Tyson Foods (TSN) TSN Q4 Financial Results Summary
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Tyson Foods (TSN) Q4 2025 Financial Results Summary
Tyson Foods, Inc. (NYSE: TSN) released its fourth quarter and fiscal 2025 financial results on November 10, 2025. The company reported year-over-year growth in sales, adjusted operating income, and adjusted earnings per share (EPS) despite a decrease in GAAP metrics.
Key Financial Highlights for Q4 and Fiscal 2025
Quarterly Results (Q4 2025 vs. Q4 2024)
- Sales:
- Q4 2025: $13,860 million (up 2.2%)
- Operating Income:
- Q4 2025: $158 million (down 70% vs. Q4 2024)
- Adjusted Operating Income:
- Q4 2025: $608 million (up 19%)
- Net Income Per Share Attributable to Tyson:
- Q4 2025: $0.13 (down 87%)
- Adjusted Net Income Per Share:
- Q4 2025: $1.15 (up 25%)
Annual Results (Fiscal 2025 vs. Fiscal 2024)
- Sales:
- Fiscal 2025: $54,441 million (up 2.1%; up 3.3% when excluding a legal contingency of $653 million recognized as a reduction to sales)
- GAAP Operating Income:
- Fiscal 2025: $1,098 million (down 22%)
- Adjusted Operating Income:
- Fiscal 2025: $2,287 million (up 26%)
- GAAP EPS:
- Fiscal 2025: $1.33 (down 41%)
- Adjusted EPS:
- Fiscal 2025: $4.12 (up 33%)
Margins
- GAAP Operating Margin:
- Q4 2025: 1.1%
- Fiscal 2025: 2.0%
- Adjusted Operating Margin:
- Q4 2025: 4.3%
- Fiscal 2025: 4.1%
Cash Flow and Shareholder Returns
- Cash Provided by Operating Activities:
- Fiscal 2025: $2,155 million (down 20%)
- Free Cash Flow:
- Fiscal 2025: $1,177 million (down 19%)
- Share Repurchase:
- Repurchased 3.5 million shares for $196 million during Fiscal 2025.
Debt and Liquidity
- Total Debt:
- Reduced by $957 million, ending with total liabilities at $36,658 million.
- Liquidity:
- $3.7 billion available as of September 27, 2025.
Dividends
- Effective November 7, 2025, the Board of Directors declared a quarterly dividend of $0.51 per share on Class A common stock and $0.459 per share on Class B common stock payable on December 15, 2025.
- This represents a 2% increase compared to the Fiscal 2025 annual dividend rate.
Segment Performance Overview
- Beef:
- Q4 Sales: $5,489 million (up 4.0% excluding legal contingencies)
- Operating Income: -$319 million (a decline)
- Pork:
- Q4 Sales: $1,414 million (down 4.2%)
- Operating Income: -$99 million
- Chicken:
- Q4 Sales: $4,411 million (up 3.7%)
- Operating Income: $447 million (up 10.1%)
- Prepared Foods:
- Q4 Sales: $2,546 million (up 3.0%)
- Operating Income: $143 million
Forecast for Fiscal 2026
- Anticipates 2% to 4% sales growth compared to fiscal 2025.
- Expects adjusted operating income of $2.1 billion to $2.3 billion and free cash flow between $0.8 billion and $1.3 billion.
- Projects adjusted operating income for chicken segment: $1,250 million to $1,500 million.
Summary
Tyson Foods’ financial results for Q4 and fiscal 2025 reflect both challenges and success in key sectors. Despite declines in some areas, the company demonstrated growth in adjusted operating income and EPS, showcasing its resilience and focus on multi-protein channels. Shareholder returns remain integral to its strategy, evidenced by the declared dividend increase.
| September 27, 2025 | September 28, 2024 | September 27, 2025 | September 28, 2024 | |
|---|---|---|---|---|
| Sales | 13,860 | 13,565 | 54,441 | 53,309 |
| Cost of Sales | 13,134 | 12,505 | 50,879 | 49,682 |
| Gross Profit | 726 | 1,060 | 3,562 | 3,627 |
| Selling, General and Administrative | 568 | 535 | 2,121 | 2,218 |
| Goodwill Impairment | — | — | 343 | — |
| Operating Income | 158 | 525 | 1,098 | 1,409 |
| Other (Income) Expense: | ||||
| Interest income | -16 | -29 | -73 | -89 |
| Interest expense | 106 | 130 | 449 | 481 |
| Other, net | — | -51 | -47 | -75 |
| Total Other (Income) Expense | 90 | 50 | 329 | 317 |
| Income before Income Taxes | 68 | 475 | 769 | 1,092 |
| Income Tax Expense | 10 | 111 | 262 | 270 |
| Net Income | 58 | 364 | 507 | 822 |
| Less: Net Income Attributable to Noncontrolling Interests | 11 | 7 | 33 | 22 |
| Net Income Attributable to Tyson | 47 | 357 | 474 | 800 |
| Net Income Per Share Attributable to Tyson: | ||||
| Class A Basic | 0.14 | 1.03 | 1.37 | 2.31 |
| Class B Basic | 0.12 | 0.92 | 1.22 | 2.06 |
| Diluted | 0.13 | 1.00 | 1.33 | 2.25 |
| Dividends Declared Per Share: | ||||
| Class A | 0.500 | 0.490 | 2.010 | 1.970 |
| Class B | 0.450 | 0.441 | 1.809 | 1.773 |
| Sales Growth | 2.2 % | 2.1 % | ||
| Margins: (Percent of Sales) | ||||
| Gross Profit | 5.2 % | 7.8 % | 6.5 % | 6.8 % |
| Operating Income | 1.1 % | 3.9 % | 2.0 % | 2.6 % |
| Net Income Attributable to Tyson | 0.3 % | 2.6 % | 0.9 % | 1.5 % |
| Effective Tax Rate3 | 14.4 % | 23.3 % | 34.1 % | 24.8 % |
| September 27, 2025 | September 28, 2024 | |
|---|---|---|
| Assets | ||
| Current Assets: | ||
| Cash and cash equivalents | 1,229 | 1,717 |
| Accounts receivable, net | 2,524 | 2,406 |
| Inventories | 5,681 | 5,195 |
| Other current assets | 482 | 433 |
| Total Current Assets | 9,916 | 9,751 |
| Net Property, Plant and Equipment | 9,204 | 9,442 |
| Goodwill | 9,469 | 9,819 |
| Intangible Assets, net | 5,624 | 5,875 |
| Other Assets | 2,445 | 2,213 |
| Total Assets | 36,658 | 37,100 |
| Liabilities and Shareholders’ Equity | ||
| Current Liabilities: | ||
| Current debt | 909 | 74 |
| Accounts payable | 2,601 | 2,402 |
| Other current liabilities | 2,879 | 2,311 |
| Total Current Liabilities | 6,389 | 4,787 |
| Long-Term Debt | 7,921 | 9,713 |
| Deferred Income Taxes | 2,195 | 2,285 |
| Other Liabilities | 1,926 | 1,801 |
| Total Tyson Shareholders’ Equity | 18,085 | 18,390 |
| Noncontrolling Interests | 142 | 124 |
| Total Shareholders’ Equity | 18,227 | 18,514 |
| Total Liabilities and Shareholders’ Equity | 36,658 | 37,100 |