Pilgrim's Pride Posts $4.65B in Q3 Sales
PPC is trading near its 52-week low of $25 (5.5% above the low).
Summary
Pilgrim's Pride reported third-quarter sales of $4.65B, with EPS of 49c and net income of $117.6M, though profit and EBITDA missed estimates on compressed margins. Context matters: Q2 net income collapsed 96% to $13.2M on weak chicken prices and heavy litigation costs, with the U.S. segment swinging to an operating loss, so the third-quarter figures are the first read on whether margins have recovered. The stock also carries the JBS buyout overhang — the special committee hired Ropes & Gray and Moelis in October to evaluate JBS's offer for the 18% it doesn't own.
At the time of this announcement, PPC was trading at $26.38 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $6.3B. The 52-week trading range was $25.00 to $44.84. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.