TSN US S&P 500Russell 1000 Earnings call
Tyson Foods (TSN) · Q2 2026 results and valuation
Share price: $59.87 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · fiscal Q3 2026 · published 3 Aug 2026 and 4 May 2026
Net income down 30.0% on the previous quarter, guidance raised. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
−30.0%
Net income vs Q1 2026
Guidance raised
Net income 182.0M vs 260.0M
Revenue +1.6%
Against the same quarter last year (Q2 2025) it is +198.4%; the dip on last quarter is small next to the change on last year.
2 · How management spoke
Typical
More upbeat than 51% of company calls
Answers to analysts: typical, in line with the script.
Last call it was different: the answers were more upbeat than the script.
3 · What stood out
Guidance ↑
Prepared Foods raised guidance to a $1.3 billion to $1.35 billion range following a third straight quarter of volume and share growth.
Valuation
Is Tyson Foods undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-09-27), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 0.7% growth a year (3-year revenue growth), the model's fair value is $19.27 a share — the stock trades 211% above it. Today's price assumes 10.4% growth a year.
Current price
$59.87
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+10.4% for 10 yrs
Fair value / share
$19.27
Buy below
$14.45
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
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Guidance
TSN anticipates an interest expense of approximately $365 million and a tax rate of around 25% for the upcoming period.
Source quote
“We still anticipate interest expense of approximately $365 million and a tax rate of around 25%.”
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Figure
TSN reported a 1.7% or $42 million year-over-year increase in sales to $2.6 billion, marking the third consecutive quarter of volume and sales growth.
Source quote
“Q3 marks our third consecutive quarter of volume and sales growth, with sales up 1.7% or $42 million year-over-year to $2.6...”
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Fading
The company states it has the assets in place to provide meaningful improvement in terms and operations.
Source quote
“We have the assets in place that will provide meaningful improvement in terms and we will provide meaningful improvement in operational...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“In Prepared Foods, we expect continued growth in both volume and profit, supported by the strength of our brands, ongoing innovation and sustained consumer demand for convenient protein-centric options.”
“We've improved volume, gained market share and increased profitability.”
“Before I discuss the segment details, I want to emphasize how proud I am of the progress this team has made, improving our operational performance and execution, strengthening our portfolio...”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-27)
| Metric | Q2 2026period end 2026-06-27 | Q1 2026period end 2026-03-28 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 13.87B | 13.65B | +1.6% | 13.88B | −0.1% |
| Gross profit | 921.0M | 962.0M | −4.3% | 1.14B | −19.3% |
| Operating income | 362.0M | 435.0M | −16.8% | 260.0M | +39.2% |
| Net income | 182.0M | 260.0M | −30.0% | 61.0M | +198.4% |
| EPS | 0.52 | 0.73 | −28.8% | 0.17 | +205.9% |
| P/E today 31.9 | 36.1 | 50.3 | −14.2 | 25.1 | +11.0 |
Topics
Most discussed now
- Total company adjusted operating income was $547 million, a margin of 3.9%.
- Tyson Foods expects continued growth in top line and bottom line in the fourth quarter and for the full year.
- Chicken delivered its seventh straight quarter of volume and net sales growth with $488 million of segment operating income and...
- Tyson Foods is directly tied to and stand to benefit from consumer preference as protein is economically advantaged versus every other...
- Its strategy is working, and I want to take a moment to reinforce what Tyson Foods has built at Tyson, a...
Faded since Q1 2026
- Fading Tyson Foods did have some influence for some higher hog costs year-over-year.
- Dropped There's also a number of things that Tyson Foods is doing relative to simple ingredients inside that product, the quality of those...
- Fading I'm pleased with its performance in the second quarter, and Tyson Foods is raising its AOI guidance for the year...
- Fading Volume growth reflects distribution gains, innovation and improved promotional efficiency, supported by targeted MAP investments as…
Latest announcements
Official filings, newest first.
- Regulation FD disclosure · SEC 8-K
- Other events · SEC 8-K
- Material agreement; New financial obligation; Other events · SEC 8-K
- Regulation FD disclosure · SEC 8-K
- Material agreement; Other events · SEC 8-K
- Other events · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K