Tyson Foods (TSN) official guidance

In Beef, industry conditions are challenged. We now expect a full-year segment operating income loss in the range of $650 million to $500 million as continued U.S.D.A. margin compression and higher cattle costs more than offset the benefits of our network optimization actions.

We anticipate segment operating loss, as adjusted, of $(650) million to $(500) million in fiscal 2026.

Based on the continuation of tight cattle supply, we expect segment operating income in Beef to be a loss between $500 million and $350 million.

We anticipate segment operating loss, as adjusted, of $(500) million to $(350) million in fiscal 2026.

Based on the continuation of a tight cattle supply, we expect Segment Operating Income in Beef to be a loss of $500 million-$250 million.

We anticipate segment operating loss, as adjusted, of $(500) million to $(250) million in fiscal 2026.

Based on the continuation of current variables of tight cattle supply conditions and the potential Heifer Retention, we expect adjusted operating income in beef to be a loss between $600 million and $400 million.

We anticipate adjusted operating loss between $(600) million to $(400) million in fiscal 2026.

In Chicken, we are reaffirming our full-year segment operating income outlook at a range of $1.9 billion-$2.05 billion.

We anticipate segment operating income, as adjusted, of $1.90 billion to $2.05 billion in fiscal 2026.

Following the strong year-to-date performance in Chicken, we are increasing our expectations of segment operating income to a range of $1.9 billion-$2.05 billion, an increase of $200 million at the midpoint.

We anticipate segment operating income, as adjusted, of $1.9 billion to $2.05 billion in fiscal 2026.

We anticipate segment operating income, as adjusted, of $1.65 billion to $1.90 billion in fiscal 2026.

We anticipate our adjusted operating income for chicken to be between $1.25 billion and $1.5 billion.

We anticipate adjusted operating income of $1,250 million to $1,500 million for fiscal 2026.

In Pork, we are reaffirming our segment operating income outlook of $250 million-$300 million.

We anticipate segment operating income, as adjusted, of $250 million to $300 million in fiscal 2026.

Our outlook for segment operating income for Pork remains $250 million-$300 million based on adequate supply of hogs, continued productivity and operational improvement and robust consumer demand for pork.

We anticipate segment operating income, as adjusted, of $250 million to $300 million in fiscal 2026.

We anticipate Segment Operating Income for Pork to be $250 million-$300 million based on an adequate supply of hogs, continued productivity and operational improvements, and robust consumer demand for pork.

We anticipate segment operating income, as adjusted, of $250 million to $300 million in fiscal 2026.

We anticipate adjusted operating income for pork to be $150 million-$250 million, based on our ample supply of hogs and with continued emphasis on the operational metrics of our business.

We anticipate adjusted operating income of $150 million to $250 million in fiscal 2026.

Total company adjusted operating income range is now forecasted to be $2.1 billion-$2.3 billion, driven by the challenges in our Beef segment relating to cattle availability.

We anticipate total company adjusted operating income of $2.1 billion to $2.3 billion for fiscal 2026.

We have increased our range for total company adjusted operating income by $100 million at the midpoint with a current range of $2.2 billion-$2.4 billion.

We anticipate total company adjusted operating income of $2.2 billion to $2.4 billion for fiscal 2026.

We expect the range for total company Adjusted Operating Income to be between $2.1-$2.3 billion.

We anticipate total company adjusted operating income of $2.1 billion to $2.3 billion for fiscal 2026.

We expect the range for total company adjusted operating income to be between $2.1 billion and $2.3 billion.

We anticipate total company adjusted operating income of $2.1 billion to $2.3 billion for fiscal 2026.

We narrowed full-year sales growth guidance to 2.5%-3.5% year-over-year.

We expect sales to be up 2.5% to 3.5% in fiscal 2026 as compared to fiscal 2025.

We still anticipate full year sales to be up 2%-4% year-over-year.

We expect sales to be up 2% to 4% in fiscal 2026 as compared to fiscal 2025.

We still anticipate full-year sales to be up 2%-4% year-over-year.

We expect sales to be up 2% to 4% in fiscal 2026 as compared to fiscal 2025.

We anticipate full-year sales to be up 2%-4% year-over-year.

