Tyson Foods Posts Higher Year-to-Date Revenue and Net Income, Softer Quarter Top Line in Interim Filing

Bottom line

Tyson Foods, Inc. (TSN / CIK 0000100493) filed the form identified as 10-Q for the fiscal period period-ended-2026-06-27, captured under accession 0000100493-26-000058, covering a three-month reporting period dated as of the three months ended June 27, 2026 and a year-to-date window of the nine months ended June 27, 2026, each compared with the prior-year comparatives the three months ended June 28, 2025 and the nine months ended June 28, 2025.

For the nine-month year-to-date window, the company reported Earnings Per Share, Diluted of $1.49 per diluted share USD/SHARES versus a prior-year comparative of $1.20 per diluted share USD/SHARES, with the reported comparison showing a year-over-year increase on a profit-to-profit basis. Net Income (Loss) Attributable to Parent for the same nine-month stretch was $527,000,000 USD against a prior-year result of $427,000,000 USD, again showing a year-over-year increase on a profit-to-profit basis. Operating Income (Loss) for the year-to-date period was $1,099,000,000 USD, higher than the prior-year comparative of $940,000,000 USD, with the same profit-to-profit transition. Revenue from Contract with Customer, Excluding Assessed Tax was $41,834,000,000 USD for the year-to-date period, compared with a prior-year figure of $40,581,000,000 USD, and the second revenue presentation, Revenues, was $41,834,000,000 USD against a prior-year comparative of $40,581,000,000 USD — both readings showing a year-over-year increase. The filing evidence does not attribute this change to any single cause.

For the three-month reporting period, Earnings Per Share, Diluted was $0.52 per diluted share USD/SHARES, up from $0.17 per diluted share USD/SHARES on a profit-to-profit basis. Net Income (Loss) Attributable to Parent for the quarter was $182,000,000 USD, compared with $61,000,000 USD in the prior-year period, and Operating Income (Loss) was $362,000,000 USD against $260,000,000 USD for the prior-year quarter — both profit-to-profit increases. Revenue from Contract with Customer, Excluding Assessed Tax for the quarter was $13,868,000,000 USD versus $13,884,000,000 USD, while the second presentation, Revenues, was $13,868,000,000 USD against $13,884,000,000 USD; both quarterly top-line readings show a year-over-year decrease despite positive absolute values. The filing evidence does not attribute this change to any single cause.

The source narrative confirms Tyson Foods, Inc. as the registrant and ties the unaudited consolidated condensed financial statements to a three-month and nine-month presentation as of June of the reporting year, with comparatives drawn from the prior-year periods. Common stock matters discussed in the cited note on Shareholders' Equity are described under Note 14. The filing evidence contains no peer or industry comparison. The filing evidence does not disclose segment-level detail for this dimension.

Financial performance

- For the three-month reporting period, TYSON FOODS, INC. reported Revenue from Contract with Customer, Excluding Assessed Tax of $13,868,000,000 USD and Revenues of $13,868,000,000 USD, against the prior-year comparative of $13,884,000,000 USD and $13,884,000,000 USD respectively. The filing evidence does not attribute this change to any single cause.

- For the nine-month year-to-date period, Revenue from Contract with Customer, Excluding Assessed Tax was $41,834,000,000 USD and Revenues was $41,834,000,000 USD, versus the prior-year comparative of $40,581,000,000 USD and $40,581,000,000 USD. The filing evidence does not attribute this change to any single cause. - Operating Income (Loss) was $362,000,000 USD for the three-month reporting period and $1,099,000,000 USD for the nine-month year-to-date period, compared with $260,000,000 USD and $940,000,000 USD respectively.

The filing evidence does not attribute this change to any single cause. - Net Income (Loss) Attributable to Parent reached $182,000,000 USD for the three-month reporting period and $527,000,000 USD for the nine-month year-to-date period, against $61,000,000 USD and $427,000,000 USD in the prior-year comparative periods. The filing evidence does not attribute this change to any single cause.

20 per diluted share USD/SHARES in the prior-year comparative periods. The filing evidence does not attribute this change to any single cause. - Management describes goodwill and indefinite-life intangible asset evaluations as beginning with a qualitative assessment, with a quantitative test performed only when qualitative factors suggest fair value may be more likely than not below carrying value, or when significant macro-economic changes have occurred.

