Track market-moving stories before they get noisy

Key Takeaways Pilgrim's Pride's Q2 revenues are projected to rise 3% to $4.9 billion.Retail, foodservice, Prepared Foods and Just BARE demand likely supported PPC's sales growth.Higher chicken supply, weaker pricing and elevated freight and packaging costs may pressure PPC's margins. Pilgrim's Pride Corporation (PPC - Free Report) is likely to witness top-line growth when it reports second-quarter 2026 earnings on July 29. The Zacks Consensus Estimate for revenues is pegged at $4.9 billion, indicating an increase of 3% from the prior-year quarter’s reported figure.

However, the bottom line is likely to have remained soft. The consensus mark for earnings has declined 22.7% over the past 30 days to 75 cents a share, which suggests a decrease of 55.9% from the figure reported in the year-ago period. PPC has a trailing four-quarter negative surprise of 5.2%, on average.

Factors Likely to Influence PPC’s Upcoming ResultsPilgrim’s Pride’s second-quarter revenues are likely to have benefited from healthy chicken demand across retail and foodservice channels. Chicken’s affordability relative to beef likely continues to support consumption as value-conscious consumers prioritize lower-cost protein options. Growth in retail tray-pack offerings, Prepared Foods and branded products such as Just BARE is also likely to have supported the top line.

The Russellville facility conversion and Big Bird network enhancements may have improved the company’s ability to meet key customer demand and expand higher-value product offerings.

International operations have also been a driver. Europe has been seeing resilient demand for poultry and convenient meal offerings, while continued momentum in branded Fresh and Prepared Foods, supported by retail and quick-service restaurant demand, has been working well for Mexico.

However, profitability is expected to have remained under pressure despite higher sales. Increased U.S. chicken supply, weaker jumbo cutout values and soft deli small-bird pricing are likely to have weighed on margins. Mexico may have faced pressure from excess live-bird supply and imports. Costs associated with plant upgrades, production ramp-ups, and higher freight and packaging expenses are likely to have offset the benefits of stronger revenues.

Earnings Whispers for PPCOur proven model doesn’t conclusively predict an earnings beat for Pilgrim's Pride this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

 Pilgrim's Pride currently carries a Zacks Rank #5 (Strong Sell) and has an Earnings ESP of -20.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With the Favorable CombinationHere are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.

Archer-Daniels-Midland Company (ADM - Free Report) currently has an Earnings ESP of +11.52% and a Zacks Rank of 2. The consensus estimate for ADM’s quarterly revenues is pinned at $22.4 billion, which calls for 5.7% growth from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Archer-Daniels’ upcoming quarter’s EPS is pegged at $1.27, which implies a 36.6% rise year over year. ADM delivered a trailing four-quarter earnings surprise of 5.4%, on average.

Kimberly-Clark Corporation (KMB - Free Report) currently has an Earnings ESP of +2.70% and a Zacks Rank of 3. The Zacks Consensus Estimate for Kimberly-Clark’s upcoming quarterly revenues is pegged at $4.2 billion. The figure indicates a 1.7% increase from the prior-year quarter.

The Zacks Consensus Estimate for Kimberly-Clark’s quarterly earnings per share is pegged at $2.00, indicating a 4.2% gain from the year-ago period figure. KMB delivered a trailing four-quarter earnings surprise of 19.1%, on average.

Monster Beverage Corporation (MNST - Free Report) currently has an Earnings ESP of +2.61% and a Zacks Rank of 3. The consensus estimate for Monster Beverage’s quarterly revenues is pinned at $2.4 billion, which suggests 14.5% growth from the figure reported in the prior-year quarter.

The Zacks Consensus Estimate for the upcoming quarter’s EPS is pegged at 59 cents, which calls for a 13.5% jump year over year. MNST delivered a trailing four-quarter earnings surprise of 9.6%, on average.

In the latest close session, Pilgrim's Pride (PPC - Free Report) was down 2.09% at $28.55. The stock trailed the S&P 500, which registered a daily gain of 0.89%. Elsewhere, the Dow saw an upswing of 0.74%, while the tech-heavy Nasdaq appreciated by 1.29%.

Shares of the poultry producer have appreciated by 9.5% over the course of the past month, outperforming the Consumer Staples sector's gain of 2.44%, and the S&P 500's loss of 0.63%.

The upcoming earnings release of Pilgrim's Pride will be of great interest to investors. The company's earnings report is expected on July 29, 2026. The company is predicted to post an EPS of $0.75, indicating a 55.88% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.9 billion, up 3% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.01 per share and a revenue of $18.7 billion, representing changes of -41.78% and +1.09%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Pilgrim's Pride. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 14.51% fall in the Zacks Consensus EPS estimate. As of now, Pilgrim's Pride holds a Zacks Rank of #5 (Strong Sell).

Looking at valuation, Pilgrim's Pride is presently trading at a Forward P/E ratio of 9.7. This signifies a discount in comparison to the average Forward P/E of 11.89 for its industry.

The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

In the latest close session, Pilgrim's Pride (PPC - Free Report) was down 1.02% at $28.22. This change lagged the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.9%.

Shares of the poultry producer have depreciated by 1.83% over the course of the past month, underperforming the Consumer Staples sector's loss of 0.78%, and the S&P 500's gain of 1.27%.

The investment community will be paying close attention to the earnings performance of Pilgrim's Pride in its upcoming release. The company is slated to reveal its earnings on July 29, 2026. The company is expected to report EPS of $0.75, down 55.88% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $4.9 billion, showing a 3% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $3.01 per share and a revenue of $18.7 billion, demonstrating changes of -41.78% and +1.09%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 14.51% decrease. At present, Pilgrim's Pride boasts a Zacks Rank of #5 (Strong Sell).

Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 9.49. This denotes a discount relative to the industry average Forward P/E of 11.82.

The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 217, finds itself in the bottom 12% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

Pilgrim's Pride (PPC - Free Report) ended the recent trading session at $27.40, demonstrating a -4.76% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 1.09%, while the tech-heavy Nasdaq appreciated by 0.2%.

Heading into today, shares of the poultry producer had lost 3.26% over the past month, lagging the Consumer Staples sector's gain of 4% and the S&P 500's gain of 1.64%.

Investors will be eagerly watching for the performance of Pilgrim's Pride in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.75, indicating a 55.88% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.9 billion, indicating a 3% increase compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.01 per share and a revenue of $18.7 billion, signifying shifts of -41.78% and +1.09%, respectively, from the last year.

Investors might also notice recent changes to analyst estimates for Pilgrim's Pride. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 14.51% lower within the past month. Pilgrim's Pride presently features a Zacks Rank of #5 (Strong Sell).

Valuation is also important, so investors should note that Pilgrim's Pride has a Forward P/E ratio of 9.57 right now. This signifies a discount in comparison to the average Forward P/E of 11.97 for its industry.

The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 214, finds itself in the bottom 14% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Pilgrim's Pride (PPC - Free Report) ended the recent trading session at $28.95, demonstrating a +1.19% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.18%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 2.07%.

Shares of the poultry producer have appreciated by 1.06% over the course of the past month, underperforming the Consumer Staples sector's gain of 2.27%, and outperforming the S&P 500's loss of 2.9%.