We expect sales to be up 2% to 4% in fiscal 2026 as compared to fiscal 2025.

We expect capital expenditures of $0.7 billion to $0.9 billion in fiscal 2026.

We expect capital expenditures of $0.7 billion to $1.0 billion in fiscal 2026.

We expect capital expenditures of $0.7 billion to $1.0 billion in fiscal 2026.

We remain disciplined in managing cash, with CapEx expected to be $700 million-$1 billion, and free cash flow in the range of $800 million-$1.3 billion.

We expect capital expenditures between $700 million to $1.0 billion for fiscal 2026. Capital expenditures include investments in profit improvement projects as well as projects for maintenance and repair.

Corporate expenses and amortization are anticipated to be $950 million-$975 million, no change from our previous guidance.

Corporate expenses and amortization are anticipated to be $950 million-$975 million.

We anticipate interest expense of approximately $365 million, lower than previous guidance by $5 million and a tax rate of around 25%.

We anticipate interest expense of approximately $370 million and a tax rate of around 25%.

We anticipate interest expense of approximately $390 million and a tax rate of around 25%.

We expect free cash flow to be between $1.3 billion and $1.7 billion for fiscal 2026.

We remain disciplined in managing cash with CapEx expected to be between $700 million and $1 billion and stronger free cash flow now in the range of $1.2 billion-$1.8 billion.

We expect free cash flow to be between $1.2 billion and $1.8 billion for fiscal 2026.

We remain disciplined in managing cash, with CapEx expected to be $700 million to $1 billion, and free cash flow in the range of $1.1-$1.7 billion.

We expect free cash flow to be between $1.1 billion and $1.7 billion for fiscal 2026.

We remain disciplined in managing cash, with CapEx expected to be $700 million-$1 billion, and free cash flow in the range of $800 million-$1.3 billion.

We expect free cash flow to be between $0.8 billion and $1.3 billion for fiscal 2026.

We anticipate interest expense of approximately $365 million, lower than previous guidance by $5 million and a tax rate of around 25%.

We anticipate interest expense of approximately $370 million and a tax rate of around 25%.

We expect net interest expense to approximate $370 million in fiscal 2026.

We anticipate interest expense of approximately $390 million and a tax rate of around 25%.

We expect net interest expense to approximate $390 million for fiscal 2026.

We anticipate segment operating income, as adjusted, of $150 million to $200 million in fiscal 2026.

Our International segment performed in line with expectations, and our annual outlook remains $150 million-$200 million.

We anticipate segment operating income, as adjusted, of $150 million to $200 million in fiscal 2026.

We expect a continuation of these metrics in 2026, and Segment Operating Income in International to be $150 million-$200 million.

We anticipate segment operating income, as adjusted, of $1.3 billion to $1.35 billion in fiscal 2026.

In Prepared Foods, we still expect segment operating income to be $1.25 billion-$1.35 billion.

We anticipate segment operating income, as adjusted, of $1.25 billion to $1.35 billion in fiscal 2026.

We anticipate segment operating income, as adjusted, of $1.25 billion to $1.35 billion in fiscal 2026.

In prepared foods, we expect adjusted operating income between $950 million and $1.05 billion.

We anticipate adjusted operating income of $950 million to $1,050 million in fiscal 2026.

We anticipate corporate expenses and amortization, as adjusted, of $950 million to $975 million in fiscal 2026.

We anticipate corporate expenses and amortization, as adjusted, of $950 million to $975 million in fiscal 2026.

We currently expect our adjusted effective tax rate to approximate 25% in fiscal 2026.

We currently expect our adjusted effective tax rate to approximate 25% for fiscal 2026.

We expect total liquidity, which was $3.7 billion as of March 28, 2026, to remain above our minimum liquidity target of $1.0 billion.

We expect total liquidity, which was $4.5 billion as of December 27, 2025, to remain above our minimum liquidity target of $1.0 billion.

We expect total liquidity, which was $3.7 billion as of September 27, 2025, to remain above our minimum liquidity target of $1.0 billion.

We expect adjusted operating income in international other to be $100 million-$150 million.

We anticipate similar results from our foreign operations in fiscal 2026 on an adjusted basis.