasts: Chicken posted its seventh straight quarter of growth with $488.00 million in adjusted segment operating income at an 11.2% margin, while Beef remained a persistent drag, logging a $138.00 million adjusted operating loss amid a difficult cattle cycle. GAAP operating income surged 39% to $362.00 million. Looking ahead, Tyson guided for full-year revenue growth of 2.5% to 3.5% and maintained free cash flow guidance of $1.30 billion to $1.70 billion, with Chicken expected to anchor adjusted operating income between $1.90 billion and $2.05 billion.
- Continued strength in Chicken segment with seven consecutive quarters of growth
- Prepared Foods segment delivered strong adjusted operating margins of 12.6%
- Pork segment volume grew 5.2% year-over-year
- International segment operating income grew with 11.4% sales increase
- Market share gains by iconic brands
- Operational excellence and disciplined execution of branded food products strategy
- Beef segment impacted by cattle cycle with 15.9% volume decline
“We delivered strong third quarter results, fueled by continued strength in our Chicken and Prepared Foods segments, with seven consecutive quarters of growth in Chicken and continued market share gains by our iconic brands. These results reflect the power of our differentiated multi-protein portfolio, strong customer partnerships and focus on operational excellence. We remain confident in our ability to deliver long-term growth and create value for shareholders through disciplined execution of our branded food products strategy.”
Tyson Foods CEO, on the earnings call
Forward Guidance & Outlook
For fiscal 2026, Tyson expects total company adjusted operating income of $2.1 billion to $2.3 billion. By segment: Beef anticipates an adjusted operating loss of $(650) million to $(500) million; Pork expects adjusted operating income of $250 million to $300 million; Chicken expects $1.90 billion to $2.05 billion; Prepared Foods expects $1.3 billion to $1.35 billion; International expects $150 million to $200 million. Corporate expenses and amortization, as adjusted, are expected at $950 million to $975 million. Revenue is expected to grow 2.5% to 3.5% year-over-year. Capital expenditures are projected at $0.7 billion to $0.9 billion. Net interest expense is expected to approximate $365 million. Free cash flow is expected between $1.3 billion and $1.7 billion. The adjusted effective tax rate is expected to approximate 25%. USDA projects domestic protein production will increase approximately 1% compared to fiscal 2025, with beef production declining approximately 3%, pork increasing approximately 2%, and chicken increasing approximately 3%.
TSN YoY Financials
TSN Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.