Pilgrim’s Pride Reports Third Quarter 2022 Results

Pilgrim’s Pride Corporation, one of the world's largest poultry producers, reports its third quarter 2022 financial results.

Third Quarter Highlights

• Net Sales of $4.47 billion, up 16.8% from prior year.
• Consolidated GAAP operating income margin of 7.6% with GAAP operating income margins of 11.9% in U.S., (3.2)% in Mexico and 1.2% in Europe.
• GAAP Net Income of $259.0 million and GAAP EPS of $1.08. Adjusted Net Income of $260.7 million or adjusted EPS of $1.09.
• Adjusted EBITDA of $460.5 million, or a 10.3% margin, 32.7% higher than...

Pilgrim’s Pride Announces Michael Cooper to Retire from Pilgrim’s Board of Directors

Pilgrim’s Pride Corporation today announced that Michael Cooper will retire from the Pilgrim’s Board of Directors (the “Board”) effective on April 27, 2022, the date of the next Annual Shareholders Meeting, following 13 years of service to Pilgrim’s and over 25 years in the poultry industry.

Initially appointed by the U.S. Bankruptcy Court as one of a two-member equity committee, Mr. Cooper was a key influence behind the Company’s emergence from bankruptcy while retaining the viability of Pilgrim’s initial stock...

Pilgrim’s Pride Reports Fourth Quarter and Year-End 2021 Results

Pilgrim’s Pride Corporation, one of the world's largest poultry producers, reports its fourth quarter and year-end 2021 financial results.

2021 Highlights

- Net Sales of $14.8 billion, up 22% from prior year.
- Consolidated GAAP Operating Income margin of 1.4% with Adjusted U.S. Operating Income margin of 7.1%.
- GAAP Net Income of $31.0 million. Adjusted Net Income of $557.4 million, or adjusted EPS of $2.28.
- Adjusted EBITDA of $1.3 billion, or an 8.7% margin, 64% higher than prior year.
- Our strategy and our portfolio continue to...

Update from Special Committee of Pilgrim’s Pride

The Special Committee of the Board of Directors of Pilgrim’s Pride Corporation today provided an update to the full Board of Directors of Pilgrim's Pride on the status of discussions with JBS S.A. regarding JBS's unsolicited proposal to acquire all of the outstanding shares of common stock of Pilgrim's Pride that JBS does not currently own for $26.50 per share in cash, which was previously announced on August 13, 2021.

The Special Committee has carefully and thoroughly reviewed the proposal from JBS in consultation with its financial and legal advisors...

Pilgrim’s Announces Significant Wage Increase in Mayfield, Kentucky

Pilgrim’s, a leading global food company and the largest employer in Graves County, Ky., today announced a $4.5 million annualized wage increase for team members at its Mayfield production facility to help support the local community recently impacted by a devastating tornado. The $2 per hour pay increase will elevate starting wages to $16.50 per hour at the Mayfield facility.

“The community of Mayfield has suffered through an incredibly challenging time and as a critical employer in the county, Pilgrim’s is committed to help bring back Mayfield stronger..."

Pilgrim’s Supports Mayfield Recovery with $1 Million Investment

Pilgrim’s, leading global food company and the largest employer in Graves County, Ky., today announced a $1 million investment to assist with community recovery needs and support long-term rebuilding efforts resulting from the recent tornado that impacted the area.

“We are humbled to contribute to the relief efforts in our hometown of Mayfield,” said Kent Massey, Pilgrim’s Mayfield complex manager. “The community has always supported us, and we are focused on helping with the efforts to rebuild during this critical time.”

Pilgrim’s will determine how funds will be...