Tyson earnings: guidance and next results
MyStockButler's October 2026 analysis: Tyson's next results are expected on November 16, 2026. Watch whether Tyson turns its reduced profit promise into cash while containing Beef losses and legal payments.
What has Tyson guided for fiscal 2026?
On September 3, 2026, Tyson cut its revenue-growth forecast to 1.5%–2.0% and its adjusted operating-income forecast to $1.85 billion–$2.05 billion. Adjusted operating income measures the plants and products before interest and taxes, after management removes selected charges. It is not cash: interest and taxes still reduce profit, and excluded charges may still require payment.
Chicken’s promised adjusted operating income is $1.85 billion–$1.95 billion, while Prepared Foods is expected to produce $1.30 billion–$1.35 billion. Those segment figures do not simply become company profit. For the first nine months of fiscal 2026, adjusted segment operating income totaled $2.341 billion. Corporate expenses were $563 million, with amortization deducted too, leaving total adjusted operating income of $1.616 billion.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue growth | Fiscal 2026 | 1.5% | 2.0% | September 3, 2026 |
| Total company adjusted operating income | Fiscal 2026 | 1,850 | 2,050 | September 3, 2026 |
| Beef, segment operating income (loss), as adjusted | Fiscal 2026 | -775 | -625 | September 3, 2026 |
| Chicken, segment operating income (loss), as adjusted | Fiscal 2026 | 1,850 | 1,950 | September 3, 2026 |
| Capital expenditures | Fiscal 2026 | 700 | 900 | August 3, 2026 |
| Free cash flow | Fiscal 2026 | 1,300 | 1,700 | August 3, 2026 |
What this means. The Beef row forecasts a loss of 625 to 775 million dollars, so its negative numbers mean money lost rather than income earned.
Did Tyson keep its past promises?
The forecast also uses a comparable 52-week year, although fiscal 2026 contains 53 weeks. That makes the guidance an operating target, not a promise of shareholder cash. Prepared Foods has been steadier against its opening forecasts; Chicken has beaten twice, landed within once and fallen below once. The next question is whether outside analysts see the same earnings support.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Chicken — adjusted operating margin / adjusted operating income | 4 years | 2 | 1 | 1 |
| Prepared Foods — adjusted operating margin / adjusted operating income | 4 years | 0 | 4 | 0 |
| Capital Expenditures | 4 years | 0 | 1 | 3 |
What do Tyson's last eight quarters show?
For the quarter ended June 27, 2026, revenue was essentially flat while reported operating income, net income and EPS improved. Gross margin fell, however, because different charges affect different levels of the income statement. A sharp EPS increase therefore does not mean the factories became proportionally more profitable.
The cleaner comparison was smaller. Adjusted operating income increased to $547 million from $505 million. Adjusted EPS rose to $0.99 from $0.91. Chicken and Pork improved on an adjusted basis, while Beef and Prepared Foods deteriorated. Beef’s reported loss narrowed because the prior-year quarter contained a goodwill impairment, but its adjusted loss widened.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13,868 | 13,653 | 14,313 | 13,860 | 13,884 | 13,074 | 13,623 | 13,565 |
| Gross margin | 6.6% | 7.0% | 5.6% | 5.2% | 8.2% | 4.6% | 8.0% | 7.8% |
| Operating income | 362 | 435 | 302 | 158 | 260 | 100 | 580 | 525 |
| Net income | 182 | 260 | 85 | 47 | 61 | 7 | 359 | 357 |
| EPS, diluted | 0.52 | 0.73 | 0.24 | 0.13 | 0.17 | 0.02 | 1.01 | 1.00 |
What this means. Free cash flow can be negative even when the company reports a profit because it also subtracts cash spent on equipment and buildings.