Investors will be eagerly watching for the performance of Pilgrim's Pride in its upcoming earnings disclosure. In that report, analysts expect Pilgrim's Pride to post earnings of $0.97 per share. This would mark a year-over-year decline of 42.94%. Meanwhile, our latest consensus estimate is calling for revenue of $4.9 billion, up 3% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $3.52 per share and a revenue of $18.7 billion, demonstrating changes of -31.91% and +1.09%, respectively, from the preceding year.

Any recent changes to analyst estimates for Pilgrim's Pride should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pilgrim's Pride presently features a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, Pilgrim's Pride is holding a Forward P/E ratio of 8.14. For comparison, its industry has an average Forward P/E of 11.62, which means Pilgrim's Pride is trading at a discount to the group.

The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

Pilgrim's Pride (PPC - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this poultry producer have returned +2.4% over the past month versus the Zacks S&P 500 composite's +1.6% change. The Zacks Food - Meat Products industry, to which Pilgrim's Pride belongs, has gained 0.8% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current quarter, Pilgrim's Pride is expected to post earnings of $0.97 per share, indicating a change of -42.9% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $3.52 points to a change of -31.9% from the prior year. Over the last 30 days, this estimate has remained unchanged.

For the next fiscal year, the consensus earnings estimate of $3.66 indicates a change of +4.1% from what Pilgrim's Pride is expected to report a year ago. Over the past month, the estimate has remained unchanged.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #5 (Strong Sell) for Pilgrim's Pride.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Pilgrim's Pride, the consensus sales estimate of $4.9 billion for the current quarter points to a year-over-year change of +3%. The $18.7 billion and $19.2 billion estimates for the current and next fiscal years indicate changes of +1.1% and +2.7%, respectively.

Last Reported Results and Surprise HistoryPilgrim's Pride reported revenues of $4.53 billion in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.51 for the same period compares with $1.31 a year ago.

Compared to the Zacks Consensus Estimate of $4.5 billion, the reported revenues represent a surprise of +0.73%. The EPS surprise was -26.09%.

Over the last four quarters, Pilgrim's Pride surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Pilgrim's Pride is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pilgrim's Pride. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.

June 12, 2026 12:30 ET  | Source: Pilgrim's Pride Corporation

GREELEY, Colo., June 12, 2026 (GLOBE NEWSWIRE) -- Pilgrim’s today announced a strategic investment to expand and modernize its Ellijay, Georgia poultry facility, strengthening the company’s ability to meet evolving consumer preferences, support key customer growth, and enhance long-term operational excellence.

The approximately $75 million investment will increase harvesting and portioning capacity in Ellijay and enable the facility to produce a broader mix of higher-value, boneless chicken products — including those used in popular chicken sandwiches, tenders, and other fast-growing categories. This investment supports key customers’ growth plans, through a change in Pilgrim’s portfolio mix in Ellijay.

“As consumer demand shifts and our customers grow, we are investing to ensure our operations are positioned for the future,” said Fabio Sandri, CEO of Pilgrim’s. “Ellijay is a strong-performing facility with a talented team, and this expansion will allow us to optimize our portfolio, improve efficiency, and continue delivering high-quality products to our customers.”

Partial Transition of Chattanooga Operations

As part of this strategic shift, Pilgrim’s will close the aging harvesting portion of its Chattanooga, Tennessee operations. The company will continue to utilize Chattanooga’s deboning infrastructure to support nearby Ellijay’s expanded operations, ensuring continuity and service for existing customers.

There will be no impact on the grower base in the region, and Pilgrim’s will maintain service and quality levels for all customers, including those purchasing bone-in products, through its broader network of facilities.

Support for Team Members

Pilgrim’s is committed to supporting the 348 team members affected by the Chattanooga harvesting operations closure. The company will provide:

Eligibility for transfer to other Pilgrim’s locationsOpportunities to apply for open roles at facilities across the United StatesOn-site support and transition resourcesContinued engagement with local workforce partners and community stakeholders “We are grateful for the dedication of our impacted Chattanooga team members and are committed to helping them through this transition with care, respect and as many opportunities as possible,” said Sandri. “These decisions are among the most difficult we make because they affect people who have contributed so much to our success.”

Positioning for the Future

The Ellijay investment is part of Pilgrim’s broader strategy to modernize its operations, enhance product mix, and build a more resilient supply chain. By expanding capacity in a high-performing facility and aligning production with long-term consumer trends, Pilgrim’s is strengthening its ability to serve customers and compete in a dynamic marketplace.

About Pilgrim’s Pride

Pilgrim’s employs approximately 63,000 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, the Republic of Ireland and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors. For more information, please visit www.pilgrims.com.

Media Contact
Nikki Richardson
Corporate Communications
[email protected]

Generational wealth doesn't announce itself. It doesn't come with a viral moment or a TV segment. It usually comes from owning a piece of something that has kept growing over time, through recessions, through trade wars, through every market cycle, even as short-term considerations may have convinced other investors to sell. For example, back in the 1980s, Home Depot (HD +0.28%) was probably viewed as a boring little hardware store chain. But over the decades, it has behaved more like a growth stock, increasing in value by more than 10,000-fold. 

The three companies below aren't flashy. But each one is doing something structurally interesting that I think most investors haven't given much thought to. That's usually where opportunities lie for making investments that can deliver generational wealth.

Image source: Getty Images.

1. Church & Dwight is running one of the best brand incubators nobody talks about Most people who are aware of Church & Dwight (CHD 1.13%) will know it as the company that makes Arm & Hammer baking soda. That framing is about 20 years out of date.

Over the last four years, Church & Dwight has assembled one of the more interesting portfolios in the consumer goods space. Hero Cosmetics -- the acne patch brand it acquired in 2022 -- has expanded beyond its original product into a full Gen Z skincare line, with facial cleansers launching nationally in mid-2026, covering a range of acne consumer needs. TheraBreath, which the company acquired for $580 million in 2021 when international sales represented less than 10% of the brand's sales, is now being scaled as part of one of the company's three explicit long-term growth mandates.

At the Consumer Analyst Group of New York conference in February, CEO Rick Dierker laid out his roadmap for the company plainly: Grow Arm & Hammer sales from $2 billion to $3 billion, scale its oral care products business from $1 billion to $1.5 billion, and expand internationally from $1 billion to $2 billion. Those are operating priorities backed by a balance sheet that, following the divestiture of the vitamin business, has net debt down to 0.6 times normalized EBITDA.

The reason I think Church & Dwight is a generational holding is the model itself. It finds category-leading brands in underpenetrated spaces, acquires them at fair prices, and then uses its distribution infrastructure to take them global. Hero had almost no international presence when Church & Dwight bought it. TheraBreath had minimal international presence. The pattern is clear, and it works.

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2. Pilgrim's Pride has a brand that hit $1 billion before anyone was paying attention Pilgrim's Pride (PPC +0.54%) is one of the world's largest poultry producers. That sounds like a commodity business with low margins, cyclical patterns, and undifferentiated products. The Just Bare brand is why that framing is increasingly wrong.

According to the company's Feb. 19 press release, Just Bare -- its premium all-natural chicken brand -- surpassed $1 billion in annual retail sales in 2025, growing 45% year over year. The company described it as "the fastest sales momentum in the category."  Those results reflect a company successfully running a branded consumer foods playbook inside a business that most investors still price like a bulk processor.

The bet on Pilgrim's Pride isn't the chicken. It's whether Just Bare becomes what the company's prepared foods division grows around. Pilgrim's Pride has the distribution infrastructure to scale that brand significantly further. If it does, the market will eventually reprice the company, not as a commodity producer, but as a branded foods platform with a premium anchor brand.  

