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) will host its first quarter 2021 earnings conference call on April 29, 2021, at 7:00 a.m. MT (9:00 a.m. ET). The call will include financial and operational results, followed by a Q&A session with the management team. Investors can pre-register for the webcast to receive a unique PIN for immediate access. The webcast will be available for replay two hours post-event, lasting until July 29, 2021. For further information, visit the company's website.
Pilgrim's Pride Corporation (NASDAQ: PPC) announced the early results of its Tender Offer to purchase all of its $1.0 billion Senior Notes due 2025. As of April 7, 2021, approximately $896 million, or 89.61%, of the Notes were validly tendered. The Total Consideration for each $1,000 principal amount will be $1,021.50, including an early tender payment of $30. The Company has received the required consents for proposed amendments to eliminate restrictive covenants. The Expiration Time for remaining holders to tender their Notes is April 21, 2021.
Pilgrim's Pride Corporation (NASDAQ: PPC) announced an offering of $1 billion in sustainability-linked senior unsecured notes, subject to market conditions. Proceeds will fund a cash tender offer for its outstanding 5.750% Senior Notes due 2025, which currently total $1 billion. The offering aims to facilitate the purchase or redemption of these notes. The notes will be offered privately and are exempt from registration under U.S. securities laws. The announcement underscores the company’s financial maneuvers amidst evolving market conditions.
Pilgrim's Pride Corporation (NASDAQ: PPC) has initiated a cash tender offer for its outstanding $1 billion 5.750% Senior Notes due 2025. The tender offer is coupled with a consent solicitation to amend the indenture governing the Notes, seeking to eliminate restrictive covenants and modify the redemption notice period. Holders must tender their Notes to consent to the proposed amendments. Total consideration for validly tendered Notes is $1,021.50 each, including an early tender payment of $30. The tender offer runs until April 21, 2021, unless extended.
Pilgrim's Pride Corporation (NASDAQ: PPC) is set to hold its annual meeting of shareholders on April 28, 2021, at 8 a.m. Mountain / 10 a.m. Eastern. The meeting will include a review of the fiscal year 2020 and other necessary business discussions. It will take place at Pilgrim's Pride headquarters in Greeley, Colorado. Pilgrim's Pride employs around 55,400 individuals and operates across 14 states, Puerto Rico, Mexico, the U.K., and Europe, primarily serving retailers and foodservice distributors.
Pilgrim's Pride Corporation (NASDAQ: PPC) announced the passing of board member Charles Macaluso, who contributed to the company for over a decade. CEO Fabio Sandri emphasized Macaluso's vital role in shaping the company's strategy and success. Serving as an independent board member since 2009, Macaluso was integral to the Audit Committee and had vast experience in finance. The board expresses deep condolences to his family, highlighting his commitment and impact on Pilgrim's progress.
Pilgrim’s Pride Corporation (NASDAQ: PPC) reported its Q4 and full-year 2020 results, highlighting a net GAAP income of $94.8 million despite challenges from the Covid-19 pandemic. The company achieved adjusted EBITDA of $788.1 million for the year, though full-year adjusted EBITDA decreased by 19.1%. Q4 net sales reached $3.1 billion, a 1.8% increase year-over-year. Key drivers included resilient U.S. performances and a strong rebound in Mexican operations. The company is optimistic about future growth, focusing on value-added specialty products while navigating market volatility.
Pilgrim’s Pride Corporation (NASDAQ: PPC) has appointed Matthew Galvanoni as global chief financial officer, effective March 15. With 26 years of finance experience, Galvanoni previously served as vice president of finance at Ingredion, overseeing financial operations for its $4 billion North American division. His extensive background includes roles at PricewaterhouseCoopers and Exelon Corporation. Pilgrim’s president Fabio Sandri emphasized the value of Galvanoni’s leadership and commitment to governance as the company aims for principled growth in the food industry.
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