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Pilgrim’s Pride reports Q1 EPS 8c, consensus 6c
The Fly

Pilgrim’s Pride reports Q1 EPS 8c, consensus 6c

Reports Q1 revenue $4.17B, consensus $4.09B. CEO Fabio Sandri says: "Our strategy of fostering our partnerships with Key Customers, operational excellence and growing our diversified portfolio of businesses, has demonstrated its resilience to a variety of market challenges over the last few years. Despite improving market fundamentals during the quarter, business conditions remained difficult given elevated input costs, persistent inflation, and ample protein availability. Nonetheless, our team members’ relentless determination supported an improvement in margins relative to the prior quarter in all geographies. Our U.S. commodity business continued to face exceptionally challenging circumstances, especially in January. Nevertheless, our diverse portfolio across bird sizes and branded offerings mitigated market impacts, whereas our intense focus on operational excellence enhanced our performance. Our commitment to profitable growth continues as our automation projects, plant expansion at Athens, Georgia, and construction of a new protein conversion plant in south Georgia all remain on track."

Published first on TheFly

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