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3. Energizer Holdings controls a market nobody is racing into There's a reason Energizer Holdings (ENR +2.47%) doesn't get much coverage: Batteries are boring. Nobody is disrupting the alkaline battery market. No start-up is pivoting into AA cells. That is precisely what makes it an interesting long-term holding.

Last year, the company bought Advanced Power Solutions, a major manufacturer of Panasonic-brand batteries in Europe. On its fiscal 2026 Q1 earnings call, the company said its transition of customers from the Panasonic brand to Energizer was well underway, and expected to contribute more than $30 million of organic growth this year.

Three months earlier, in the fiscal Q4 earnings release, CEO Mark LaVigne said the company "delivered strong earnings in Fiscal 2025 by staying agile and focused in a volatile environment" -- and for fiscal 2026, pricing actions and production credits are expected to largely offset tariff-related headwinds while the APS integration adds incremental scale.

What most investors miss when it comes to this company is the structural nature of battery demand. Every connected device, every remote, every flashlight runs on batteries. The secular trend toward connected devices doesn't hurt Energizerbecause the company also operates across adjacent categories like automotive products, giving it multiple avenues for demand.

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Key Takeaways Pilgrim's Pride is converting a Big Bird commodity plant into a case-ready facility to support growth.Prepared foods sales remain solid, supported by strong branded performance across channels.Favorable chicken pricing drives chicken demand as competing protein costs rise significantly. As Pilgrim’s Pride Corporation (PPC - Free Report) prepares to unveil its first-quarter fiscal 2026 earnings on April 29, after market close, investors are eager to see if the company can beat market expectations.

The Zacks Consensus Estimate for revenues is pegged at $4.5 billion, implying 0.8% growth from the prior year. Meanwhile, the consensus mark for earnings has been steady at 69 cents per share in the past seven days, though it indicates a decline of 47.3% from the year-ago period. PPC has a trailing four-quarter earnings surprise of 2.3%, on average.

Key Factors to Observe for PPC's Q1 EarningsPilgrim's Pride has been benefiting from continued operational improvements across its segments, particularly within its Big Bird operations, where the company improved plant and live-operations efficiency. At the same time, the company is evolving its Fresh portfolio to support key customer growth. As part of this strategy, the company is converting a Big Bird commodity plant into a case-ready facility, a transition expected to enhance product offerings and better align operations with customer needs.

Prepared Foods has been a key growth driver, with sales increasing 18% year over year in the fourth quarter of 2025, supported by strong branded performance across both retail and foodservice channels as brand-building initiatives continued to gain traction. In addition, PPC’s focus on innovation, particularly in bold flavor profiles, has resonated with consumers, with products such as its Cheesy Jalapeno Nugget line receiving category recognition at the People’s Food Awards.

Favorable protein pricing dynamics are likely to have aided Pilgrim’s Pride. During the fourth quarter of 2025, chicken continued to offer a clear affordability advantage over competing proteins. While prices for certain chicken cuts softened, competing proteins, particularly ground beef, remained elevated. This widening price gap supported chicken demand as consumers continued to seek affordable protein options, driving volume growth across cuts, including boneless thighs.
That said, the company may have faced profitability pressure from headwinds related to commodity pricing.

What the Zacks Model Says About PPCOur proven model does not conclusively predict an earnings beat for PPC this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

PPC has an Earnings ESP of -16.79% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With Favorable CombinationHere are three companies you may also want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:

The Coca-Cola Company (KO - Free Report) has an Earnings ESP of +1.00% and currently carries a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter 2026 earnings per share is pegged at 81 cents, implying 11% year-over-year growth. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for quarterly revenues is pegged at $12.3 billion, which indicates an increase of 10.6% from the figure reported in the prior-year quarter. KO has a trailing four-quarter earnings surprise of 3.6%, on average.

Celsius Holdings, Inc. (CELH - Free Report) has an Earnings ESP of +3.81% and currently carries a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2026 earnings per share is pegged at 29 cents, implying a 61.1% year-over-year growth.

The Zacks Consensus Estimate for quarterly revenues is pegged at $755.2 million, which indicates an increase of 129.4% from the figure reported in the prior-year quarter. CELH has a trailing four-quarter earnings surprise of 9.4%, on average.

Constellation Brands, Inc. (STZ - Free Report) has an Earnings ESP of +2.44% and currently carries a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $3.24, implying 0.6% year-over-year growth.

The Zacks Consensus Estimate for quarterly revenues is pegged at $2.4 billion, which indicates a decline of 3.5% from the figure reported in the prior-year quarter. STZ has a trailing four-quarter earnings surprise of 7.1%, on average.

GREELEY, Colo., April 29, 2026 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ: PPC), one of the world's leading food companies, reports its first quarter 2026 financial results.

First Quarter Highlights

Net Sales of $4.5 billion.Consolidated GAAP Operating Income margin of 3.6%.GAAP Net Income of $101.5 million and GAAP EPS of $0.43. Adjusted Net Income of $121.7 million, and Adjusted EPS of $0.51.Adjusted EBITDA of $308.1 million, or a 6.8% margin, with Adjusted EBITDA margins of 7.0% in the U.S., 7.8% in Europe, and 3.1% in Mexico.The U.S. Fresh business implemented several projects during the quarter to upgrade product mix and enhance operational efficiencies in Big Bird, while growing Key Customer partnerships. Together, these projects will reinforce the foundation of future growth while reducing portfolio volatility and increasing returns. The impacts from plant downtime and ramp up from these projects, along with weakened commodity fundamentals and disruptions from weather events, contributed to reduced profitability compared to last year.U.S. Prepared Foods growth continues to accelerate, with record retail volumes. Just Bare® continues to resonate throughout the marketplace as retail sales increased nearly 40% versus last year. To support this growth, the construction of the new value-added facility in Walker County, Georgia, remains on schedule.Europe maintained steady results compared to last year given its balanced portfolio across proteins and meal occasions. Rollover® continued to outpace the category average, whereas Fridge Raiders® maintained a steady presence in snacking. Back-office integration and network optimization continues to improve productivity and support further growth.Mexico grew its branded portfolio across Fresh and Prepared Foods, increasing volumes by more than 10% compared to last year. Geographical diversification also continues with ramp up of production in the South and Peninsula areas. Improved growing conditions in the live markets and increased imports compressed margins versus the first quarter of 2025.Significantly surpassed the Scope 1 & 2 emissions intensity reduction targets required for the 2025 performance milestone specified in the Sustainability-Linked Bond.Maintained strong liquidity position to support future growth opportunities as net leverage ratio is currently 1.25x Adjusted EBITDA, below the target of 2x to 3x. (Unaudited) Three Months Ended  March 29, 2026 March 30, 2025 Y/Y Change  (In millions, except per share and percentages)Net sales $4,532.6  $4,463.0  +1.6%U.S. GAAP EPS $0.43  $1.24  (65.3)%Operating income $162.6  $404.5  (59.8)%Adjusted EBITDA(1) $308.1  $533.2  (42.2)%Adjusted EBITDA margin(1)  6.8%  12.0% (5.2)pts (1) Reconciliations for non-U.S. GAAP measures are provided in subsequent sections within this release.