Qualitative assessments for the first three quarters of fiscal (omitted) did not indicate that the fair value of any reporting unit or indefinite-life intangible asset was more likely than not below carrying amount, so no quantitative test was deemed necessary. - All other remaining reporting units and indefinite-life intangible assets had estimated fair values exceeding their carrying values by more than (omitted) as of their most recent assessments, while some units identified with heightened impairment risk had excess fair value over carrying amount of (omitted) or less.

- The Company maintains supplier financing programs with financial institutions; payment terms with participating suppliers are generally up to (omitted) days, the Company has no economic interest in the supplier's participation, and outstanding obligations due to financial institutions are included in accounts payable, with activity reflected within the operating activities section of the Consolidated Condensed Statements of Cash Flows. - The filing evidence contains no peer or industry comparison. - The filing evidence does not disclose segment-level detail for this dimension.

- Management notes that recently issued FASB guidance covering internal-use software costs, reference rate reform hedge accounting, and additional expense disclosures is being evaluated for impact on disclosures in the consolidated financial statements. - The accounting context above relates primarily to goodwill, supplier financing, use of estimates and recently issued pronouncements, without explicit forward guidance on revenue, margin or earnings expectations for upcoming reporting periods disclosed in the cited material.

Operating drivers and segments

The filing evidence for this 10-Q from TYSON FOODS, INC. (TSN, 0000100493, accession 0000100493-26-000058, fiscal period period-ended-2026-06-27) does not contain a segment-by-segment income statement. The income statement captured at the consolidated level is reported under two revenue captions, "Revenue from Contract with Customer, Excluding Assessed Tax" and "Revenues", with each presented across the three-month and nine-month windows on both a current and prior-year comparative basis: current period values are $13,868,000,000 and $41,834,000,000 (and the parallel $13,868,000,000 and $41,834,000,000) against prior comparatives $13,884,000,000 and $40,581,000,000 (and the parallel $13,884,000,000 and $40,581,000,000) for the three months ended June 27, 2026 vs the three months ended June 28, 2025 and the nine months ended June 27, 2026 vs the nine months ended June 28, 2025.

Operating Income (Loss) is also reported at the consolidated level only: $362,000,000 for the three months ended June 27, 2026 against $260,000,000 for the three months ended June 28, 2025, and $1,099,000,000 for the nine months ended June 27, 2026 against $940,000,000 for the nine months ended June 28, 2025. Beef, Chicken, Prepared Foods, and International operating income, sales, and segment-level margins are not part of the fact catalog for this section, so segment-level revenue mix, average selling prices, livestock input costs, prepared-foods volume trends, and International currency or pricing effects cannot be quantified from the cited evidence.

The filing references "all segments and corporate functions" in describing cost actions and names Beef and Prepared Foods in the facility-related discussion, and also names Chicken, Prepared Foods, and International in the context of asset write-offs, but it does not pair those names with segment-level operating numbers. Because the catalog holds only the consolidated totals, segment mix and per-segment margin movement are not supported by the facts. Management frames the period's operating results around two specific network-rationalization programs.

The first is described as a Beef-segment harvesting-facility closure together with a second Beef facility transitioning to a single shift, plus a Prepared Foods production-facility closure, accompanied by efforts to reduce support costs across all segments and corporate functions. The charges associated with this program are described as primarily accelerated depreciation and asset write-offs tied to the Beef and Prepared Foods network changes, together with severance and related costs and contract and lease termination costs.

The second program is described as the closure of two Prepared Foods facilities, the closure of a non-harvesting Beef facility, and asset write-offs in the Chicken, Prepared Foods, and International segments. These are presented in the cited note as the cost-side explanation accompanying the period's results and as the items behind the impairment indicators that the qualitative goodwill and indefinite-life intangible asset assessment considered during the first three quarters of the fiscal year. No forward guidance, target margin, or quantified savings figure is offered in the cited narrative; the explanation is structural rather than numerical.

Management's qualitative goodwill conclusion for the first three quarters is that no quantitative test was required, while noting that reporting units and indefinite-life intangibles that fall within a low excess-fair-value cushion are treated as a heightened-impairment-risk subset. The consolidated picture for the cited windows is straightforward: at the consolidated revenue level, both reported captions move in opposite directions across the two windows in this section — higher on the nine-month year-to-date comparison and lower on the three-month comparison — while Operating Income (Loss) is higher than the prior year on both windows, with the prior period also remaining a profit (a profit-to-profit transition).

The operating-income result is described in the cited narrative in terms of network changes and cost actions, and the cited evidence carries the directional facts but no quantified attribution. The filing evidence does not attribute this change to any single cause. Independent verification of the operating-income direction against peer or industry trends is not available inside the filing: The filing evidence contains no peer or industry comparison..

