Tyson Foods Executive Predicts Record Profits for 2016
Executives at Tyson Foods, Inc. are predicting record profits for the year, helped along by a steep drop in feed and livestock costs.
The Arkansas Democrat-Gazette reports that first-quarter profit grew 49 percent from the same time last year to $461 million. The Springdale-based company is one of the world's largest producers of meat and poultry.
Tyson stock surged on Friday by about 5 percent, closing at $57.10. Before closing, the stock hit an all-time high of $58.95 a share.
Executives also say the company will continue to invest in and build its portfolio of brands that includes Tyson, Jimmy Dean and Hillshire Farms.
Tyson Foods Carves up Increased Earnings
AgDay
