Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Pilgrim's Pride Corporation    PPC

PILGRIM'S PRIDE CORPORATION (PPC)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweetsMarketScreener Strategies

Pilgrim's Pride Corporation : Pilgrims Announces Strategic Investments; Operational Streamlining

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/20/2013 | 01:38am CET

GREELEY, Colo., Nov. 19, 2013 (GLOBE NEWSWIRE) -- Pilgrim's Pride Corporation (Nasdaq:PPC) today announced several operational changes to improve efficiencies as part of its goal to generate approximately $200 million in savings in 2014. Effective January 24, 2014, Pilgrim's will expand its operations in Russellville, Ala., and Douglas, Ga., to absorb the current fresh poultry processing operations in Boaz, Ala. This consolidation will allow the company to maintain current production levels, more efficiently utilize idle capacity and generate more than $20 million in incremental margin. In addition, the company will invest approximately $10 million to upgrade its feed mill in Falkville, Ala., and add approximately 100 jobs at the Douglas and Russellville operations.

"Today's announcement reflects the strength of our balance sheet, our willingness to strategically invest in our business and our continued commitment to the pursuit of operational excellence," said Bill Lovette, President and CEO of Pilgrim's Pride Corporation. "Given our decision to consolidate operations, our intent is to offer retention incentives to encourage many of our Boaz team members to remain with the company in different capacities. We are confident these capital improvement projects will position the company, our stakeholders and our team members for success for many years to come."

Purchased by Pilgrim's in 2007, Boaz is the company's smallest operation in terms of processing capacity and employs approximately 1,100 people.  Many Boaz employees will be offered opportunities at other nearby Pilgrim's operations and all employees will be offered retention incentives. The company anticipates that contract growers who currently supply the Boaz operation will have an opportunity to meet the enhanced supply needs of Pilgrim's operations in Russellville and Douglas.

Pilgrim's, consistent with its long-term strategy to align the company's core competencies with customer needs, will also invest approximately $25 million to expand large bird deboning capacity and modernize utilities at its Mt. Pleasant, Texas, facility.  The company previously announced an investment of $25 million to upgrade its feed mill and processing operations in Enterprise, Ala.

The strategic decisions announced today will allow Pilgrim's to optimize its operational network and efficiently deploy resources and capital to facilities with improved infrastructure, greater scale and more favorable opportunities for long-term, sustainable profitability.

About Pilgrim's Pride

Pilgrim's Pride Corporation employs approximately 37,500 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico. The company's primary distribution is through retailers and foodservice distributors. 

CONTACT: For Media Inquiries

         Cameron Bruett

         202 445 6168

         Cameron.bruett@jbssa.com


         For Investor Relations Inquiries

         Rosemary Geelan

         970 506 8192

         Rosemary.geelan@pilgrims.com
Source: Pilgrim's Pride Corporation

News Provided by Acquire Media

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PILGRIM'S PRIDE CORPORATIO
12/07PILGRIM PRIDE : FinFit Announces Partnership with Pilgrim’s Pride Corporat..
BU
11/13U.S. pigs out on bacon, ribs as trade wars cut chicken demand
RE
11/01PILGRIM PRIDE : PILGRIMS PRIDE CORP MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINA..
AQ
11/01PILGRIMS PRIDE CORP : Regulation FD Disclosure (form 8-K)
AQ
11/01PILGRIMS PRIDE CORP : Results of Operations and Financial Condition (form 8-K)
AQ
11/01PILGRIM'S PRIDE : 3Q Earnings Snapshot
AQ
10/31PILGRIM PRIDE : Announces Initiation of a New $200 Million Share Repurchase Prog..
AQ
10/31PILGRIM PRIDE : Reports Net Sales of $2.70 Billion, Operating Income of $85 Mill..
AQ
10/11Pilgrim’s Pride Corporation to Host Third Quarter 2018 Earnings Call on..
GL
09/25Pilgrim’s ® Teams Up with Kroger® to Donate 750,000 Meals to Support Fl..
GL
More news
News from SeekingAlpha
12/07PILGRIM'S PRIDE : Q3 Was The Abnormality Not The New Norm 
11/21Taking A Bite Out Of Tyson Foods 
11/09Playing Chicken With Tyson 
11/01Big turnaround for Pilgrim's Pride 
11/01Pilgrim's Pride (PPC) Q3 2018 Results - Earnings Call Transcript 
Financials ($)
Sales 2018 10 914 M
EBIT 2018 585 M
Net income 2018 302 M
Debt 2018 2 124 M
Yield 2018 -
P/E ratio 2018 12,70
P/E ratio 2019 9,49
EV / Sales 2018 0,59x
EV / Sales 2019 0,56x
Capitalization 4 270 M
Chart PILGRIM'S PRIDE CORPORATION
Duration : Period :
Pilgrim's Pride Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PILGRIM'S PRIDE CORPORATIO
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 22,3 $
Spread / Average Target 30%
EPS Revisions
Managers
NameTitle
William W. Lovette President, Chief Executive Officer & Director
Gilberto Tomazoni Chairman
Jayson Penn Executive Vice President-Sales & Operations
Fábio Sandri Chief Financial & Accounting Officer
Wallim Cruz de Vasconcellos Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
PILGRIM'S PRIDE CORPORATION-44.78%4 270
HORMEL FOODS21.85%23 638
TYSON FOODS-30.66%20 523
WH GROUP LTD-33.67%11 067
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT--.--%10 845
JBS SA23.49%8 425