A reader looking for a parallel interim filing where revenue, operating income, and earnings per share all moved higher year-over-year can cross-check against Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing as a reference comparison point.

Cash flow and capital

- Tyson Foods' interim liquidity frame for the the balance sheet date of June 27, 2026 balance sheet is captured in two narrow working-capital lines. Cash and Cash Equivalents, at Carrying Value stood at $740,000,000 USD, while Accounts Payable, Current stood at $2,761,000,000 USD, framing a near-term settlement picture between on-hand liquidity and short-dated supplier obligations. - Reported facts — Operating cash generation for the nine months ended June 27, 2026 came in at $1,469,000,000 USD, compared with $1,620,000,000 USD for the nine months ended June 28, 2025; the direction is a decrease year over year, with both periods staying on the positive side of the ledger.

, the investing outflow narrowed). , the financing outflow widened). - Reported facts — Capital spending, measured as Payments to Acquire Property, Plant, and Equipment, was $556,000,000 USD in the nine months ended June 27, 2026 and $691,000,000 USD in the nine months ended June 28, 2025; both readings are positive, with a decrease as the year-over-year direction.

- Reported facts — Payments of Ordinary Dividends, Common Stock totalled $529,000,000 USD in the nine months ended June 27, 2026 and $524,000,000 USD in the nine months ended June 28, 2025; both readings are positive, and the period-over-period direction is an increase. - Management explanations — The filing notes that during the first nine months of fiscal (omitted) the Company increased estimated pretax charges by (omitted) million for additional actions approved under the network optimization plan, covering Beef-segment network changes (closure of a harvesting facility and a single-shift transition of another facility), a closure in the Prepared Foods segment, and support-cost reductions across segments and corporate functions.

The first nine-month charges included both cash-outflow items and non-cash items (accelerated depreciation, asset write-offs, severance, and contract and lease termination costs). Management also references an Executive Leadership Transition announced in the third quarter, and describes a revolving credit facility maturing in April (omitted) (with two one-year extension options) plus a separate facility maturing in December (omitted) where outstanding borrowings may, prior to maturity, be converted into one or more term loans maturing up to seven years after the facility's maturity date.

- Analyst inference — Read together with the authorized direction language, operating cash conversion softened while investing outflows narrowed (consistent with a lower capex pull-through) and financing outflows widened (consistent with greater net debt repayment and/or dividend growth), with the dividend line itself rising year over year. Free cash flow coverage of the dividend cannot be quantified from the catalog here because no reported direction is provided for that derived spread. - Counter-evidence — The filing's authorized direction set frames operating cash flow as a decrease and dividend payments as an increase, so the simple visual of "lower operating cash funding a higher dividend" stands against the partially offsetting narrower investing outflow; the cited note on the network optimization plan flags ongoing cash and non-cash charges that recur over a multi-year horizon, which complicates any read-through to steady-state cash generation.

- Unknowns — Detailed line items behind the financing outflow, the composition of the investing period beyond capex, the maturity ladder of accounts payable, and any peer comparison are not provided. The filing evidence does not attribute this change to any single cause. - The filing evidence contains no peer or industry comparison.

Peer and historical context

Tyson Foods' year-over-year trajectory across the two reporting windows tells a mixed story when read alongside the limited prior-year disclosures filed under the same 10-Q covering the three months ended June 27, 2026 and the nine months ended June 27, 2026 with the three months ended June 28, 2025 and the nine months ended June 28, 2025 as the comparatives. On the nine-month window, Revenue from Contract with Customer, Excluding Assessed Tax moved higher than the prior year, reported as $41,834,000,000 versus $40,581,000,000, and the parallel Revenues line, recorded as $41,834,000,000 versus $40,581,000,000, framed the same direction. Operating Income (Loss) for the nine-month window, captured as $1,099,000,000 against $940,000,000, also came in higher than the prior year, with Net Income (Loss) Attributable to Parent, recorded as $527,000,000 against $427,000,000, continuing the profit-to-profit pattern. The filing evidence does not attribute this change to any single cause.

