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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.
- 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...
Pilgrim’s Pride Reports Third Quarter 2021 Results with Strong Growth in Sales and Adjusted EBITDA
Pilgrim’s Pride Corporation, one of the world's largest poultry producers, reports its third quarter 2021 financial results.
Third Quarter Highlights
- Net Sales of $3.83 billion, up 24% from prior year.- Consolidated GAAP Operating Income margin of 3.2% with GAAP Operating Income margins of 2.9% in U.S., 11.5% in Mexico and marginally positive in Europe. Adjusted U.S. Operating Income margin of 8.2%.- GAAP Net Income of $60.8 million. Adjusted Net Income of $162.5 million or adjusted EPS of $0.67...
Pilgrim’s Pride Reports Second Quarter 2021 Results with Growth in Sales
Pilgrim’s Pride Corporation reported its second quarter 2021 financial results.
Second Quarter Highlights
- Net Sales of $3.64 billion, up 29% from prior year.- Consolidated GAAP Operating Income margin of (3.4)% with GAAP Operating Income margins of (10.0)% in U.S., 17.5% in Mexico and 2.3% in Europe. Adjusted U.S. Operating Income margin of 7.8%.- GAAP Net Loss of $(166.7) million. Adjusted Net Income of $153.8 million or adjusted EPS of $0.63.- Adjusted EBITDA of $371.6 million, or...
Pilgrim’s Shares 2020 Sustainability Achievements
Pilgrim’s announced the release of its 2020 Sustainability Report, which includes the five-year results of its 2015 sustainability goals and aggressive new global targets that will guide the company’s sustainability strategy over the next decade and beyond. The report transparently details the company’s progress in key priority areas – animal care, team members, environment, communities, customers and consumers, and suppliers – across its operations in the UK, Continental Europe, Mexico and the United States.
Pilgrim’s has established sustainability as core to its business strategy, adopting industry-leading initiatives that build on the company’s long-standing commitment to sustainable food production. Pilgrim’s is the first major global meat and poultry company to offer a sustainability-linked bond tied to...
JBS and Pilgrim's Announce Free Meat For a Year Sweepstakes to Promote Vaccination Efforts
JBS USA and Pilgrim’s announced the “Your Shot at Free Meat for a Year” program to encourage the vaccination of Americans in the rural communities where the company operates. In partnership with local health authorities, the company will sponsor a series of free vaccination clinics and vaccine promotion events across more than 40 JBS USA and Pilgrim’s communities in the coming weeks. During the events, at least one newly-vaccinated participant per location will be eligible to win free, delicious beef, pork and poultry to feed a family of four for the next year. The company will also donate more than 1 million pounds of free beef, pork and poultry to support local communities hosting vaccine clinics.
“Since the onset of the pandemic, JBS USA and Pilgrim’s have been focused on protecting our team members and supporting our communities,” said Andre Nogueira, JBS USA CEO. “Most recently, our focus has been on...
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