Pilgrim's Pride 3Q Profit Soars on Higher Chicken Demand, Lower Costs

Dow Jones

Oct 31, 2024

By Paul Ziobro

Pilgrim's Pride posted significantly higher profit in its third quarter, boosted by increased demand for chicken and lower input costs.

The chicken producer on Wednesday reported third-quarter profit of $349.9 million, or $1.47 a share, compared with $121.3 million, or 51 cents a share, in the year ago quarter.

Adjusted earnings were $1.63 a share, ahead of the $1.40 expected by analysts, according to FactSet.

Revenue rose 5.2% to $4.58 billion. Analysts expected $4.69 billion.

The company noted that demand for chicken is rising in the U.S. due to competitive pricing compared to other protein. Margins, meanwhile, are getting a boost from streamlining producing and lower input costs.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

October 30, 2024 16:57 ET (20:57 GMT)

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Analysts expected $4.69 billion. \n\n\n  The company noted that demand for chicken is rising in the U.S. due to competitive pricing compared to other protein. Margins, meanwhile, are getting a boost from streamlining producing and lower input costs. \n\n\n \n\n\n  Write to Paul Ziobro at paul.ziobro@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 30, 2024 16:57 ET (20:57 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}