(Tiffany Hagler-Geard/Bloomberg)Key Takeaways: Tyson Foods cut its fiscal 2026 adjusted operating income outlook to $2.1 billion-$2.3 billion as beef-business losses remained worse than expected. The weaker outlook suggests Tyson’s efforts to reduce production capacity have yet to have a significant impact on results for its struggling beef business. The business continued to post an adjusted operating loss in the third quarter, extending a losing streak that began in early 2024. Meanwhile, Tyson’s chicken business continues to be a key growth driver, offsetting its struggles in beef. Still, the USDA’s report also signaled that ranchers are holding onto more beef animals for rebuilding the herd.