Quarterly ResultJul 30, 2026, 06:08 AM
Pilgrim's Pride Q2 Net Income Plummets 96% to $13.4M
AI Summary
Pilgrim's Pride reported a substantial decline in its second-quarter 2026 financial performance, with net income attributable to the company plummeting 96.2% to $13.4 million and diluted EPS falling to $0.06. Net sales for the quarter also decreased by 2.8% to $4.63 billion. The company incurred $22.3 million in impairment losses related to a plant closure and conversion, while also completing the acquisition of Hermitage AI Ltd. for $3.1 million.
Key Highlights
- Net income attributable to Pilgrim's Pride for Q2 2026 decreased 96.2% to $13.4 million.
- Diluted EPS for Q2 2026 fell to $0.06, down from $1.49 in the prior year.
- Net sales for Q2 2026 were $4.63 billion, a 2.8% decrease from $4.76 billion.
- Operating income for Q2 2026 declined 87.1% to $66.0 million.
- Acquired Hermitage AI Ltd. for approximately $3.1 million on January 13, 2026.
- Recognized $22.3 million in PP&E impairment losses from plant closure and conversion.
- Cash provided by operating activities decreased 24.2% to $471.8 million for six months.
- Total assets decreased 3.0% to $10.03 billion from December 2025.
Price Impact
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