Welcome to our dedicated page for Pilgrims Pride news (Ticker: PPC), a resource for investors and traders seeking the latest updates and insights on Pilgrims Pride stock.
Pilgrim’s Pride Corporation reports developments in poultry, prepared foods and broader protein operations across the United States, Mexico, the U.K., Ireland and continental Europe. Company news commonly covers quarterly results, fresh chicken demand, Case Ready and Small Bird activity, Big Bird efficiency projects, and prepared foods growth through brands such as Just Bare, Fridge Raiders and Rollover.
Updates also address retail and foodservice demand, portfolio and capacity investments, European protein and meal-occasion performance, Mexico expansion themes, and capital-structure actions such as senior note tender offers. The company sells primarily through retailers, foodservice distributors, chain restaurants, food processors and food distributors.
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Pilgrim's Pride Corporation (NASDAQ: PPC) reported its first quarter 2023 financial results, showing net sales of $4.2 billion. The company posted a GAAP net income of $5.6 million, translating to a GAAP EPS of $0.02, considerably lower than $1.15 per share from the previous year. Adjusted net income was $19.0 million, or $0.08 per share. Consolidated GAAP operating income margin stood at 0.8%, with Adjusted EBITDA at $151.9 million (3.6% margin). The U.S. operations improved despite elevated grain costs and inflation. The company's Prepared Foods segment, including brands Just Bare® and Pilgrim’s®, grew over 68% year over year. A successful $1 billion bond offering was executed, significantly oversubscribed. Business conditions remained challenging, though improvements in various markets were noted.
Pilgrim's Pride Corporation (NASDAQ: PPC) will announce its first quarter 2023 financial results on April 26, 2023, after U.S. market closure. A conference call and webcast for analysis of these results will follow on April 27, 2023, at 7:00 a.m. MT (9:00 a.m. ET). Investors can pre-register for the webcast via the company’s investor website to bypass live operator access. For those who haven't registered, they can join the call using provided phone numbers on the event day. The replay of the webcast will be available on the website two hours post-call and can be accessed until July 26, 2023, with a telephone replay available until May 27, 2023.
Pilgrim's Pride Corporation (NASDAQ: PPC) announced the pricing of its offering of $1.0 billion in senior unsecured notes due 2033, with a 6.250% interest rate. This offering is made under PPC's shelf registration statement and will be guaranteed by its domestic subsidiaries. The proceeds will primarily be used to repay outstanding term loans under its U.S. credit facility, with remaining funds allocated for general corporate purposes. Leading investment banks, including Barclays, BofA Securities, and others, are serving as joint-bookrunning managers for the offering.
Pilgrim's Pride Corporation (NASDAQ: PPC) announced its intention to offer senior unsecured notes under its automatic shelf registration statement. The proceeds will be primarily used to repay outstanding term loans under its U.S. credit facility, with any remaining funds allocated for general corporate purposes. The offering will be managed by a consortium of banks including Barclays Capital and BofA Securities. Notably, the offering is contingent upon market conditions and will not constitute an offer to sell securities in any jurisdiction where it would be unlawful prior to registration.