“During the quarter, chicken demand continued to be healthy across all regions,” said Fabio Sandri, Pilgrim’s President and CEO. “Overall business fundamentals remained positive given chicken’s affordability, consumer momentum in retail and foodservice, and ample grain supplies. Equally important, we made significant progress on our growth and portfolio projects, reinforcing the foundation for a more resilient earnings profile.”

In the first quarter, U.S. Fresh completed the conversion of Russellville, Ala., to a Case Ready plant to support growth of a key customer and implemented multiple operational excellence projects in Big Bird. Margins were challenged compared to the prior year given planned plant downtime, impact of winter storms, lower values for deli small birds, and decline in commodity cutout fundamentals.

“Our operations underwent a significant amount of transition over the past several months,” said Sandri. “Not only will these investments reduce volatility of our portfolio, but they also further enhance our capabilities to meet growing demand from Key Customers in the upcoming months.”

Growth in U.S. Prepared Foods accelerated as value-added offerings expanded across retail and foodservice. Just Bare® retail sales rose nearly 40% compared to last year given increased distribution and velocity. Construction of the company’s new facility in Walker County, Ga., remains on track.

“Once complete, our Walker County facility will enhance margins and further drive sales growth for U.S. Prepared Foods,” Sandri commented. “It will also increase diversification within our U.S. business given our expansion in brands and valued-added products, ultimately creating more stable earnings.”

In Europe, a balanced portfolio maintained steady volume and margins compared to last year amid declining consumer confidence. Within grocery, poultry and meals grew faster than the category averages, and demand from Key Customers remained stable. Back-office integration and network optimization continues to improve productivity and support further growth.

“Europe’s performance reflects the benefits of diversification,” Sandri said. “As consumers became increasingly focused on value, many of our offerings throughout our portfolio were readily available to meet their needs across retail and foodservice.”

Mexico continues to execute strategies for profitable growth. In Fresh, branded sales volumes increased double digits compared to last year. Margins were compressed due to increased supply levels, especially in the live commodity market, which persisted throughout the quarter. The ramp up of live operations in the South and Peninsula regions and the new line prepared foods line in Porvenir began on schedule.

“Our investments in Mexico will drive growth and diversification through more value-added offerings and expanded geographic presence in the live commodity market,” said Sandri.

Pilgrim’s also exceeded the Scope 1 & 2 emission intensity reduction targets specified within the Sustainability-Linked Bond for 2025.  

“Our achievement in emissions intensity reduction reflects our long-standing focus on driving sustainability throughout our business,” concluded Sandri. “We are proud to announce the achievement of the initial Scope 1 & 2 emissions intensity reduction targets called for in the bond; and, we will continue to drive sustainability through improved efficiencies, ultimately creating opportunities and a better future for our team members.”

Conference Call Information

A conference call to discuss Pilgrim’s quarterly results will be held tomorrow, April 30, at 7 a.m. MT (9 a.m. ET). Participants are encouraged to pre-register for the conference call using the link below. Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.

To pre-register, go to: https://dpregister.com/sreg/10208065/103bf7759a7 

You may also reach the pre-registration link by logging in through the investor section of our website at
https://ir.pilgrims.com in the “Events & Presentations” section.

For those who would like to join the call but have not pre-registered, access is available by dialing +1 (844) 883-3889 within the US, or +1 (412) 317-9245 internationally, and requesting the “Pilgrim’s Pride Conference.”

Replays of the conference call will be available on Pilgrim’s website approximately two hours after the call concludes and can be accessed through the “Investor” section of www.pilgrims.com. 

About Pilgrim’s Pride

Pilgrim’s employs approximately 63,000 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, the Republic of Ireland and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors. For more information, please visit www.pilgrims.com. 

Forward-Looking Statements

Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. Without limiting the foregoing, words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “should,” “targets,” “will” and the negative thereof and similar words and expressions are intended to identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channels, including, but not limited to, the impacts of the Russia-Ukraine conflict; the risk of cyber-attacks, natural disasters, power losses, unauthorized access, telecommunication failures, and other problems on our information systems; and the impact of uncertainties of litigation and other legal matters described in our most recent Form 10-K and Form 10-Q, including the In re Broiler Chicken Antitrust Litigation, as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date of this release, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.

PILGRIM’S PRIDE CORPORATIONCONSOLIDATED BALANCE SHEETS       (Unaudited)    March 29, 2026 December 28, 2025  (In thousands)Cash and cash equivalents $542,415  $640,235 Trade accounts and other receivables, less allowance for credit losses  1,074,945   1,164,903 Accounts receivable from related parties  15,541   13,398 Inventories  2,029,589   2,031,259 Income taxes receivable  93,322   103,702 Prepaid expenses and other current assets  260,570   272,809 Assets held for sale  10,860   11,057 Total current assets  4,027,242   4,237,363 Deferred tax assets  30,300   31,211 Other long-lived assets  125,484   113,195 Operating lease assets, net  250,783   257,784 Intangible assets, net  809,556   832,066 Goodwill  1,317,054   1,338,884 Property, plant and equipment, net  3,642,269   3,533,027 Total assets $10,202,688  $10,343,530      Accounts payable $1,512,546  $1,588,569 Accounts payable to related parties  40,678   43,516 Revenue contract liabilities  32,646   37,622 Accrued expenses and other current liabilities  1,001,382   1,095,858 Income taxes payable  132,733   123,769 Current maturities of long-term debt  918   924 Total current liabilities  2,720,903   2,890,258 Noncurrent operating lease liabilities, less current maturities  193,040   199,315 Long-term debt, less current maturities  3,095,615   3,093,113 Deferred tax liabilities  441,867   452,326 Other long-term liabilities  14,770   14,787 Total liabilities  6,466,195   6,649,799 Common stock  2,631   2,627 Treasury stock  (544,687)  (544,687)Additional paid-in capital  2,029,686   2,023,609 Retained earnings  2,346,946   2,245,523 Accumulated other comprehensive loss  (111,791)  (47,022)Total Pilgrim’s Pride Corporation stockholders’ equity  3,722,785   3,680,050 Noncontrolling interest  13,708   13,681 Total stockholders’ equity  3,736,493   3,693,731 Total liabilities and stockholders’ equity $10,202,688  $10,343,530  PILGRIM’S PRIDE CORPORATIONCONSOLIDATED AND COMBINED STATEMENTS OF INCOME(unaudited)       Three Months Ended  March 29, 2026 March 30, 2025 (In thousands, except per share data)Net sales $4,532,633  $4,463,009 Cost of sales  4,187,143   3,908,136 Gross profit  345,490   554,873 Selling, general and administrative expense  180,169   133,779 Restructuring activities  2,765   16,612 Operating income  162,556   404,482 Interest expense, net of capitalized interest  37,847   41,738 Interest income  (6,870)  (24,953)Foreign currency transaction losses (gains)  922   (2,053)Miscellaneous, net  (1,163)  (692)Income before income taxes  131,820   390,442 Income tax expense  30,370   94,099 Net income  101,450   296,343 Less: Net income attributable to noncontrolling interests  27   310 Net income attributable to Pilgrim’s Pride Corporation $101,423  $296,033      Weighted average shares of common stock outstanding:    Basic  237,712   237,235 Effect of dilutive common stock equivalents  847   1,045 Diluted  238,559   238,280      Net income attributable to Pilgrim's Pride Corporation per share of common stock outstanding:    Basic $0.43  $1.25 Diluted $0.43  $1.24  PILGRIM’S PRIDE CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)       Three Months Ended  March 29, 2026 March 30, 2025  (In thousands)Cash flows from operating activities:    Net income $101,450  $296,343 Adjustments to reconcile net income to cash provided by operating activities:    Depreciation and amortization  118,481   104,518 Stock-based compensation  6,081   7,023 Deferred income tax benefit  (4,873)  (10,958)Loss on property disposals  2,023   900 Loan cost amortization  1,216   1,239 Accretion of discount related to Senior Notes  584   608 Asset impairment  —   589 Gain on early extinguishment of debt recognized as a component of interest expense  —   (107)Changes in operating assets and liabilities:    Trade accounts and other receivables  74,288   (91,504)Inventories  (16,027)  (64,233)Prepaid expenses and other current assets  10,208   (44,021)Accounts payable, accrued expenses and other current liabilities          (157,052)          (118,667)Income taxes  18,015   51,887 Long-term pension and other postretirement obligations  (1,196)  (1,414)Other operating assets and liabilities  (12,380)  (5,312)Cash provided by operating activities  140,818   126,891 Cash flows from investing activities:    Acquisitions of property, plant and equipment  (234,780)  (98,274)Business acquisitions  (3,073)  — Proceeds from property disposals  1,679   1,185 Cash used in investing activities  (236,174)  (97,089)Cash flows from financing activities:    Payments on revolving line of credit, long-term borrowings and finance lease obligations  (152)  (3,553)Cash used in financing activities  (152)  (3,553)Effect of exchange rate changes on cash and cash equivalents  (2,312)  8,060 Increase (decrease) in cash, cash equivalents and restricted cash  (97,820)  34,309 Cash, cash equivalents and restricted cash, beginning of period  640,235   2,043,158 Cash, cash equivalents and restricted cash, end of period $542,415  $2,077,467  PILGRIM’S PRIDE CORPORATION

