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Tyson Foods (TSN) investor relations material

Tyson Foods Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary10 Nov, 2025

Executive summary

  • Achieved year-over-year growth in sales, adjusted operating income, and adjusted EPS for Q4 and fiscal 2025, driven by a diversified protein portfolio and operational efficiencies, with strong contributions from chicken, pork, and prepared foods.

  • Notable international growth and innovation in product offerings supported performance, with branded products gaining market share.

  • GAAP results were negatively impacted by legal contingency accruals and a significant goodwill impairment charge.

Financial highlights

  • Q4 sales grew 4.8% to $13.86B year-over-year; full-year sales at $54.4B, up 2.1%–3.3% excluding legal contingency reserves.

  • Q4 adjusted operating income was $608M, up 19%; full-year adjusted operating income was $2.3B, up 26%.

  • Adjusted EPS for Q4 was $1.15, up 25%; full-year adjusted EPS was $4.12, up 33%.

  • Free cash flow for the year was $1.18B, with $3.7B in liquidity and net leverage at 2.1x, improved from prior year.

  • GAAP operating income fell 22% to $1.1B; GAAP EPS down 41% to $1.33 due to non-recurring charges.

Outlook and guidance

  • Fiscal 2026 sales expected to rise 2%–4% year-over-year; adjusted operating income guidance is $2.1B–$2.3B.

  • Segment AOI guidance: Chicken $1.25B–$1.5B, Prepared Foods $950M–$1.05B, Pork $150M–$250M, Beef adjusted operating loss ($400M–$600M).

  • CapEx for 2026 guided at $700M–$1B; free cash flow expected between $800M–$1.3B.

  • Annual dividend rate for 2026 increased by 2%.

How did legal accruals affect segment sales?
Beef segment losses despite lower supply?
How is capital allocated with lower FCF?
Beef: What specific actions to mitigate 2026 loss?
Prepared Foods: How to avoid Q4 commodity cost lag?
Lower 2026 CapEx: Strategic rationale?
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Frequently asked questions

Chicken, Beef, and Pork

Tyson Foods Inc. is an American multinational corporation in the food industry, particularly known for its production of chicken, beef, and pork. Tyson Foods has grown to become one of the world's largest meat processors and marketers, and its product line includes a wide array of fresh, frozen, and prepared food products which are sold to retail and food service customers globally. The company operates a comprehensive supply chain which includes farming, processing, and distribution. Tyson Foods is headquartered in Springdale, Arkansas, and its shares are traded on the NYSE.

Early Days and Growth

The company was founded in 1935 by John W. Tyson in Springdale, Arkansas. Originally a small poultry business, the company saw rapid growth during the Second World War, as the government did not ration chicken. During the 1950s, Tyson Foods capitalized on the increasing demand for chicken and evolved from a supplier to a major processor. This growth was fueled by strategic acquisitions and an increased focus on vertically integrated operations, which involved controlling every aspect of production, from feed mills to processing plants. Tyson Foods has also diversified outside of poultry production over the years and is today one of the largest producers and exporters of meat in the US.

From Farm to Table

Their business operations encompass a wide range of activities from the breeding and raising of livestock to processing, packaging, and distribution. Tyson's approach to business involves vertical integration, meaning they control multiple stages of their supply chain.

At the core of Tyson's operations are its numerous processing plants, where raw meat is converted into various products. These plants are designed to handle large-scale production while adhering to food safety and quality standards. Logistics is another crucial aspect of Tyson Foods' operations, and the company has a well-developed distribution network spread out across the US and other key markets. When looking at publicly traded companies that are relatively similar to Tyson Foods, one finds names such as Hormel Foods and JBS.

The Customer base

Tyson Foods caters to a diverse range of customers, including retail grocery chains, food service companies, and institutions like schools and hospitals. In addition to its domestic customer base, Tyson has a significant presence in the international market and is a significant exporter.

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