The three-month picture diverges from the year-to-date direction. Revenue from Contract with Customer, Excluding Assessed Tax for the quarter, recorded as $13,868,000,000 against $13,884,000,000, and Revenues on the quarter, captured as $13,868,000,000 against $13,884,000,000, both came in lower than the prior-year quarter. Despite the top-line softness, Operating Income (Loss) for the quarter, captured as $362,000,000 against $260,000,000, and Net Income (Loss) Attributable to Parent, recorded as $182,000,000 against $61,000,000, both registered higher than the prior-year quarter, again on a profit-to-profit basis. Earnings Per Share, Diluted followed the same profit-to-profit pattern on both windows per the authorized comparisons. The filing evidence does not attribute this change to any single cause.

The cash-flow line items shift the comparison in a less favorable direction. Net Cash Provided by (Used in) Operating Activities for the nine-month window, captured as $1,469,000,000 against $1,620,000,000, came in lower than the prior-year nine-month figure while remaining positive. The related investing and financing flows registered as net outflows on both sides of the comparison, with each lower than its prior-year comparative.

Within the filing, management attributes recent charges to a multi-year network optimization plan, citing Beef and Prepared Foods segment actions including facility closures, a shift transition, severance, and contract terminations, with a portion noted as cash outflows and a portion as non-cash. Management also describes a leadership transition during the third quarter and notes ongoing debt management, including senior note repurchases on the open market and the entry into a revolving term loan credit facility. None of these activities are tied directly by the filing to the year-over-year movements above. The filing evidence does not attribute this change to any single cause.

The filing evidence contains no peer or industry comparison.

For broader context on how interim filings have framed profit-to-profit growth on both windows, readers can compare with the ANI Pharmaceuticals interim profit-to-profit analysis or the UFP Technologies interim profit-to-profit analysis.

Scenario analysis

- Reported facts: TYSON FOODS, INC. (TSN) filed its 10-Q for period-ended-2026-06-27 under accession 0000100493-26-000058 and CIK 0000100493. For the three months ended June 27, 2026, Revenue from Contract with Customer, Excluding Assessed Tax is $13,868,000,000 USD and Revenues is $13,868,000,000 USD, with Net Income (Loss) Attributable to Parent of $182,000,000 USD. For the nine months ended June 27, 2026, the contract-with-customer line is $41,834,000,000 USD, the Revenues line is $41,834,000,000 USD, and Net Income (Loss) Attributable to Parent is $527,000,000 USD. - Prior-year comparatives: the three months ended June 28, 2025 shows $13,884,000,000 USD of contract revenue, $13,884,000,000 USD of Revenues, and $61,000,000 USD of net income. the nine months ended June 28, 2025 shows $40,581,000,000 USD of contract revenue, $40,581,000,000 USD of Revenues, and $427,000,000 USD of net income. - Management explanations: a multi-year network optimization plan is underway, including Beef harvesting and shift changes, a Prepared Foods production closure, and corporate support-cost reductions, with executive leadership changes recognized in Selling, General and Administrative. - Analyst inference: on the authorized comparators, both revenue lines and Net Income are higher than the prior year on the nine-month window, while Net Income and EPS Diluted are higher on the quarter window in profit-to-profit territory; both revenue lines are lower than the prior year on the quarter window. - Counter-evidence/unknowns: The filing evidence contains no peer or industry comparison. - Base reading: ongoing optimization costs continue to pass through the income statement while the year-to-date revenue and net income growth frame the central case.

- Reported facts: the higher-than-prior year-to-date revenue and net income figures cited above, plus the lower quarter revenue and quarter-over-quarter net income movement. - Management explanations: management characterizes the plan as multi-year with additional charges anticipated as further actions are approved, while continuing to extend financing facilities and repurchase senior notes during the third quarter and first nine months. - Analyst inference: if Beef and Prepared Foods footprint actions begin to lift margins, the higher-than-prior year-to-date revenue and net income readings could be reinforced, with EPS Diluted extending its authorized higher movement on both windows. The filing evidence does not attribute this change to any single cause. - Counter-evidence/unknowns: the quarter revenue softness versus the three months ended June 28, 2025 would need to reverse, and The filing evidence contains no peer or industry comparison.. - Upside reading: margin lift from the network plan alongside continued debt management could compound the year-to-date trajectory, a frame peers such as ONEOK Posts Higher Revenue, Operating Income, Net Income and Diluted EPS Year-Over-Year in Interim Filing also illustrate.

- Reported facts: lower quarter revenue, multi-year optimization charges spanning severance, accelerated depreciation, asset write-offs, and contract and lease termination costs. - Management explanations: management anticipates additional charges as further actions are approved and flags potential limits on commercial paper access or higher costs. - Analyst inference: if optimization charges prove larger or more persistent than currently embedded, the higher year-to-date net income versus the nine months ended June 28, 2025 could compress, even though both windows remain profit-to-profit under authorized transitions. The filing evidence does not attribute this change to any single cause. - Counter-evidence/unknowns: The filing evidence contains no peer or industry comparison. - Downside reading: extended cash and non-cash charges layered on top of softer quarter revenue could pressure the net income figures relative to their prior-year comparators.

