Tyson Foods Inc (NYSE:TSN) reported fiscal second quarter results that exceeded Wall Street expectations, as stronger demand in its chicken business helped offset mixed performance across other segments.
For the quarter ended March 28, 2026, the US meat processor posted adjusted earnings per share of $0.87, ahead of analyst estimates of $0.78.
Revenue came in at $13.65 billion, slightly above expectations of $13.61 billion and up 4.4% from $13.07 billion a year earlier.
Tyson’s quarterly performance was supported by continued strength in its chicken segment, where demand has remained resilient. The company continues to navigate weaker conditions in beef, where it expects a segment operating loss for the full fiscal year, reflecting tighter cattle supplies.
"We delivered strong results in the second quarter, with our Chicken and Prepared Foods segments driving meaningful momentum,” Tyson Foods CEO Donnie King said.
“Our disciplined balance sheet management, execution and diversified, multi-protein portfolio position us to capitalize on significant growth opportunities ahead.”
Looking ahead, Tyson said it expects total company sales to increase between 2% and 4% in fiscal 2026. It forecast adjusted operating income of $2.2 billion to $2.4 billion for the year.
By segment, the company projects adjusted operating income of $1.9 billion to $2.05 billion for chicken, $1.25 billion to $1.35 billion for prepared foods, and $250 million to $300 million for pork.
Its international business is expected to contribute between $150 million and $200 million in adjusted operating income. In contrast, the beef segment is projected to post an adjusted operating loss in the range of $350 million to $500 million.
Tyson expects capital expenditures of $700 million to $1 billion in fiscal 2026 and free cash flow of $1.2 billion to $1.8 billion. Net interest expense is forecast at approximately $365 million, while the adjusted effective tax rate is expected to be around 25%.
The company said total liquidity stood at $3.7 billion as of late March and is expected to remain above its $1.0 billion minimum target.
Shares of Tyson Foods added 2% following the report.