Selected Financial Information

(Unaudited)

“EBITDA” is defined as the sum of net income plus interest, taxes, depreciation and amortization. “Adjusted EBITDA” is calculated by adding to EBITDA certain items of expense and deducting from EBITDA certain items of income that we believe are not indicative of our ongoing operating performance consisting of: (1) foreign currency transaction losses (gains), (2) costs related to litigation settlements, (3) restructuring activities losses, and (4) net income attributable to noncontrolling interest. EBITDA is presented because it is used by management and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of results prepared in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”), to compare the performance of companies. We believe investors would be interested in our Adjusted EBITDA because this is how our management analyzes EBITDA applicable to continuing operations. The Company also believes that Adjusted EBITDA, in combination with the Company’s financial results calculated in accordance with U.S. GAAP, provides investors with additional perspective regarding the impact of certain significant items on EBITDA and facilitates a more direct comparison of its performance with its competitors. EBITDA and Adjusted EBITDA are not measurements of financial performance under U.S. GAAP. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under U.S. GAAP. In addition, other companies in our industry may calculate these measures differently limiting their usefulness as a comparative measure. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as an alternative to net income as indicators of our operating performance or any other measures of performance derived in accordance with U.S. GAAP. These limitations should be compensated for by relying primarily on our U.S. GAAP results and using EBITDA and Adjusted EBITDA only on a supplemental basis.

PILGRIM'S PRIDE CORPORATIONReconciliation of Adjusted EBITDA(Unaudited)  Three Months Ended  March 29, 2026 March 30, 2025  (In thousands)Net income $101,450 $296,343 Add:    Interest expense, net(a)  30,977  16,785 Income tax expense  30,370  94,099 Depreciation and amortization  118,481  104,518 EBITDA  281,278  511,745 Add:    Foreign currency transaction losses (gains)(b)  922  (2,053)Litigation settlements(c)  23,194  7,250 Restructuring activities losses(d)  2,765  16,612 Minus:    Net income attributable to noncontrolling interest  27  310 Adjusted EBITDA $308,132 $533,244  (a) Interest expense, net, consists of interest expense less interest income. 
(b) Transactional functional currency gains/losses are included in the line item Foreign currency transaction losses (gains) in the Condensed Consolidated Statements of Income.
(c) This represents expenses recognized in anticipation of probable settlements in ongoing litigation.
(d) Restructuring activities losses are related to costs incurred, such as severance.

The summary unaudited consolidated income statement data for the 12 months ended March 29, 2026 (the LTM Period) have been calculated by subtracting the applicable unaudited consolidated income statement data for the three months ended March 30, 2025 from the sum of (1) the applicable audited consolidated income statement data for the year ended December 28, 2025 and (2) the applicable unaudited consolidated income statement data for the three months ended March 29, 2026.

PILGRIM'S PRIDE CORPORATIONReconciliation of LTM Adjusted EBITDA(Unaudited)   Three Months Ended    June 29, 2025 September 28,
2025 December 28,
2025 March 29, 2026 LTM Ended
March 29, 2026 (In thousands)Net income $356,009 $343,061 $87,931  $101,450 $888,451Add:          Interest expense, net  31,451  28,990  33,044   30,977  124,462Income tax expense  119,573  118,319  86,803   30,370  355,065Depreciation and amortization  113,504  116,426  121,709   118,481  470,120EBITDA  620,537  606,796  329,487   281,278  1,838,098Add:          Foreign currency transaction losses (gains)  4,892  5,169  (1,231)  922  9,752Litigation settlements  58,464  19,582  77,363   23,194  178,603Restructuring activities losses  3,499  1,779  9,464   2,765  17,507Minus:          Net income (loss) attributable to
noncontrolling interest  489  248  (62)  27  702Adjusted EBITDA $686,903 $633,078 $415,145  $308,132 $2,043,258 EBITDA margins have been calculated by taking the relevant unaudited EBITDA figures, then dividing by net sales for the applicable period. EBITDA margins are presented because they are used by management and we believe they are frequently used by securities analysts, investors and other interested parties, as a supplement to our results prepared in accordance with U.S. GAAP, to compare the performance of companies.

PILGRIM'S PRIDE CORPORATIONReconciliation of EBITDA Margin(Unaudited)   Three Months Ended Three Months Ended  March 29, 2026 March 30, 2025 March 29, 2026 March 30, 2025 (In thousands, except percent of net sales)Net income $101,450 $296,343  2.24% 6.64%Add:        Interest expense, net  30,977  16,785  0.68% 0.38%Income tax expense  30,370  94,099  0.67% 2.11%Depreciation and amortization  118,481  104,518  2.62% 2.34%EBITDA  281,278  511,745  6.21% 11.47%Add:        Foreign currency transaction
losses (gains)  922  (2,053) 0.02% (0.05)%Litigation settlements  23,194  7,250  0.51% 0.16%Restructuring activities losses  2,765  16,612  0.06% 0.37%Minus:        Net income attributable to
noncontrolling interest  27  310  —% 0.01%Adjusted EBITDA $308,132 $533,244  6.80% 11.94%         Net sales $4,532,633 $4,463,009      Adjusted EBITDA by segment figures are presented because they are used by management and we believe they are frequently used by securities analysts, investors and other interested parties, as a supplement to our results prepared in accordance with U.S. GAAP, to compare the performance of companies.

