Pilgrims Pride Corp

PPC

Equity

ISIN US72147K1088 / Valor 10866654

NASDAQ (2024-11-22)

USD 51.71-1.03%

Pilgrims Pride Corp
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About company

Pilgrim's Pride Corp is a global company that owns Moy Park, a leading poultry and prepared foods company in the U.K. and Europe, as well as Tulip Limited, a leading pork and prepared foods company in the U.K. With 39 production facilities and 27 prepared foods facilities in 14 U.S. states, the U.K., Puerto Rico, Mexico, and Europe, Pilgrim's processes, prepares, packages, and delivers fresh, frozen, and value-added food products for sale in over 100 countries. The company partners with thousands of family farms for poultry, hog, and lamb supplies, and is known for providing high-quality food products, including well-recognized brands and value-added premium products, to retailers, restaurants, foodservice providers, and consumers worldwide. With a history of more than seven decades, Pilgrim's has established itself as one of the world's largest poultry producers and a fully integrated pork producer.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Net Sales

Pilgrim’s Pride Corp reported net sales of $4.6 billion for the second quarter of 2024, reflecting a 5.8% increase compared to the same period in 2023. This growth was driven by enhanced market conditions and disciplined execution of their strategies across various segments.

Operating Income

For the second quarter of 2024, Pilgrim’s Pride Corp achieved an operating income of $440.8 million, a significant increase of 339.5% from the $100.3 million reported in the second quarter of 2023. This improvement was attributed to better commodity fundamentals and operational excellence.

Net Income

Pilgrim’s Pride Corp reported a GAAP net income of $326.5 million for the second quarter of 2024, translating to a GAAP EPS of $1.37. This represents a substantial increase from the GAAP net income of $59.5 million and GAAP EPS of $0.25 reported in the same quarter of the previous year.

Adjusted EBITDA

In the second quarter of 2024, Pilgrim’s Pride Corp reported an adjusted EBITDA of $655.9 million, with an adjusted EBITDA margin of 14.4%. This marks a 163.7% increase from the adjusted EBITDA of $248.7 million reported in the second quarter of 2023, showcasing strong performance across their U.S., Europe, and Mexico operations.

Outlook

Pilgrim’s Pride Corp remains optimistic about future growth, supported by a strong liquidity position with a net leverage ratio of 1.1x adjusted EBITDA. The company continues to advance its strategy of growing and adding value to its portfolio, including the ramp-up of a new protein conversion plant in South Georgia to support future growth.

Summarized from source with an LLMView Source

Key figures

98.8%1Y

80.7%3Y

69.1%5Y

Performance

27.0%1Y

30.0%3Y

35.3%5Y

Volatility