Tyson Foods, known for its Ball Park hot dogs and also also also Jimmy Dean sausages, has nearly doubled investors’ money inside last three years.
“Everybody wants more protein,” Tom Hayes, president and also also also chief executive officer of Tyson Foods, told Brian Sullivan on “Closing Bell” Tuesday, live coming from Los Angeles at the Milken Institute Global Conference.
“All the way back to 1960, protein has grown worldwide 3 percent a year,” he said. “and also also also we’re a fantastic protein company.”
The Springdale, Arkansas-based company produces pork, chicken, beef and also also also prepared foods. Despite a recent setback — shares fell 6.2 percent last month in response to China’s retaliatory tariffs on American goods — Tyson has grown substantially inside last three years.
Shares were trading around $70 Tuesday, compared with $40 in May 2015. which has a revenue of nearly $40 billion and also also also a market cap of more than $25 billion, the company is usually one of the largest food and also also also beverage companies in North America, according to Statista.
“We just want to make cash-on-cash return for our investors and also also also keep that will train running,” Hayes said.
With share prices up and also also also extra funds coming from President Donald Trump’s fresh tax policy — about $300 million — Hayes said the company will invest in capital spending, worker pay and also also also facilities. Both full-time and also also also part-time employees received a bonus earlier This particular year, and also also also the company will continue to add jobs and also also also invest in automation, he said.
“We’re taking some of those jobs that will team members don’t want necessarily and also also also moving them up the curve,” Hayes said.
The company continues to do business internationally as well. Hayes said about 10 percent of sales are exports.
“We want trade to continue to flow,” the CEO said.