Tyson Foods (TSN) FY2025 results: revenue $54.4 billion, up 2.1% on the year

Tyson Foods was founded in 1935 by John W. Tyson and has grown under four generations of family leadership. The filing calls it a world-class food company and a recognized leader in protein, with a portfolio of brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, State Fair, Aidells and ibp. It is headquartered in Springdale, Arkansas and had approximately 133,000 employees, whom it calls team members, on 27 September 2025. Four reportable segments carry the business, Beef, Pork, Chicken and Prepared Foods, with foreign operations in China, Malaysia, Mexico, South Korea, Thailand and the Kingdom of Saudi Arabia reported under International/Other. Products are marketed and sold primarily by its own sales staff to grocery retailers and wholesalers, meat distributors, warehouse club stores, military commissaries, industrial food processors, chain restaurants, live markets, export companies and domestic distributors.

Beef and pork

Beef processes live fed cattle and fabricates dressed carcasses into primal and sub-primal meat cuts and case-ready products, and it also sells specialty products such as hides, rendered products and variety meats. Pork does the same with live market hogs and takes in a live swine group and related specialty product processing. Both segments market domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international export markets, and both include logistics operations to move product through the supply chain. Cattle are bought on the open spot market by the company's own buyers visiting independent feed yards and public auctions, alongside risk-sharing and procurement arrangements with producers; the filing notes that the U.S. cattle market is experiencing limited supply of market-ready cattle. The majority of the live hog supply comes through procurement relationships with independent producers, on purchase agreements of various durations or bought daily, generally a few days before the animals are processed.

Chicken

The chicken operation is fully vertically integrated, covering breeding stock, contract farmers, feed production, processing, further-processing, marketing and transportation of chicken and related specialty products, including animal and pet food ingredients. Value-added products are mainly breaded chicken strips, nuggets, patties and other ready-to-fix or fully cooked chicken parts. The wholly-owned subsidiary Cobb-Vantress supplies poultry breeding stock, and the filing states it is one of the leading poultry breeding stock suppliers in the world; investing in breeding stock research lets the company breed the characteristics it wants into its flocks. Cobb-Vantress has business interests in Argentina, Brazil, China, the Dominican Republic, India, New Zealand, Peru, the Philippines, Spain, Tanzania, Turkey and the United Kingdom.

Prepared Foods

This segment manufactures and markets frozen and refrigerated food products under Jimmy Dean, Hillshire Farm, Ball Park, Wright and State Fair, plus the artisanal brands Aidells and Gallo Salame. The range runs from ready-to-cook and ready-to-eat sandwiches and sandwich components such as flame-grilled hamburgers and Philly steaks to pepperoni, bacon, breakfast sausage, turkey, lunchmeat, hot dogs, flour and corn tortilla products, appetizers, snacks, prepared meals, side dishes, meat dishes, breadsticks and processed meats. Its raw materials are commodity-based, including beef, pork, chicken, turkey, flour, vegetables, cheese, eggs and seasonings, some supplied by the other segments and some bought from numerous suppliers and manufacturers.

Seasons, customers and abroad

Demand for beef, chicken, pork and products such as hot dogs and smoked sausage generally rises through the spring and summer months and other key holiday periods and is softer in winter, while prepared meals, meat dishes, appetizers, bacon and breakfast sausage move the other way. Walmart Inc. accounted for approximately 18.7% of consolidated sales in fiscal 2025, spread across all four segments, and no other single customer or customer group reached 10%. Products were sold in approximately 140 countries and regions in fiscal 2025, with major markets including Canada, Central America, China, the European Union, the United Kingdom, Japan, Mexico, Malaysia, the Middle East, South Korea, Taiwan, Thailand and Vietnam. The filing states that the principal competitive elements are advertising, consumer and trade promotions, price, product safety and quality, brand identification, innovation, breadth and depth of product offerings, availability of products, customer service and credit terms. A separate subsidiary, Tyson New Ventures, invests in companies developing technologies, business models and products for the food industry, including new forms of protein and work on animal welfare, water management and packaging.

From Tyson Foods' annual report on Form 10-K for the year ended 27 September 2025. The filing

Written from the 10-K filed 10 November 2025: read the full 10-K.