Tyson Foods, Inc. (NYSE:TSN) reported first-quarter fiscal 2026 sales of $14.313 billion on Monday, up 5.1% from the prior year. Shares were trading lower in post-earnings activity following the release.

Adjusted EPS of 97 cents, down 15% YoY, beat an analyst estimate of 94 cents, while revenue exceeded an estimate of $14.085 billion. GAAP EPS was 24 cents, down 76% year over year.

The company said sales increased 6.2% excluding the impact of a $150 million increase in legal contingency accruals that was recognized as a reduction to Sales.

GAAP operating income was $302 million, down 48%, while adjusted operating income (non-GAAP) was $572 million, down 13%. Total company GAAP operating margin was 2.1%, and adjusted operating margin was 4.0%.

“Our first quarter results reflect solid execution across our portfolio,” said Donnie King, President & CEO of Tyson Foods. “Prepared Foods delivered top and bottom-line growth while Chicken reported its fifth consecutive quarter of year-over-year volume gains.”

“As protein demand continues to increase, our consistent share gains demonstrate we are well-positioned to capture this momentum. I’m encouraged by the progress we’ve made and confident we will drive continued improvement across the controllable aspects of our business in fiscal 2026.”

During the earnings conference call, a Tyson Foods executive said the company expects chicken to ...