Risks and what to watch

- Reported facts — what the filing actually puts on the page for TYSON FOODS, INC. under 10-Q for period-ended-2026-06-27 (accession 0000100493-26-000058; CIK 0000100493; ticker TSN): - For the three-month reporting period, Net Income (Loss) Attributable to Parent was $182,000,000 USD, compared with $61,000,000 USD for the prior-year comparative. That comparison is filed as profit on both sides, moving in the higher direction. - For the nine-month year-to-date period, the same line was $527,000,000 USD against $427,000,000 USD, again profit on both sides and moving higher year over year. - Revenue from Contract with Customer, Excluding Assessed Tax was $13,868,000,000 USD for the quarter versus $13,884,000,000 USD a year earlier, filed as a lower direction (still positive on both sides). The nine-month line was $41,834,000,000 USD against $40,581,000,000 USD, filed as a higher direction. - A second revenue caption, Revenues, was $13,868,000,000 USD for the quarter versus $13,884,000,000 USD a year earlier (lower direction) and $41,834,000,000 USD for the nine-month period versus $40,581,000,000 USD (higher direction). The two revenue captions sit side by side in the filing and are presented at face value, not reconciled in the quoted evidence.

- Management explanations — what the issuer itself puts on the record inside this document: - The filing narrative describes a new revolving term loan credit facility that matures in December and carries term- or daily simple secured overnight financing rate-based interest with an applicable spread, plus a base-rate alternative. - Management states that a previously outstanding term loan was repaid using cash on hand and that facility was terminated. The net proceeds, together with cash on hand, were used to retire the March senior notes. - Management discloses open-market repurchases of senior notes during the third quarter and first nine months of the fiscal year, calling out two dollar amounts that the filing redacts. - The same passage flags that the company's access to commercial paper in the future may be limited or its cost may rise, and it lays out covenant baskets in the revolving credit facility, revolving term loan facility, and senior notes that restrict liens, additional debt, mergers, investments, asset dispositions, hedging, and related-party transactions.

- Analyst inference — read from the authorized year-over-year relations only, with no causal claims: - The two revenue captions move in opposite directions between the quarter and the year-to-date window (lower for the quarter, higher for the nine months), while net income moves higher on both windows. The combination of higher net income on a quarter that is filed as lower on one revenue caption and higher on the other is the kind of pattern a reader would normally reconcile against cost lines and other income items; the filing evidence does not provide that reconciliation here, so any explanation of why the two captions diverge is not stated in this filing. - Capital-return activity (note repurchases) and liability management (the new revolving term loan, retirement of the March notes, termination of the May term loan) are described as simultaneous, and the filing ties them to the same cash on hand. Readers tracking leverage will need to wait for the next balance sheet to see the net effect. - The covenant list restricts liens, debt incurrence, mergers, investments, dispositions, business changes, affiliate transactions, and hedging, which constrains the menu of capital actions the company can take without further amendment.

- Counter-evidence and softening data: - The quarter revenue comparison is filed as lower, even though the nine-month revenue comparison is filed as higher, and the second revenue caption sits alongside the first without an in-document bridge. That is the principal piece of counter-evidence against a clean "top line accelerating" read. - The commercial-paper caveat is on the record as a forward-looking softening note, not a quantified impact.

- Unknowns and limits of this evidence: - Drivers of the quarter-versus-nine-month revenue gap, and of the gap between the two revenue captions, are not attributed in the quoted text. The filing evidence does not attribute this change to any single cause. - Segment-level detail is not disclosed in the quoted material for the lines used here. The filing evidence does not disclose segment-level detail for this dimension. - The filing contains no peer or industry comparison. The filing evidence contains no peer or industry comparison.

- Metrics to watch next period: - Whether Revenue from Contract with Customer, Excluding Assessed Tax and Revenues converge or continue to diverge in the next interim filing. - The full-year effect of the new revolving term loan facility, the March notes retirement, and the May term loan termination on interest expense and on the leverage ratios implied by the covenant package. - The balance-sheet footprint of the senior-note repurchases disclosed in this filing. - Any movement in commercial-paper access or cost, given the forward-looking caveat management has placed on the record.