Welcome to our dedicated page for Pilgrims Pride Corporation news (Ticker: PPC), a resource for investors and traders seeking the latest updates and insights on Pilgrims Pride Corporation stock.
Pilgrim's Pride Corporation (NASDAQ: PPC) is one of the world's largest poultry producers, based in Tuscumbia, Alabama. The company operates numerous protein processing plants and prepared-foods facilities across 14 states in the U.S., as well as Puerto Rico, Mexico, the U.K., the Republic of Ireland, and continental Europe.
As the second-largest poultry producer in the U.S., the U.K., and Mexico, Pilgrim's Pride commands a significant market share. In 2023, U.S. operations accounted for 58% of sales, the U.K. and other European markets contributed 30%, and Mexico comprised 12%. The company's acquisition of Tulip in 2019 expanded its footprint to include pork operations in the U.K. and Europe.
Pilgrim's Pride's product portfolio includes fresh chicken, prepared chicken, and pork products, catering to chain restaurants, food processors, food distributors, and retail chains. In the U.S. and Mexico, fresh chicken dominates sales, while the U.K. and Europe see a higher sale of prepared chicken and pork products.
JBS owns over 80% of Pilgrim's Pride shares, although an attempt to acquire the remaining stake was deemed undervaluing by a special board committee in 2021.
Latest financial results indicate continued growth and operational excellence despite challenging market conditions. Under the leadership of CEO Fabio Sandri, the company has focused on portfolio diversification, key customer relationships, and operational efficiency. This has resulted in improved profitability across all regions, even amid volatile market conditions and consumer inflation. Significant investments are being made in automation, facility expansion, and sustainability efforts to reduce the company's GHG emissions footprint.
For more information, visit www.pilgrims.com.
Pilgrim's Pride reported strong Q3 2024 results with net sales of $4.6 billion, up 5.2% year-over-year. The company achieved a GAAP operating income of $508.4 million with an 11.1% margin. Notable highlights include GAAP Net Income of $350.0 million and EPS of $1.47. The U.S. Fresh portfolio showed improvement through operational excellence and strong demand, while Europe improved Adjusted EBITDA by nearly 40% versus prior year. The company maintained a strong liquidity position with a net leverage ratio of 0.65x Adjusted EBITDA. Branded prepared foods portfolio expanded across retail and foodservice, with branded sales in Mexico rising over 20%.
Pilgrim's (NASDAQ: PPC) has released its 2023 Sustainability Report, highlighting achievements across global operations in the United States, Puerto Rico, Mexico, Europe, and the United Kingdom. The report showcases significant progress in sustainability initiatives, including a 17% reduction in absolute scope 1 and 2 GHG emissions since 2019 and 14.2% renewable electricity usage in global operations.
Key achievements include the approval of 130+ GHG emissions reduction projects, 100% third-party certification for food safety and quality in U.S. and European facilities, and a 24% improvement in Global Safety Index performance since 2022. The company focuses on sustainable food production, community engagement, and continuous improvement across its poultry, pork, and prepared foods operations.
Pilgrim's Pride (NASDAQ: PPC) has announced the release of its third quarter 2024 financial results after the U.S. market closes on October 30, 2024. The company will host a conference call and webcast on October 31, 2024, at 7:00 a.m. MT (9:00 a.m. ET) to review the results. The call will include prepared remarks on financial and operational results, followed by a Q&A session with executive management.
Investors and analysts can pre-register for the webcast to receive immediate access. Registration is available on the company's investor website or through a provided link. Those who haven't pre-registered can join by dialing specific numbers on the day of the event. The webcast replay will be available on Pilgrim's website until January 31, 2025, while a telephone replay can be accessed until November 30, 2024.
Pilgrim's Pride (NASDAQ: PPC) reported strong second quarter 2024 results, with net sales of $4.6 billion and a consolidated GAAP operating income margin of 9.7%. The company achieved a GAAP Net Income of $326.5 million and GAAP EPS of $1.37. Adjusted EBITDA reached $655.9 million, representing a 14.4% margin. Pilgrim's Pride saw improvements across its U.S., European, and Mexican operations, with notable growth in branded offerings and partnerships with key customers. The company's strong liquidity position, with a net leverage ratio of 1.1x Adjusted EBITDA, provides a solid foundation for executing its growth strategy.
Pilgrim’s Pride (NASDAQ: PPC) announced it will release its second quarter 2024 financial results after the U.S. market closes on July 31, 2024. A conference call and webcast will follow on August 1, 2024, at 7 a.m. MT (9 a.m. ET) to review the results. The call will include prepared remarks from the company's executives, followed by a Q&A session. Investors and analysts can pre-register for the call via the company's investor website or join on the day of the event by dialing specific phone numbers. The webcast will be available for replay on the company’s website two hours after the call and will remain accessible through November 1, 2024. A telephone replay will also be available until September 1, 2024.
Pilgrim's Pride (NASDAQ: PPC) reported strong first quarter 2024 financial results with $4.4 billion in net sales and operating income of $250.3 million. The company's diversified U.S. fresh portfolio, Prepared Foods segment, European operations, and Mexican market showed positive growth and improved results. Pilgrim's also highlighted its sustainability efforts, including a significant decrease in GHG emissions intensity. The company's leadership is focused on driving profitable growth and operational excellence.
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