Pilgrims Pride - PPC STOCK NEWS

Pilgrim's Pride Corporation (NASDAQ: PPC) is set to hold its annual meeting of shareholders on April 28, 2021, at 8 a.m. Mountain / 10 a.m. Eastern. The meeting will include a review of the fiscal year 2020 and other necessary business discussions. It will take place at Pilgrim's Pride headquarters in Greeley, Colorado. Pilgrim's Pride employs around 55,400 individuals and operates across 14 states, Puerto Rico, Mexico, the U.K., and Europe, primarily serving retailers and foodservice distributors.

Pilgrim's Pride Corporation (NASDAQ: PPC) announced the passing of board member Charles Macaluso, who contributed to the company for over a decade. CEO Fabio Sandri emphasized Macaluso's vital role in shaping the company's strategy and success. Serving as an independent board member since 2009, Macaluso was integral to the Audit Committee and had vast experience in finance. The board expresses deep condolences to his family, highlighting his commitment and impact on Pilgrim's progress.

Pilgrim’s Pride Corporation (NASDAQ: PPC) reported its Q4 and full-year 2020 results, highlighting a net GAAP income of $94.8 million despite challenges from the Covid-19 pandemic. The company achieved adjusted EBITDA of $788.1 million for the year, though full-year adjusted EBITDA decreased by 19.1%. Q4 net sales reached $3.1 billion, a 1.8% increase year-over-year. Key drivers included resilient U.S. performances and a strong rebound in Mexican operations. The company is optimistic about future growth, focusing on value-added specialty products while navigating market volatility.

Pilgrim’s Pride Corporation (NASDAQ: PPC) has appointed Matthew Galvanoni as global chief financial officer, effective March 15. With 26 years of finance experience, Galvanoni previously served as vice president of finance at Ingredion, overseeing financial operations for its $4 billion North American division. His extensive background includes roles at PricewaterhouseCoopers and Exelon Corporation. Pilgrim’s president Fabio Sandri emphasized the value of Galvanoni’s leadership and commitment to governance as the company aims for principled growth in the food industry.

Pilgrim's Pride Corporation (NASDAQ: PPC) will host its 2020 year-end earnings conference call on February 11, 2021, at 7:00 a.m. MT. The call will cover the company's financial and operational results, followed by a Q&A session with executive management. Investors can pre-register for the webcast on the company's website for immediate access. The call will also be available for replay on Pilgrim’s website two hours post-event until May 11, 2021. For telephone replay, participants can call +1 (877) 344-7529 in the US until March 11, 2021.

Pilgrim’s Pride Corporation (NASDAQ: PPC) reports Q3 2020 financial highlights with net sales of $3.08 billion, reflecting a 10.7% year-over-year increase. Adjusted net income stood at $161.7 million, or $0.66 per share. The U.S. operating income margin improved to 6.7% excluding the DOJ agreement, while adjusted EBITDA reached $305.0 million with a 9.9% margin. Notably, Mexico achieved one of its strongest Q3 results in history. The company emphasizes commitment to employee safety and community support, with a $20 million investment through its “Hometown Strong” initiative.

Pilgrim’s Pride Corporation (NASDAQ: PPC) announced a plea agreement with the U.S. Department of Justice involving a fine of $110,524,140 for antitrust violations linked to broiler chicken sales. This agreement resolves the ongoing investigation and does not require a monitor, restitution, or probation. Pilgrim's plans to record the fine as a miscellaneous expense in Q3 2020. CEO Fabio Sandri emphasized the company's commitment to fair competition and the certainty this agreement brings to stakeholders.

Pilgrim’s Pride Corporation (NASDAQ: PPC) is set to host its Q3 2020 earnings conference call on October 29, 2020, at 7:00 a.m. MT (9:00 a.m. ET). The event will feature prepared remarks on financial and operational results, followed by a Q&A session with the management team. Investors can pre-register for the webcast through the company’s website for immediate access. A replay will be available two hours post-call until January 29, 2021. Pilgrim’s Pride employs approximately 58,200 people across various locations, including the U.S. and Europe.

Pilgrim's Pride Corporation (NASDAQ: PPC) reported second quarter 2020 financial results, with net sales of $2.82 billion and a net GAAP loss of $6 million. Operating income margins were 2.2% in the U.S., -13.3% in Mexico, and 3.1% in Europe. Adjusted EBITDA stood at $112.2 million, reflecting a 4.0% margin. Despite the challenges posed by the Covid-19 pandemic, the company noted improvement in market performance by June 2020, particularly in the U.S. and Europe, while navigating volatility and adverse conditions in Mexico. The company's liquidity remains strong, backed by cash flow generation and disciplined investments.