Tyson Foods

Tyson grew second-quarter sales 4.4% year-over-year to $13.7 billion, though adjusted EPS slipped 5% to $0.87 as deep cattle-cycle losses in Beef offset gains elsewhere. Chicken delivered $523 million in segment operating income at a 12.2% margin on 1.7% volume growth, and Prepared Foods lifted segment operating income 7% to $352 million with margin expanding to 14% and share gains across bacon, lunch meat, and sausage. Management credited operational execution and its chicken genetics business, which drove roughly a third of the Chicken improvement, rather than commodity tailwinds. On the strength of first-half results, Tyson raised full-year adjusted operating income guidance by $100 million to a range of $2.2 billion to $2.4 billion and lifted its Chicken segment outlook by $200 million to $1.9 billion to $2.05 billion. Beef remains the drag, with full-year segment guidance implying a loss of $350 million to $500 million as cattle supplies stay near a 75-year low.