Pilgrim's Pride Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 24, 2023
October 26, 2023 at 03:38 am IST
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Pilgrim's Pride Corporation reported earnings results for the third quarter and nine months ended September 24, 2023. For the third quarter, the company reported sales was USD 4,360.2 million compared to USD 4,468.97 million a year ago. Net income was USD 121.28 million compared to USD 258.35 million a year ago. Basic earnings per share from continuing operations was USD 0.51 compared to USD 1.08 a year ago. Diluted earnings per share from continuing operations was USD 0.51 compared to USD 1.08 a year ago.
For the nine months, sales was USD 12,833.92 million compared to USD 13,341.01 million a year ago. Net income was USD 186.92 million compared to USD 900.91 million a year ago. Basic earnings per share from continuing operations was USD 0.79 compared to USD 3.74 a year ago. Diluted earnings per share from continuing operations was USD 0.79 compared to USD 3.73 a year ago.
Pilgrim's Pride Corporation is primarily engaged in the production, processing, marketing and distribution of fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The Company operates through three segments: United States (U.S.), United Kingdom (U.K.) and Europe, and Mexico. The Companyâs Fresh products consist of refrigerated (nonfrozen) whole or cut-up chicken, frozen whole chickens, breast fillets, primary pork cuts, added value pork and pork ribs. Its Prepared products include portion-controlled breast fillets, tenderloins and strips, delicatessen products, salads, formed nuggets and patties and bone-in chicken parts. Its Exported products primarily consist of whole chickens and chicken parts sold either refrigerated for distributors in the United States or frozen for distribution to export markets. Its Market overview consists of chain restaurants, food processors, broad-line distributors and certain other institutions.