Pilgrim's Pride Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 25, 2023
July 26, 2023 at 05:00 pm EDT
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Pilgrim's Pride Corporation reported earnings results for the second quarter and six months ended June 25, 2023. For the second quarter, the company reported sales was USD 4,308.09 million compared to USD 4,631.65 million a year ago. Net income was USD 60.46 million compared to USD 362.12 million a year ago. Basic earnings per share from continuing operations was USD 0.26 compared to USD 1.51 a year ago. Diluted earnings per share from continuing operations was USD 0.25 compared to USD 1.5 a year ago.
For the six months, sales was USD 8,473.72 million compared to USD 8,872.04 million a year ago. Net income was USD 65.64 million compared to USD 642.55 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 2.65 a year ago. Diluted earnings per share from continuing operations was USD 0.28 compared to USD 2.65 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.