1659 ET - Pilgrim's Pride, the second largest chicken company, reported a $236 million profit for 4Q, up from $135 million the prior year as livestock feed costs decline across the meat industry. Pilgrim's sales fell 3.5% to $4.37 billion, missing analyst expectations for the period. Besides lower prices for grain to feed its chickens, Pilgrim's said operational efficiencies also helped it improve its profitability. "While we experienced a positive market environment with lower input costs and strong chicken demand in 2024, we elevated our performance across all regions through a continued focus on controlling what we can control," said CEO Fabio Sandri in an earnings statement. Shares fell 2.5% in aftermarket trading. (patrick.thomas@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 16:59 ET (21:59 GMT)
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