PILGRIM'S PRIDE CORPORATIONReconciliation of Adjusted EBITDA(Unaudited)                 Three Months Ended Three Months Ended March 29, 2026 March 30, 2025 U.S. Europe Mexico Total U.S. Europe Mexico Total (In thousands) (In thousands)Net income$41,834 $53,285  $6,331  $101,450 $222,296  $42,150  $31,897  $296,343 Add:               Interest expense, net(a) 33,863  (2,109)  (777)  30,977  25,567   (1,904)  (6,878)  16,785 Income tax expense 12,115  15,329   2,926   30,370  71,012   9,922   13,165   94,099 Depreciation and amortization 74,505  37,522   6,454   118,481  66,386   33,137   4,995   104,518 EBITDA 162,317  104,027   14,934   281,278  385,261   83,305   43,179   511,745 Add:               Foreign currency transaction losses (gains)(b) —  (970)  1,892   922  (1)  (372)  (1,680)  (2,053)Litigation settlements(c) 23,194  —   —   23,194  7,250   —   —   7,250 Restructuring activities losses(d) —  2,765   —   2,765  —   16,612   —   16,612 Minus:               Net income attributable to noncontrolling interest —  —   27   27  —   —   310   310 Adjusted EBITDA$185,511 $105,822  $16,799  $308,132 $392,510  $99,545  $41,189  $533,244  (a) Interest expense, net, consists of interest expense less interest income. 
(b) Transactional functional currency gains/losses are included in the line item Foreign currency transaction losses (gains) in the Condensed Consolidated Statements of Income.
(c) This represents expenses recognized in anticipation of probable settlements in ongoing litigation.
(d) Restructuring activities losses are related to costs incurred, such as severance.

Adjusted Operating Income is calculated by adding to Operating Income certain items of expense and deducting from Operating Income certain items of income. Management believes that presentation of Adjusted Operating Income provides useful supplemental information about our operating performance and enables comparison of our performance between periods because certain costs shown below are not indicative of our current operating performance. A reconciliation of GAAP operating income to adjusted operating income as follows:

PILGRIM'S PRIDE CORPORATIONReconciliation of Adjusted Operating Income(Unaudited)       Three Months Ended  March 29, 2026 March 30, 2025 (In thousands)GAAP operating income, U.S. operations $86,909  $318,806 Litigation settlements  23,194   7,250 Adjusted operating income, U.S. operations $110,103  $326,056      Adjusted operating income margin, U.S. operations  4.2%  11.9%       Three Months Ended  March 29, 2026 March 30, 2025 (In thousands)GAAP operating income, Europe operations $64,755  $49,071 Restructuring activities losses  2,765   16,612 Adjusted operating income, Europe operations $67,520  $65,683      Adjusted operating income margin, Europe operations  5.0%  5.3%       Three Months Ended  March 29, 2026 March 30, 2025 (In thousands)GAAP operating income, Mexico operations $10,892  $36,605 No adjustments  —   — Adjusted operating income, Mexico operations $10,892  $36,605      Adjusted operating income margin, Mexico operations  2.0%  7.5% Adjusted Operating Income Margin for each of our reportable segments is calculated by dividing Adjusted operating income by Net Sales. Management believes that presentation of Adjusted Operating Income Margin provides useful supplemental information about our operating performance and enables comparison of our performance between periods because certain costs shown below are not indicative of our current operating performance. A reconciliation of GAAP operating income margin for each of our reportable segments to adjusted operating income margin for each of our reportable segments is as follows:

PILGRIM'S PRIDE CORPORATIONReconciliation of GAAP Operating Income Margin to Adjusted Operating Income Margin(Unaudited)       Three Months Ended  March 29, 2026 March 30, 2025 (In percent)GAAP operating income margin, U.S. operations 3.3% 11.6%Litigation settlements 0.9% 0.3%Adjusted operating income margin, U.S. operations 4.2% 11.9%       Three Months Ended  March 29, 2026 March 30, 2025 (In percent)GAAP operating income margin, Europe operations 4.8% 4.0%Restructuring activities losses 0.2% 1.3%Adjusted operating income margin, Europe operations 5.0% 5.3%       Three Months Ended  March 29, 2026 March 30, 2025 (In percent)GAAP operating income margin, Mexico operations 2.0% 7.5%No adjustments —% —%Adjusted operating income margin, Mexico operations 2.0% 7.5% Adjusted net income attributable to Pilgrim's Pride Corporation ("Pilgrim's") is calculated by adding to net income attributable to Pilgrim's certain items of expense and deducting from net income attributable to Pilgrim's certain items of income, as shown below in the table. Adjusted net income attributable to Pilgrim’s Pride Corporation per common diluted share is presented because it is used by management, and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of results prepared in conformity with U.S. GAAP, to compare the performance of companies. Management also believe that this non-U.S. GAAP financial measure, in combination with our financial results calculated in accordance with U.S. GAAP, provides investors with additional perspective regarding the impact of such charges on net income attributable to Pilgrim’s Pride Corporation per common diluted share. Adjusted net income attributable to Pilgrim’s Pride Corporation per common diluted share is not a measurement of financial performance under U.S. GAAP, has limitations as an analytical tool and should not be considered in isolation or as a substitute for an analysis of our results as reported under U.S. GAAP. Management believes that presentation of adjusted net income attributable to Pilgrim’s provides useful supplemental information about our operating performance and enables comparison of our performance between periods because certain costs shown below are not indicative of our current operating performance. A reconciliation of net income attributable to Pilgrim’s Pride Corporation per common diluted share to adjusted net income attributable to Pilgrim’s Pride Corporation per common diluted share is as follows:

PILGRIM'S PRIDE CORPORATIONReconciliation of Adjusted Net Income(Unaudited)       Three Months Ended  March 29, 2026 March 30, 2025  (In thousands, except per share data)Net income attributable to Pilgrim's $101,423  $296,033 Add:    Foreign currency transaction losses (gains)  922   (2,053)Litigation settlements  23,194   7,250 Restructuring activities losses  2,765   16,612 Adjusted net income attributable to Pilgrim's before tax impact  128,304   317,842 Net tax impact of adjustments(a)  (6,599)  (5,278)Adjusted net income attributable to Pilgrim's $121,705  $312,564 Weighted average diluted shares of common stock outstanding  238,559   238,280 Adjusted net income attributable to Pilgrim's per common diluted share $0.51  $1.31  (a) Net tax impact of adjustments represents the tax impact of all adjustments shown above.

Adjusted EPS is calculated by dividing the adjusted net income attributable to Pilgrim's stockholders by the weighted average number of diluted shares. Management believes that Adjusted EPS provides useful supplemental information about our operating performance and enables comparison of our performance between periods because certain costs shown below are not indicative of our current operating performance. A reconciliation of U.S. GAAP to non-U.S. GAAP financial measures is as follows:

PILGRIM'S PRIDE CORPORATIONReconciliation of GAAP EPS to Adjusted EPS(Unaudited)       Three Months Ended  March 29, 2026 March 30, 2025  (In thousands, except per share data)U.S. GAAP EPS $0.43  $1.24 Add:    Foreign currency transaction losses (gains)  —   (0.01)Litigation settlements  0.10   0.03 Restructuring activities losses  0.01   0.07 Adjusted EPS attributable to Pilgrim's before tax impact  0.54   1.33 Net tax impact of adjustments(a)  (0.03)  (0.02)Adjusted EPS $0.51  $1.31      Weighted average diluted shares of common stock outstanding  238,559   238,280  (a) Net tax impact of adjustments represents the tax impact of all adjustments shown above.

