Earnings Per Share

12 Months Ended

Sep. 27, 2025

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS (LOSS) PER SHARE

The earnings and weighted average common shares used in the computation of basic and diluted earnings per share are as follows for fiscal years ended 2025, 2024 and 2023 (in millions, except per share data):

	2025		2024		2023
Numerator:
Net Income (Loss)	$	507	$	822	$	(649)
Less: Net Income (Loss) Attributable to Noncontrolling Interests	33		22		(1)
Net Income (Loss) Attributable to Tyson	474		800		(648)
Less dividends declared:
Class A	574		563		554
Class B	126		124		122
Undistributed earnings (losses)	$	(226)	$	113	$	(1,324)
Class A undistributed earnings (losses)	$	(185)	$	92	$	(1,084)
Class B undistributed earnings (losses)	(41)		21		(240)
Total undistributed earnings (losses)	$	(226)	$	113	$	(1,324)
Denominator:
Denominator for basic earnings (loss) per share:
Class A weighted average shares	285		284		284
Class B weighted average shares	70		70		70
Denominator for diluted earnings (loss) per share:
Class A weighted average shares	285		284		284
Class B weighted average shares under if-converted method for diluted earnings (loss) per share(a)	70		70		—
Effect of dilutive securities: Stock options, restricted stock and performance units	2		2		—
Denominator for diluted earnings (loss) per share – weighted average shares and assumed conversions(a)	357		356		284
Net Income (Loss) Per Share Attributable to Tyson:
Class A Basic	$	1.37	$	2.31	$	(1.87)
Class B Basic	$	1.22	$	2.06	$	(1.68)
Diluted(a)	$	1.33	$	2.25	$	(1.87)
Dividends Declared Per Share:
Class A	$	2.010	$	1.970	$	1.940
Class B	$	1.809	$	1.773	$	1.746

(a) For fiscal 2023, as the Company was in a net loss position, the impact of the Class B shares under the if-converted method was antidilutive and therefore we have not assumed conversion. As a result, the Class B weighted average shares, dividends declared and undistributed losses were excluded for the purposes of calculating Net Income (Loss) Per Share Attributable to Tyson on a diluted basis.

Approximately 6 million, 7 million, and 9 million of our stock-based compensation shares were antidilutive for fiscal 2025, 2024 and 2023. These shares were not included in the diluted earnings per share calculation.

We have two classes of capital stock, Class A stock and Class B stock. Cash dividends cannot be paid to holders of Class B stock unless they are simultaneously paid to holders of Class A stock. The per share amount of cash dividends paid to holders of Class B stock cannot exceed 90% of the cash dividends paid to holders of Class A stock.

We allocate undistributed earnings (losses) based upon a 1 to 0.9 ratio per share to Class A stock and Class B stock, respectively. We allocate undistributed earnings (losses) based on this ratio due to historical dividend patterns, voting control of Class B shareholders and contractual limitations of dividends to Class B stock.