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 Corporation (NASDAQ: PPC) announced its intention to offer senior unsecured notes under its automatic shelf registration statement. The proceeds will be primarily used to repay outstanding term loans under its U.S. credit facility, with any remaining funds allocated for general corporate purposes. The offering will be managed by a consortium of banks including Barclays Capital and BofA Securities. Notably, the offering is contingent upon market conditions and will not constitute an offer to sell securities in any jurisdiction where it would be unlawful prior to registration.
Pilgrim’s Pride Corporation (NASDAQ: PPC) announced its fourth quarter and year-end 2022 financial results, with net sales of $17.5 billion, an 18.2% increase from the previous year. The company reported a GAAP net income of $745.9 million despite facing market volatility and inflation. Adjusted EBITDA was $1.6 billion, a 27.9% increase year-over-year. However, the fourth quarter saw a GAAP net loss of $155 million and an adjusted net loss of $115.7 million. The U.S. business maintained positive EBITDA, while the U.K. and Europe showed growth. The company emphasized sustainability improvements and ongoing investments for future growth.
Pilgrim’s Pride Corporation (NASDAQ: PPC) will announce its fourth quarter and fiscal year 2022 financial results on February 8, 2023, after market close. Following this, a conference call and webcast will take place on February 9, 2023, at 7:00 a.m. MT (9:00 a.m. ET) for a detailed review of the results. Interested investors can pre-register for the event through the company’s investor website. A replay of the webcast will be available two hours post-call, remaining accessible until April 26, 2023. Pilgrim’s Pride operates in multiple countries and has over 60,000 employees.
Pilgrim’s Pride Corporation (NASDAQ: PPC) announced its Q3 2022 financial results, reporting net sales of $4.47 billion, a 16.8% increase year-over-year. The company posted a GAAP net income of $259 million with a GAAP EPS of $1.08. Adjusted EBITDA reached $460.5 million, marking a 32.7% rise. The U.S. segment performed strongly, with a 14% adjusted EBITDA margin, while challenges persisted in Mexico due to seasonality and operational issues. The company aims for sustainability with nearly $40 million in investments towards its Net Zero Program.
Pilgrim's Pride Corporation (NASDAQ: PPC) will announce its third quarter 2022 financial results on Oct. 26, 2022, after U.S. market closure. The earnings conference call is scheduled for Oct. 27, 2022, at 7 a.m. MT (9 a.m. ET). Investors can pre-register for the webcast via the company’s investor website, allowing for quick access to the call. A replay of the webcast will be available two hours post-call until Feb. 8, 2023. The company operates in multiple countries and employs over 60,000 individuals.
Pilgrim’s Pride Corporation (NASDAQ: PPC) has reported its Q2 2022 financial results, showing net sales of $4.63 billion, a 27.3% increase year-over-year. The company achieved a GAAP net income of $362 million and adjusted EBITDA of $623.3 million, marking a 67.7% rise compared to last year. Operating income surged to $512.9 million. The firm indicated strong brand growth in its U.S. retail sector, particularly with its Just Bare® and Pilgrim’s® products, which saw over 96% growth. Additionally, liquidity remains robust with an adjusted EBITDA net leverage ratio of 1.5x.
Pilgrim’s Pride Corporation (NASDAQ: PPC) will announce its second quarter 2022 financial results on July 27, 2022, after U.S. market close. The earnings conference call is scheduled for July 28, 2022, at 7 a.m. MT (9 a.m. ET). Investors can pre-register for the webcast on the company's investor site to bypass live operator assistance. A replay will be available shortly after the call and accessible until October 26, 2022. Pilgrim’s Pride employs over 59,000 team members, operating facilities across 14 states and beyond.
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