Tyson Foods (TSN) Q2 FY2026 earnings: revenue $13.7 billion, up 4.4% on the year

Tyson Foods, Inc. (TSN) reported revenue of $13.7 billion for Q2 FY2026, the quarter ended 28 March 2026, up 4.4% on the same quarter a year earlier. Net income was $260 million, up 3614.3% on the year, and diluted earnings per share $0.73. The figures are the company's own, from the 10-Q it filed with the SEC on 4 May 2026.

Revenue

$13.7 billion

+4.4% on the year · -4.6% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

3.2%

0.8% a year earlier

Q3 FY2024Q2 FY2026

Net income

$260 million

+3,614.3% on the year · +205.9% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$0.73

+3,550.0% on the year · +204.2% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 raised, 1 lowered, 1 narrowed, 11 kept.

Sales rose 4.4 percent: Second quarter sales were $13,653 million, up 4.4%. Excluding the $343 million prior-year legal accrual, sales rose 1.8%.
Adjusted EPS fell five percent: Adjusted EPS was $0.87 against $0.92 a year earlier. GAAP diluted EPS was $0.73 against $0.02.
Chicken adjusted profit rose: Chicken adjusted segment operating income rose to $523 million from $411 million, with an adjusted margin of 12.2% against 9.9%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	13,653	14,313	13,074	-4.6%	+4.4%
Cost of revenue	12,691	13,505	12,474	-6.0%	+1.7%
Gross profit	962	808	600	+19.1%	+60.3%
Gross margin	7.0%	5.6%	4.6%
Selling, general and administrative	527	506	500	+4.2%	+5.4%
Operating income	435	302	100	+44.0%	+335.0%
Operating margin	3.2%	2.1%	0.8%
Interest expense	97.0	104	110	-6.7%	-11.8%
Pre-tax income	359	127	30.0	+182.7%	+1,096.7%
Income tax	95.0	37.0	16.0	+156.8%	+493.8%
Effective tax rate	26.5%	29.1%	53.3%
Net income	260	85.0	7.0	+205.9%	+3,614.3%
Net margin	1.9%	0.6%	0.1%
Diluted EPS	$0.73	$0.24	$0.02	+204.2%	+3,550.0%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	-113	942	-185
Capital expenditure	145	252	193	-42.5%	-24.9%
Free cash flow	-258	690	-378
Free cash flow margin	-1.9%	4.8%	-2.9%
Cash from investing	-116	-183	-181
Cash from financing	-549	-718	-937
Depreciation and amortisation	350	376	352	-6.9%	-0.6%
Dividends paid	176	177	174	-0.6%	+1.1%
Diluted shares, weighted	354m	354m	357m	0.0%	-0.8%
Shares outstanding at period end	352m	352m	356m	+0.0%	-1.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	18,098	18,023	18,400	+0.4%	-1.6%
Non-controlling interest	103	140	131	-26.4%	-21.4%
Debt	8,083	8,362	9,068	-3.3%	-10.9%
Other liabilities	8,881	9,494	8,681	-6.5%	+2.3%
Total liabilities and equity	35,165	36,019	36,280	-2.4%	-3.1%
Fixed assets	8,917	9,064	9,278	-1.6%	-3.9%
Goodwill	9,472	9,474	9,805	-0.0%	-3.4%
Intangible assets	5,526	5,577	5,740	-0.9%	-3.7%
Cash and equivalents	500	1,278	992	-60.9%	-49.6%
Receivables	2,399	2,429	2,385	-1.2%	+0.6%
Inventory	5,478	5,406	5,395	+1.3%	+1.5%
Other assets	2,873	2,791	2,685	+2.9%	+7.0%
Total assets	35,165	36,019	36,280	-2.4%	-3.1%

Questions

What was Tyson Foods' revenue in Q2 FY2026?

Tyson Foods (TSN) reported revenue of $13.7 billion for Q2 FY2026, the quarter ended 28 March 2026, up 4.4% on the same quarter a year earlier.

How much did Tyson Foods earn in Q2 FY2026?

Net income for Q2 FY2026 was $260 million, up 3614.3% on the year, and diluted earnings per share $0.73.

When did Tyson Foods report Q2 FY2026 results?

Tyson Foods filed its 10-Q for the quarter ended 28 March 2026 with the SEC on 4 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	12,811	12,933	13,117	13,495	13,737	13,260	13,133	13,140	13,348	13,319	13,072	13,353	13,565	13,623	13,074	13,884	13,860	14,313	13,653	13,868
Cost of revenue	10,335	10,918	11,382	11,884	12,430	12,292	12,606	12,463	12,889	12,496	12,206	12,475	12,505	12,528	12,474	12,743	13,134	13,505	12,691	12,947
Gross profit	2,476	2,015	1,735	1,611	1,307	968	527	677	459	823	866	878	1,060	1,095	600	1,141	726	808	962	921
Gross margin	19%	16%	13%	12%	10%	7%	4%	5%	3%	6%	7%	7%	8%	8%	5%	8%	5%	6%	7%	7%
SG&A	567	560	579	578	541	501	576	579	589	592	554	537	535	515	500	538	568	506	527	559
Operating income	1,909	1,455	1,156	1,033	766	467	-49.0	-350	-463	231	312	341	525	580	100	260	158	302	435	362
Operating margin	15%	11%	9%	8%	6%	4%	-0%	-3%	-3%	2%	2%	3%	4%	4%	1%	2%	1%	2%	3%	3%
Interest expense	n/a	n/a	n/a	n/a	n/a	84.0	89.0	89.0	93.0	105	111	135	130	120	110	113	106	104	97.0	98.0
Pre-tax income	1,835	1,410	1,087	986	666	434	-130	-426	-556	161	203	253	475	478	30.0	193	68.0	127	359	266
Tax rate	26%	20%	23%	24%	19%	26%	n/a	n/a	n/a	29%	27%	23%	23%	23%	53%	64%	15%	29%	26%	30%
Net income	1,355	1,121	829	750	538	316	-97.0	-417	-450	107	145	191	357	359	7.0	61.0	47.0	85.0	260	182
Net margin	11%	9%	6%	6%	4%	2%	-1%	-3%	-3%	1%	1%	1%	3%	3%	0%	0%	0%	1%	2%	1%
Diluted EPS	$3.71	$3.07	$2.28	$2.07	$1.50	$0.88	-$0.28	-$1.18	-$1.31	$0.30	$0.41	$0.54	$1.00	$1.01	$0.02	$0.17	$0.13	$0.24	$0.73	$0.52
Operating cash flow	1,184	1,432	-208	666	797	762	7.0	660	323	1,300	-123	796	617	1,031	-185	774	535	942	-113	640
Capital expenditure	350	408	439	476	564	589	508	467	375	354	267	263	248	271	193	227	287	252	145	159
Free cash flow	834	1,024	-647	190	233	173	-501	193	-52.0	946	-390	533	369	760	-378	547	248	690	-258	481
Dividends paid	159	164	164	163	162	169	167	167	167	171	171	171	171	175	174	175	173	177	176	176
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	356m	356m	356m	356m	353m	352m	352m	352m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 28 March 2026, filed 4 May 2026: the filing.