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Pilgrim's Pride Reports Higher Quarterly Income
USAgNet - 02/16/2018

Pilgrim's Pride reported fourth quarter income of $0.54, $0.03 better than the analyst estimate of $0.51. Revenue for the quarter came in at $2.74 billion versus the consensus estimate of $2.55 billion.

"We generated strong, well-balanced consolidated performance in 2017. Our U.S. and Mexico operations were solid despite logistical challenges in Q4 due to the after-effects from natural events in Puerto Rico, Mexico and the U.S., while our newly acquired U.K. and continental Europe operations were consistent," stated Bill Lovette, Chief Executive Officer of Pilgrim's. "The performance once again demonstrated the strength and diversity of our portfolio of bird sizes, and is what fundamentally differentiates us from the competition, giving us the potential to reduce volatility and generate higher margins over time. While small-bird and tray-pack have remained strong during Q4, conditions in the commodity markets declined in-line with seasonality but are already recovering well in the new year, indicating the continuation of chicken demand as the protein of choice in domestic and international markets."

Net Sales of $2.74 billion were reported during the quarter. That's more than the $1.91 billion made during the same three months in 2016.

Adjusted Operating Income margins of 7.3% in U.S., 4.0% in Mexico and 5.0% in Europe operations, respectively, adjusted for non-recurring items related to weather events, Moy Park acquisition and Exchange Rate fluctuations.


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