Pilgrim's Pride Corporation (PPC)
- Reuters
Pilgrim's Pride underestimated U.S. meat supplies, hurting earnings
Pilgrim's Pride Corp, one of the biggest U.S. chicken companies, underestimated meat production at the end of last year, Chief Executive Fabio Sandri said on Thursday after the company reported a surprise quarterly loss. The company, owned mostly by meatpacker JBS SA, joined rival Tyson Foods Inc in misjudging that lower beef and pork supplies would increase demand for chicken as consumers grapple with high inflation. Pilgrim's shares still rose by 5% as the company said it expects beef supplies to shrink later this year and is now seeing some consumers switching to chicken.
- GlobeNewswire
Pilgrim’s Pride Reports Fourth Quarter and Year-End 2022 Results
GREELEY, Colo., Feb. 08, 2023 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ: PPC), one of the world's largest poultry producers, reports its fourth quarter and year-end 2022 financial results. 2022 Highlights Net Sales of $17.5 billion, up 18.2% from prior year.Consolidated GAAP Operating Income margin of 6.7% with GAAP operating income margins of 10.2% in U.S., 4.5% in Mexico, and break-even in Europe.GAAP Net Income of $745.9 million. Adjusted Net Income of $803.6 million, or adjuste
- Zacks
Pilgrim's Pride (PPC) Set to Report Q4 Earnings: Things to Note
Pilgrim's Pride's (PPC) fourth-quarter performance is likely to have witnessed an escalated cost of sales.
