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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 first quarter 2022 results, reporting net sales of $4.24 billion, a 29.5% increase from the previous year. The company achieved a GAAP net income of $280.6 million with a GAAP EPS of $1.15. Adjusted EBITDA reached $501.8 million, an increase of 97.7% year-over-year. While the U.S. retail and foodservice sectors showed strong growth, the European segment faced challenges due to labor shortages and escalating costs. The company expressed optimism amid ongoing inflationary pressures and aims to enhance operational efficiencies.
Pilgrim’s Pride Corporation (NASDAQ: PPC) will release its Q1 2022 financial results on April 27, 2022, after market close. The earnings conference call is scheduled for April 28, 2022, at 7:00 a.m. MT (9:00 a.m. ET), featuring remarks from executive management followed by a Q&A session. Investors can pre-register for the webcast to gain access to the call. The event will also be available for replay on the company’s investor website. Pilgrim’s employs over 59,000 staff and operates facilities in 14 states and internationally.
Pilgrim's Pride Corporation (Nasdaq: PPC) announced the retirement of Michael Cooper from its Board of Directors, effective April 27, 2022. Cooper, who has served on the Board for 13 years, was instrumental in the company’s emergence from bankruptcy and played a vital role as Chairman of the Audit Committee. Chairman Gilberto Tomazoni praised Cooper for his contributions to the company’s strategic growth. Pilgrim's operates protein production facilities across 14 states and internationally, employing over 59,000 team members.
Pilgrim’s Pride Corporation (NASDAQ: PPC) reported its fourth quarter and year-end 2021 financial results, achieving net sales of $14.8 billion, a 22% increase from last year. The GAAP net income is $31 million with an adjusted net income of $557.4 million, or EPS of $2.28. Adjusted EBITDA rose to $1.3 billion, a 64% year-over-year growth. Despite challenges like labor shortages and input cost inflation, the U.S. demand for chicken drove pricing stability. The company also made progress in ESG metrics and maintained a strong liquidity position.
The Special Committee of Pilgrim's Pride Corporation (NASDAQ: PPC) has updated its Board regarding JBS S.A.'s unsolicited acquisition proposal. Initially offered at $26.50 per share in August 2021, JBS increased the bid to $28.50 per share on November 15, 2021. However, the Special Committee, advised by financial and legal experts, concluded that the revised offer does not fairly value non-JBS shareholders' stakes. As of February 4, 2022, JBS plans to respond by the end of February, but no agreement is assured.
Pilgrim's, a leading global food company, announced a $4.5 million annualized wage increase for employees at its Mayfield facility in response to a recent tornado disaster. The $2 per hour increase boosts starting wages to $16.50 per hour. This initiative accompanies a previous commitment of $1 million for tornado relief. CEO Fabio Sandri emphasized the company's dedication to the local community, aiming to support recovery and strengthen the region. The Mayfield facility employs over 1,500 individuals and collaborates with 235 family farmers.
Pilgrim's Pride Corporation (NASDAQ: PPC) will release its fourth quarter and fiscal year 2021 financial results on February 9, 2022. The announcement follows an unsolicited acquisition proposal from majority stockholder JBS S.A. for additional shares not already owned by them. A conference call to discuss the results will take place on February 10, 2022, at 7:00 a.m. MT. Investors can pre-register for the event via the company’s investor website. The webcast will be available for replay two hours after the call, remaining accessible until April 28, 2022.
Pilgrim’s, a leading global food company, announced a $1 million investment to aid recovery efforts in Mayfield, Kentucky, following a devastating tornado. This funding will support long-term rebuilding and provide assistance to team members directly affected by the storm. The company has already delivered essential supplies to the community and aims to identify further needs in collaboration with local organizations. Pilgrim’s Mayfield facility employs over 1,500 people and supports local 235 family farmers and poultry growers, although its poultry production facility was unharmed.
Pilgrim’s Pride Corporation (NASDAQ: PPC) reported a strong performance in Q3 2021, with net sales reaching $3.83 billion, up 24% year-over-year. The company achieved GAAP Net Income of $60.8 million and adjusted net income of $162.5 million, translating to an adjusted EPS of $0.67. Improved margins were noted, particularly with U.S. operations at 8.2%. However, the European division faced challenges due to rising costs and lower pig pricing. The quarter also included a $126 million legal contingency accrual and the acquisition of Kerry Consumer Foods’ Meats and Meals business.
Pilgrim’s Pride Corporation (NASDAQ: PPC) will release its Q3 2021 financial results on October 27, 2021, after market close. Following this, executives will host a conference call and webcast on October 28, 2021, at 7:00 a.m. MT. Investors may pre-register for the webcast at the company's investor website. The call will not take questions. The company previously disclosed an unsolicited acquisition proposal from majority stockholder JBS S.A. for shares not owned by it.
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