Pilgrim’s Pride posts US$296M in net income growth

USA – Pilgrim’s Pride Corp. is reporting a strong financial performance in the first quarter ending March 30, with net income rising to US$296.35 million (US$1.25 per share), up from US$174.9 million (74¢ per share) during the same period in 2024.

Total net sales reached US$4.46 billion, reflecting a 2% increase from US$4.36 billion a year earlier.

Adjusted net income for the quarter stood at US$312.6 million, while adjusted earnings per share came in at US$1.31.

The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to US$533.2 million, representing a 12% margin and marking a 43.4% year-on-year improvement.

According to CEO Fabio Sandri, the quarter was marked by volatility, but the company remained focused on execution and building customer relationships through varied offerings across different regions.

In the U.S. market, the fresh poultry division benefited from seasonal pricing trends and production gains in the Big Bird category.

Meanwhile, Pilgrim’s Case Ready and Small Bird segments saw distribution gains with retail chains, delis, and quick-service restaurants.

The company also reported an expansion in its Prepared Foods range, particularly in products for retail and foodservice channels.

Sandri attributed some of the company’s momentum to steady consumer demand for chicken, citing its cost-effectiveness and ease of preparation compared to other proteins.

He added that their broad product range helped them take advantage of favorable pricing in the commodity markets, while also deepening ties with clients through consistent service and quality.

Europe sees margin growth, Mexico investment continues

In Europe, Pilgrim’s Pride reported an adjusted EBITDA margin of 8.1%, an increase of more than 150 basis points compared to the previous year.

The company said its European business is gaining traction through branded products and new innovations aimed at consumer needs.

Sandri said they are increasing collaboration with retail partners while expanding product development initiatives.

Turning to its operations in Mexico, Pilgrim’s confirmed that construction to expand fresh poultry capacity in the Veracruz and Merida areas remains on schedule, with completion expected in the first half of 2026.

The company views the Mexican market as a long-term growth area and plans to continue investing in efficiency and customer-focused strategies.

On sustainability, Pilgrim’s said third-party evaluations show that its Scope 1 and 2 emissions intensity has already fallen below its set targets.

Looking ahead, Sandri said the company will pursue ways to make its supply chain more resilient to climate risks.

Chief Financial Officer Matt Galvanoni noted that capital expenditures for the first quarter amounted to US$98 million, with full-year spending projected to reach approximately US$750 million.

He added that investment decisions will remain closely aligned with the company’s growth and margin strategies while aiming to reduce earnings volatility.

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