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Sales Operating Income Springdale , Arkansas - August 9 , 2021 - Tyson Foods , Inc. ( NYSE : TSN ) , one of the world's largest food companies and a recognized leader in protein with leading brands including Tyson , Jimmy Dean , Hillshire Farm , Ball Park , Wright , Aidells , ibp and State Fair , today reported the following results : ( in millions , except per share data ) Net Income Less : Net Income Attributable to Noncontrolling Interests Net Income Attributable to Tyson Net Income Per Share Attributable to Tyson Adjusted Operating Income Adjusted Net Income Per Share Attributable to Tyson 1 H Tyson TYSON FOODS REPORTS THIRD QUARTER 2021 RESULTS Generates Increased Sales , Volume Growth and Strong Operating Results TM ● ● $ ● $ $ $ Third Quarter 2021 2020¹ 12,478 $ 10,022 1,062 773 753 4 749 2.05 $ 1,372 $ 2.70 $ 1 $ 526 Certain items for the third quarter and nine months of fiscal 2020 have been revised as described in Part I , Item 1. Notes to Consolidated Condensed Financial Statements in the Company's Quarterly Report on Form 10 - Q for the fiscal quarter ended July 3 , 2021 . Nine Months Ended 2021 2020¹ 1,702 526 10 1,692 4.63 $ $ 1.44 $ 3,136 $ 758 $ 1.40 $ 5.98 $ 2 The Company reports its financial results in accordance with U.S. generally accepted accounting principles ( GAAP ) . Adjusted operating income and adjusted net income per share attributable to Tyson ( Adjusted EPS ) are non - GAAP financial measures . Refer to the end of this release for an explanation and reconciliation of these and other non - GAAP financial measures used in this release to comparable GAAP measures . • Total Company GAAP operating margin of 7.3 % ; Adjusted operating margin of 9.0 % • Generated approximately $ 2.7 billion of operating cash flows • Results impacted by approximately $ 270 million of direct incremental expenses related to COVID - 19 • Reduced total debt by approximately $ 1 billion 34,238 $ 31,725 2,487 2,046 First Nine Months Highlights GAAP EPS of $ 4.63 , up 20 % from prior year ; Adjusted EPS of $ 5.98 , up 61 % from prior year • GAAP operating income of $ 2,487 million , up 22 % from prior year ; Adjusted operating income of $ 3,136 million , up 49 % from prior year Third Quarter Highlights GAAP EPS of $ 2.05 , up 42 % from prior year ; Adjusted EPS of $ 2.70 , up 93 % from prior year GAAP operating income of $ 1,062 million , up 37 % from prior year ; Adjusted operating income of $ 1,372 million , up 81 % from prior year • Total Company GAAP operating margin of 8.5 % ; Adjusted operating margin of 10.8 % Liquidity of $ 3.4 billion at July 3 , 2021 • Entered into an agreement to sell our Pet Treats business for $ 1.2 billion ; closed in the fourth quarter of fiscal 2021 • Team member safety remains top priority ; requiring vaccination for U.S. team members ; nearly 50 % vaccinated so far 1,414 7 1,407 3.85 2,099 3.72 " We delivered a strong performance in a strong protein market , " said Tyson Foods President & CEO Donnie King . " With trusted brands that met strong consumer demand , we have delivered 12 consecutive quarters of share gains in core business lines at retail . Our foodservice volume improved as the restaurant industry began to reopen and recover . Our beef business increased production to meet strong U.S. and international demand for higher - quality products . And we continued to build financial strength , reducing our debt and investing in future growth by laying out plans to expand our business , both to address capacity constraints and meet growing demand . "