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 2020 year-end earnings conference call on February 11, 2021, at 7:00 a.m. MT. The call will cover the company's financial and operational results, followed by a Q&A session with executive management. Investors can pre-register for the webcast on the company's website for immediate access. The call will also be available for replay on Pilgrim’s website two hours post-event until May 11, 2021. For telephone replay, participants can call +1 (877) 344-7529 in the US until March 11, 2021.
Pilgrim’s Pride Corporation (NASDAQ: PPC) reports Q3 2020 financial highlights with net sales of $3.08 billion, reflecting a 10.7% year-over-year increase. Adjusted net income stood at $161.7 million, or $0.66 per share. The U.S. operating income margin improved to 6.7% excluding the DOJ agreement, while adjusted EBITDA reached $305.0 million with a 9.9% margin. Notably, Mexico achieved one of its strongest Q3 results in history. The company emphasizes commitment to employee safety and community support, with a $20 million investment through its “Hometown Strong” initiative.
Pilgrim’s Pride Corporation (NASDAQ: PPC) announced a plea agreement with the U.S. Department of Justice involving a fine of $110,524,140 for antitrust violations linked to broiler chicken sales. This agreement resolves the ongoing investigation and does not require a monitor, restitution, or probation. Pilgrim's plans to record the fine as a miscellaneous expense in Q3 2020. CEO Fabio Sandri emphasized the company's commitment to fair competition and the certainty this agreement brings to stakeholders.
Pilgrim’s Pride Corporation (NASDAQ: PPC) is set to host its Q3 2020 earnings conference call on October 29, 2020, at 7:00 a.m. MT (9:00 a.m. ET). The event will feature prepared remarks on financial and operational results, followed by a Q&A session with the management team. Investors can pre-register for the webcast through the company’s website for immediate access. A replay will be available two hours post-call until January 29, 2021. Pilgrim’s Pride employs approximately 58,200 people across various locations, including the U.S. and Europe.
Pilgrim's Pride Corporation (NASDAQ: PPC) reported second quarter 2020 financial results, with net sales of $2.82 billion and a net GAAP loss of $6 million. Operating income margins were 2.2% in the U.S., -13.3% in Mexico, and 3.1% in Europe. Adjusted EBITDA stood at $112.2 million, reflecting a 4.0% margin. Despite the challenges posed by the Covid-19 pandemic, the company noted improvement in market performance by June 2020, particularly in the U.S. and Europe, while navigating volatility and adverse conditions in Mexico. The company's liquidity remains strong, backed by cash flow generation and disciplined investments.
Pilgrim’s Pride Corporation (NASDAQ: PPC) will host its second quarter 2020 earnings conference call on July 30, 2020, at 7:00 a.m. MT (9:00 a.m. ET). The call will include prepared remarks on the company's financial and operational results, followed by a Q&A session with executives. Investors can pre-register via the company’s website to receive a unique PIN for quicker access. The webcast will be available for replay on the company’s site two hours post-call, remaining accessible until October 30, 2020. For further information, visit www.pilgrims.com.
Pilgrim’s Pride Corporation (NASDAQ: PPC) announced that its president and CEO, Jayson Penn, has taken a paid leave of absence amid legal issues. Penn is focused on defending against an indictment he has pleaded not guilty to. Fabio Sandri, the company’s CFO, has been appointed interim president and CEO. The board supports this decision, emphasizing Pilgrim’s commitment to integrity and effective management during this period. Sandri has a long history with Pilgrim’s, having joined as CFO in 2011.
On June 3, 2020, Pilgrim's (NASDAQ: PPC) announced an indictment against a current executive and two former employees. The company emphasizes its commitment to ethical standards, governance, and competition that benefits consumers. Pilgrim's pledges full cooperation with the ongoing investigation by the Department of Justice.
FAQ
What is the current stock price of Pilgrims Pride Corporation (PPC)?
What is the market cap of Pilgrims Pride Corporation (PPC)?
What does Pilgrim's Pride Corporation do?
Where is Pilgrim's Pride Corporation headquartered?
Who owns the major shares of Pilgrim's Pride Corporation?
What are the main markets for Pilgrim's Pride?
What products does Pilgrim's Pride offer?
How has Pilgrim's Pride performed financially recently?
What sustainability efforts is Pilgrim's Pride undertaking?
What are the future plans for Pilgrim's Pride Corporation?
How does Pilgrim's Pride engage with its key customers?
Where can I find more information about Pilgrim's Pride Corporation?