PILGRIM'S PRIDE CORPORATIONSupplementary Geographic Data(Unaudited)       Three Months Ended  March 29, 2026 March 30, 2025  (In thousands)Sources of net sales by country of origin:    U.S. $2,635,398 $2,743,189Europe  1,351,744  1,231,529Mexico  545,491  488,291Total net sales $4,532,633 $4,463,009     Sources of cost of sales by country of origin:    U.S. $2,438,840 $2,355,567Europe  1,231,393  1,115,225Mexico  516,910  437,344Total cost of sales $4,187,143 $3,908,136     Sources of gross profit by country of origin:    U.S. $196,558 $387,622Europe  120,351  116,304Mexico  28,581  50,947Total gross profit $345,490 $554,873     Sources of operating income by country of origin:    U.S. $86,909 $318,806Europe  64,755  49,071Mexico  10,892  36,605Total operating income $162,556 $404,482

Pilgrim's Pride (PPC - Free Report) came out with quarterly earnings of $0.51 per share, missing the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -25.55%. A quarter ago, it was expected that this poultry producer would post earnings of $0.78 per share when it actually produced earnings of $0.68, delivering a surprise of -12.82%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Pilgrim's Pride, which belongs to the Zacks Food - Meat Products industry, posted revenues of $4.53 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.73%. This compares to year-ago revenues of $4.46 billion. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Pilgrim's Pride shares have lost about 15.7% since the beginning of the year versus the S&P 500's gain of 4.3%.

What's Next for Pilgrim's Pride?While Pilgrim's Pride has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Pilgrim's Pride was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.25 on $4.6 billion in revenues for the coming quarter and $4.14 on $18.5 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the bottom 15% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Tyson Foods (TSN - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 4.

This meat producer is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of -12%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Tyson Foods' revenues are expected to be $13.8 billion, up 5.6% from the year-ago quarter.

Key Takeaways PPC missed earnings estimates as adjusted EBITDA margin fell 520 basis points to 6.8%.Pilgrim's Pride saw strong Prepared Foods momentum, with Just Bare sales rising nearly 40%.PPC's Europe and Mexico businesses posted sales growth despite margin pressure and higher costs. Pilgrim’s Pride Corporation (PPC - Free Report) reported fiscal first-quarter 2026 results, wherein the top line increased year over year and came slightly ahead of the Zacks Consensus Estimate, while the bottom line saw a year-over-year decline and fell short of the consensus mark.

Pilgrim’s Pride’s Q1 Metrics in DetailPilgrim's Pride posted adjusted earnings of 51 cents per share, missing the Zacks Consensus Estimate of 69 cents. Also, the figure decreased from adjusted earnings of $1.31 per share in the year-ago quarter.

The company generated net sales of $4,532.6 million, which increased 1.6% from $4,463 million in the year-ago quarter. However, the top line came slightly higher than the Zacks Consensus Estimate of $4,500 million.

Pilgrim's Pride’s cost of sales was $4,187.1 million, which increased from $3,908.1 million reported in the year-ago quarter. Gross profit fell year over year to $345.5 million from $554.9 million in the prior year.

Selling, general and administrative expenses were $180.2 million compared with $133.8 million reported in the year-ago period.

The company reported an adjusted EBITDA of $308.1 million, down 42.2% from $533.2 million reported in the year-ago quarter. The adjusted EBITDA margin was 6.8%, a decrease of 520 basis points from 12% reported in the prior-year quarter. The operating income was $162.6 million, a year-over-year decline of 59.8% from $404.5 million.

Decoding PPC’s Segmental PerformanceU.S. operations reported net sales of $2,635.4 million, down from $2,743.2 million in the prior year. The adjusted operating income was $110.1 million compared with $326.1 million in the prior year, with an adjusted operating margin of 4.2% compared with 11.9% in the prior-year quarter. 

The U.S. Fresh segment advanced initiatives to improve product mix, operational efficiency, and key customer partnerships, strengthening long-term growth and stability. Meanwhile, U.S. Prepared Foods continued strong momentum with record retail volumes. The Just Bare brand delivered nearly 40% year-over-year sales growth, supported by the ongoing construction of a new value-added facility in Walker County, GA.

Europe operations delivered net sales of $1,351.7 million, up from $1,231.5 million in the prior-year period. The adjusted operating income was $67.5 million compared with $65.7 million in the prior year, while the adjusted operating margin declined slightly to 5% from 5.3% in the prior-year quarter.

The steady performance was supported by a balanced portfolio across proteins and meal occasions. Rollover outperformed its category, while Fridge Raiders maintained a stable position in the snacking segment. Ongoing back-office integration and network optimization initiatives continue to enhance productivity and support future growth.

Mexico operations reported net sales of $545.5 million, up from $488.3 million in the prior-year quarter, driven by more than 10% volume growth across its branded Fresh and Prepared Foods portfolio.

Expansion efforts continued through increased production in the South and Peninsula regions, supporting geographic diversification. However, improved growing conditions in live markets and higher imports led to margin compression compared to the first quarter of 2025. The adjusted operating income was $10.9 million, which decreased from $36.6 million in the prior year, with an adjusted operating margin of 2% compared with 7.5% in the prior-year quarter.

Other Financial Aspects of PPCPilgrim’s Pride ended the quarter with cash and cash equivalents of $542.4 million, long-term debt (less current maturities) of $3,095.6 million and total shareholders’ equity of $3,736.5 million. The company provided $140.8 million in cash from operating activities for the three months ended March 29, 2026.

This Zacks Rank #4 (Sell) stock has plunged 31.1% in the past three months compared with the industry’s 7% decline.

Image Source: Zacks Investment Research

Stocks to ConsiderSome better-ranked stocks have been discussed below:

Smithfield Foods, Inc. (SFD - Free Report) produces various packaged meats and fresh pork products in the United States and internationally. SFD currently sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

The Zacks Consensus Estimate for SFD's current fiscal-year sales and earnings implies growth of 1.1% and 7.5%, respectively, from the year-ago reported figures. SFD delivered a trailing four-quarter earnings surprise of 12%, on average.

Tyson Foods, Inc. (TSN - Free Report) operates as a food company and processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case-ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products.TSN currently carries a Zacks Rank #2.

The Zacks Consensus Estimate for TSN’s current fiscal-year sales implies growth of 4.4% and the same for earnings implies a decline of 4.1% from the year-ago actuals. TSN delivered a trailing four-quarter earnings surprise of 16.5%, on average.

B&G Foods, Inc. (BGS - Free Report) manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods and household products. BGS currently carries a Zacks Rank #2.

The Zacks Consensus Estimate for B&G Foods’ current fiscal-year earnings implies growth of 5.9% from the year-ago actuals. BGS delivered a trailing four-quarter negative earnings surprise of 19.5%, on average.

Pilgrim's Pride (PPC - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this poultry producer have returned -17.3% over the past month versus the Zacks S&P 500 composite's +9.5% change. The Zacks Food - Meat Products industry, to which Pilgrim's Pride belongs, has lost 2.6% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current quarter, Pilgrim's Pride is expected to post earnings of $1.14 per share, indicating a change of -32.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -8.8% over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $3.87 points to a change of -25.2% from the prior year. Over the last 30 days, this estimate has changed -10.1%.

For the next fiscal year, the consensus earnings estimate of $3.74 indicates a change of -3.4% from what Pilgrim's Pride is expected to report a year ago. Over the past month, the estimate has changed -8.6%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #5 (Strong Sell) for Pilgrim's Pride.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

For Pilgrim's Pride, the consensus sales estimate for the current quarter of $4.6 billion indicates a year-over-year change of -3.3%. For the current and next fiscal years, $18.5 billion and $18.7 billion estimates indicate +0% and +1.1% changes, respectively.

