Quarterly ResultApr 30, 2026, 06:16 AM
PPC Q1 Net Income $101.4M, down 65.7%; EPS $0.43; Tender Offer $250M Notes
AI Summary
Pilgrim's Pride Corporation reported a significant decline in profitability for Q1 2026, with net income attributable to PPC falling 65.7% to $101.4 million and diluted EPS decreasing 65.3% to $0.43. This occurred despite a modest 1.6% increase in net sales to $4.53 billion. The company also commenced a tender offer to acquire $250.0 million of its 6.250% Senior Notes due 2033 and completed the acquisition of Hermitage AI Ltd. for $3.1 million.
Key Highlights
- Tender offer for $250.0M aggregate principal amount of 6.250% Senior Notes due 2033.
- Acquired Hermitage AI Ltd. for $3.1M on January 13, 2026.
- Net sales increased 1.6% to $4.53B for Q1 2026 from $4.46B YoY.
- Net income attributable to PPC decreased 65.7% to $101.4M from $296.0M YoY.
- Diluted EPS decreased 65.3% to $0.43 from $1.24 YoY.
- Gross profit declined to $345.5M from $554.9M YoY.
- U.S. net sales were $2.64B, Europe net sales $1.35B, and Mexico net sales $545.5M.
- Cash provided by operating activities increased to $140.8M from $126.9M YoY.
Price Impact
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