In this file:

 

         Pilgrimís Pride reports 27.3% revenue growth in Q2

         Pilgrimís reveals US investments, expansions during Q2

 

 

Pilgrimís Pride reports 27.3% revenue growth in Q2

 

Loveland Reporter-Herald and BizWest (CO)

July 29, 2022

 

Poultry company Pilgrimís Pride Corp. (Nasdaq: PPC) reported Thursday a 27.3% year-over-year increase in revenue for the second quarter of 2022, up to $4.63 billion from $3.95 billion in the second quarter of 2021.

 

Pilgrimís Pride also posted $362 million in net income after incurring a $166 million net loss in the second quarter of 2021. That comes out to earnings of $1.51 per share, up from a 68-cent loss per share a year ago.

 

This marks a continuation of the companyís strong 2022. At the end of the first quarter, it launched a $200 million stock buyback program ďgiven continued confidence in the growth potential of the business and its strong balance sheet position.Ē

 

And in February, The company also rejected an offer last month by JBS SA, which owns 80% of Pilgrimís Pride, to purchase its remaining shares...

 

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https://www.reporterherald.com/2022/07/29/pilgrims-pride-reports-27-3-revenue-growth-in-q2/

 

 

Pilgrimís reveals US investments, expansions during Q2

 

By Ryan McCarthy, Meat+Poultry

07.28.2022

 

GREELEY, COLO. Ė As part of its second quarter earnings report, Pilgrimís Pride Corp. announced that it would be making new investments in the US market.

 

Fabio Sandri, chief executive officer of Pilgrimís, said the investments included an expansion of the Athens, Ga., facility which would enhance service levels and support the growth of a key customer.

 

 

Pilgrimís reveals US investments, expansions during Q2

A chemical led to the evacuation of a Pilgrim's Pride poultry plant.

Source: Pilgrimís Pride Corp.

07.28.2022

By Ryan McCarthy

 

GREELEY, COLO. Ė As part of its second quarter earnings report, Pilgrimís Pride Corp. announced that it would be making new investments in the US market.

 

Fabio Sandri, chief executive officer of Pilgrimís, said the investments included an expansion of the Athens, Ga., facility which would enhance service levels and support the growth of a key customer.

 

ďIt also includes funding for operational excellence improvements via automation throughout our US footprint and construction of a protein conversion plant for pet food ingredients in Georgia,Ē he added.

 

Pilgrimís also committed to the development of a prepared foods facility in the Southeastern part of the United States.

 

ďTaken together, these investments will simultaneously enable sufficient capacity for top line growth with our key customers, enhance operating margins, create value for our shareholders, and provide opportunities for a better future for our team members,Ē Sandri said.

 

For the second quarter of 2022, Pilgrimís reported net sales of $4.63 billion, a 27.3% increase from $3.68 billion reported during the same 13-week period in fiscal 2021.

 

For the second quarter, Pilgrimís reported net income of $362.1 million, equal to $1.50 per share on the common stock, up from a reported loss of $166.7 million in 2021, or 68Ę per share, in the same period a year ago.

 

Operating income was at $512.9 million, compared to a loss of $123.1 million in operating income loss in 2021. The company, which is majority owned by JBS SA, reported operating income margins of 15.6% in the United States, 0.6% in Europe and 10.7% in Mexico.

 

ďThroughout the second quarter, we emphasized discipline and ownership throughout all aspects of our strategy and organization,Ē Sandri said. ďAs a result, second quarter sales grew over 27% and Adjusted EBITDA was up almost 68% from last year. I am continually impressed with our teamís determination to drive operational excellence to mitigate inflationary headwinds and work with key customers to profitably grow our business.Ē

 

Sandri noted the US results continue to reflect a diversified US portfolio...

 

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https://www.meatpoultry.com/articles/26981-pilgrims-reveals-us-investments-expansions-during-q2