Last Reported Results and Surprise HistoryPilgrim's Pride reported revenues of $4.53 billion in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.51 for the same period compares with $1.31 a year ago.

Compared to the Zacks Consensus Estimate of $4.5 billion, the reported revenues represent a surprise of +0.73%. The EPS surprise was -26.09%.

Over the last four quarters, Pilgrim's Pride surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Pilgrim's Pride is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pilgrim's Pride. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.

Pilgrim's Pride (PPC - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Shares of this poultry producer have returned -14.1% over the past month versus the Zacks S&P 500 composite's +4% change. The Zacks Food - Meat Products industry, to which Pilgrim's Pride belongs, has lost 4.5% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Pilgrim's Pride is expected to post earnings of $0.97 per share for the current quarter, representing a year-over-year change of -42.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -22.8%.

The consensus earnings estimate of $3.52 for the current fiscal year indicates a year-over-year change of -31.9%. This estimate has changed -15.1% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $3.66 indicates a change of +4.1% from what Pilgrim's Pride is expected to report a year ago. Over the past month, the estimate has changed -6.9%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #5 (Strong Sell) for Pilgrim's Pride.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Pilgrim's Pride, the consensus sales estimate of $4.9 billion for the current quarter points to a year-over-year change of +3%. The $18.7 billion and $19.2 billion estimates for the current and next fiscal years indicate changes of +1.1% and +2.7%, respectively.

Last Reported Results and Surprise HistoryPilgrim's Pride reported revenues of $4.53 billion in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.51 for the same period compares with $1.31 a year ago.

Compared to the Zacks Consensus Estimate of $4.5 billion, the reported revenues represent a surprise of +0.73%. The EPS surprise was -26.09%.

Over the last four quarters, Pilgrim's Pride surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Pilgrim's Pride is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pilgrim's Pride. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.

A month has gone by since the last earnings report for Pilgrim's Pride (PPC - Free Report) . Shares have lost about 13.8% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Pilgrim's Pride due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Pilgrim's Pride Corporation before we dive into how investors and analysts have reacted as of late.

Pilgrim’s Pride Q1 Earnings Miss Estimates, Sales Grow About 1.6% Y/YPilgrim’s Pride Corporation reported fiscal first-quarter 2026 results, wherein the top line increased year over year and came slightly ahead of the Zacks Consensus Estimate, while the bottom line saw a year-over-year decline and fell short of the consensus mark.

Pilgrim’s Pride’s Q1 Metrics in DetailPilgrim's Pride posted adjusted earnings of 51 cents per share, missing the Zacks Consensus Estimate of 69 cents. Also, the figure decreased from adjusted earnings of $1.31 per share in the year-ago quarter.

The company generated net sales of $4,532.6 million, which increased 1.6% from $4,463 million in the year-ago quarter. However, the top line came slightly higher than the Zacks Consensus Estimate of $4,500 million.

Pilgrim's Pride’s cost of sales was $4,187.1 million, which increased from $3,908.1 million reported in the year-ago quarter. Gross profit fell year over year to $345.5 million from $554.9 million in the prior year.

Selling, general and administrative expenses were $180.2 million compared with $133.8 million reported in the year-ago period.

The company reported an adjusted EBITDA of $308.1 million, down 42.2% from $533.2 million reported in the year-ago quarter. The adjusted EBITDA margin was 6.8%, a decrease of 520 basis points from 12% reported in the prior-year quarter. The operating income was $162.6 million, a year-over-year decline of 59.8% from $404.5 million.

Decoding PPC’s Segmental PerformanceU.S. operations reported net sales of $2,635.4 million, down from $2,743.2 million in the prior year. The adjusted operating income was $110.1 million compared with $326.1 million in the prior year, with an adjusted operating margin of 4.2% compared with 11.9% in the prior-year quarter.

The U.S. Fresh segment advanced initiatives to improve product mix, operational efficiency, and key customer partnerships, strengthening long-term growth and stability. Meanwhile, U.S. Prepared Foods continued strong momentum with record retail volumes. The Just Bare brand delivered nearly 40% year-over-year sales growth, supported by the ongoing construction of a new value-added facility in Walker County, GA.

Europe operations delivered net sales of $1,351.7 million, up from $1,231.5 million in the prior-year period. The adjusted operating income was $67.5 million compared with $65.7 million in the prior year, while the adjusted operating margin declined slightly to 5% from 5.3% in the prior-year quarter.

The steady performance was supported by a balanced portfolio across proteins and meal occasions. Rollover outperformed its category, while Fridge Raiders maintained a stable position in the snacking segment. Ongoing back-office integration and network optimization initiatives continue to enhance productivity and support future growth.

Mexico operations reported net sales of $545.5 million, up from $488.3 million in the prior-year quarter, driven by more than 10% volume growth across its branded Fresh and Prepared Foods portfolio.

Expansion efforts continued through increased production in the South and Peninsula regions, supporting geographic diversification. However, improved growing conditions in live markets and higher imports led to margin compression compared to the first quarter of 2025. The adjusted operating income was $10.9 million, which decreased from $36.6 million in the prior year, with an adjusted operating margin of 2% compared with 7.5% in the prior-year quarter.

Other Financial Aspects of PPCPilgrim’s Pride ended the quarter with cash and cash equivalents of $542.4 million, long-term debt (less current maturities) of $3,095.6 million and total shareholders’ equity of $3,736.5 million. The company provided $140.8 million in cash from operating activities for the three months ended March 29, 2026.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -22.8% due to these changes.

VGM ScoresAt this time, Pilgrim's Pride has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock has a grade of A on the value side, putting it in the top 20% for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. It's no surprise Pilgrim's Pride has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.

Pilgrim's Pride (PPC - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Shares of this poultry producer have returned -10.6% over the past month versus the Zacks S&P 500 composite's +5.4% change. The Zacks Food - Meat Products industry, to which Pilgrim's Pride belongs, has lost 2.7% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Pilgrim's Pride is expected to post earnings of $0.97 per share for the current quarter, representing a year-over-year change of -42.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -15.4%.

For the current fiscal year, the consensus earnings estimate of $3.52 points to a change of -31.9% from the prior year. Over the last 30 days, this estimate has changed -9.1%.

For the next fiscal year, the consensus earnings estimate of $3.66 indicates a change of +4.1% from what Pilgrim's Pride is expected to report a year ago. Over the past month, the estimate has changed -2.1%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Pilgrim's Pride is rated Zacks Rank #5 (Strong Sell).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Pilgrim's Pride, the consensus sales estimate of $4.9 billion for the current quarter points to a year-over-year change of +3%. The $18.7 billion and $19.2 billion estimates for the current and next fiscal years indicate changes of +1.1% and +2.7%, respectively.

Last Reported Results and Surprise HistoryPilgrim's Pride reported revenues of $4.53 billion in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.51 for the same period compares with $1.31 a year ago.

Compared to the Zacks Consensus Estimate of $4.5 billion, the reported revenues represent a surprise of +0.73%. The EPS surprise was -26.09%.

Over the last four quarters, Pilgrim's Pride surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Pilgrim's Pride is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pilgrim's Pride. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.

PPC Ltd (PPCLY) Q4 2026 Earnings Call Transcript