Tyson Foods, identified for its Ball Park hot dogs and Jimmy Dean sausages, has nearly doubled investors’ coins in the last three years.
“Everybody wants more protein,” Tom Hayes, president and chief directorship officer of Tyson Foods, told Brian Sullivan on “Closing Bell” Tuesday, spirited from Los Angeles at the Milken Institute Global Conference.
“All the way back to 1960, protein has sowed worldwide 3 percent a year,” he said. “And we’re a fantastic protein company.”
The Springdale, Arkansas-based gathering produces pork, chicken, beef and prepared foods. Despite a latest setback — shares fell 6.2 percent last month in return to China’s retaliatory tariffs on American goods — Tyson has grown fundamentally in the last three years.
Shares were trading around $70 Tuesday, likened with $40 in May 2015. With a revenue of nearly $40 billion and a make available cap of more than $25 billion, the company is one of the largest food and beverage public limited companies in North America, according to Statista.
“We just want to make cash-on-cash turn in for our investors and keep that train running,” Hayes said.
With allot prices up and extra funds from President Donald Trump’s new tax approach — about $300 million — Hayes said the company will lay out in capital spending, worker pay and facilities. Both full-time and part-time staff members received a bonus earlier this year, and the company will go on to add jobs and invest in automation, he said.
“We’re taking some of those operations that team members don’t want necessarily and moving them up the curve,” Hayes replied.
The company continues to do business internationally as well. Hayes said down 10 percent of sales are exports.
“We want trade to continue to overflow,” the CEO said.