PILGRIMS PRIDE CORP

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.

Pilgrim's Pride Corporation reported a significant decline in its second quarter 2026 financial results. Net revenue decreased to $4.63 billion, while net income plummeted to $13.2 million, resulting in an EPS of $0.06. Adjusted EBITDA also saw a substantial drop to $360.0 million. The company attributed the declines to lower commodity market pricing in the U.S., reduced European pork prices, and challenging growing conditions in Mexico, alongside increased legal settlements and a loss on early debt extinguishment.

Pilgrim's Pride reported Q2 2026 net sales of $4.6 billion, a 2.8% decrease year-over-year. GAAP EPS significantly declined to $0.06 from $1.49, while Adjusted EPS was $0.64. Profitability was impacted by commodity market pricing reductions but showed sequential improvement due to productivity gains and plant upgrades. The company maintained a strong liquidity position with a net leverage ratio of 1.43x Adjusted EBITDA, below its target range.

Pilgrim's Pride Corporation announced it will release its second quarter 2026 financial results after the U.S. market closes on Wednesday, July 29, 2026. The company will host a conference call and webcast to discuss these results on Thursday, July 30, 2026, at 7:00 a.m. MT (9:00 a.m. ET). A press release and supplemental materials will be issued before the market opens on the day of the call.

Pilgrim's announced a strategic investment of approximately $75 million to expand and modernize its Ellijay, Georgia poultry facility. This investment aims to increase capacity for higher-value, boneless chicken products, aligning with evolving consumer preferences and supporting key customer growth. As part of this strategic shift, the company will close the aging harvesting portion of its Chattanooga, Tennessee operations, affecting 348 team members who will receive support for transfers and new opportunities. The Chattanooga deboning infrastructure will continue to support the expanded Ellijay operations.

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.

Pilgrim's Pride Corporation reported Q1 2026 Net Income of $101.5M, a 65.8% decrease YoY, with EPS falling to $0.43 from $1.24. Net Revenue saw a modest increase of 1.6% to $4,532.6M. Adjusted EBITDA declined significantly by 42.3% to $308.1M, with the US segment impacted by commodity pricing and operational disruptions, while Mexico's profitability also decreased.

Pilgrim's Pride Corporation reported first quarter 2026 net sales of $4.5 billion, a 1.6% increase year-over-year. However, GAAP EPS significantly decreased to $0.43 from $1.24, and Adjusted EBITDA fell to $308.1 million. The company highlighted healthy chicken demand and progress on growth projects, including the conversion of a U.S. Fresh plant and accelerated growth in U.S. Prepared Foods, with Just Bare® retail sales up nearly 40%. Europe maintained steady results, while Mexico's margins were compressed due to increased supply. Pilgrim's also surpassed its Scope 1 & 2 emissions intensity reduction targets and maintained a strong liquidity position.

Pilgrim's Pride reported Q1 2026 net sales of $4.53 billion, a 1.6% increase year-over-year, but GAAP EPS fell 65.3% to $0.43. Operating income and Adjusted EBITDA also saw significant declines. The company highlighted accelerating growth in U.S. Prepared Foods, with Just Bare® retail sales up nearly 40%, and progress on a new value-added facility in Georgia. Strategic investments in U.S. Fresh are expected to reduce portfolio volatility, while Europe maintained steady results and Mexico grew branded volumes despite margin compression.

Pilgrim's Pride Corporation announced the results of its tender offer for up to $250 million aggregate principal amount of its 6.250% Senior Notes due 2033. As of the Early Tender Date, $471,546,000 principal amount of Notes were validly tendered. Due to the tender amount exceeding the maximum, the company expects to accept $250,000,000 of Notes on a prorated basis, resulting in an approximate proration factor of 53%. The Total Consideration for accepted Notes is $1,056.90 per $1,000 principal amount, with early settlement expected on April 14, 2026.