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 | Source: Pilgrim's Pride Corporation

GREELEY, Colo., Sept. 09, 2026 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ: PPC) (the “Company” or “Pilgrim’s Pride”) and Pilgrim’s Europe Finance PLC, a wholly owned subsidiary of the Company incorporated under the laws of England and Wales (together with the Company, the “Issuers”), announced today the pricing of their offering of €500 million aggregate principal amount of 4.750% senior notes due 2034 (the “Notes”).The sale of the Notes is expected to close on September 23, 2026, subject to customary closing conditions.

The Issuers intend to use the net proceeds from the offering for general corporate purposes, including to fund the consideration in connection with the Company’s recently announced acquisition of Walkers Deli & Sausage Company (the “Walkers Acquisition”) and to pay costs and expenses related thereto. The offering is not conditioned on the closing of the Walkers Acquisition.

The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of any offering document.

About Pilgrim’s Pride

The Company 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.

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 negatives 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: whether or not the Issuers will offer the Notes or consummate the offering; the final terms of the offering; 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 with the Company’s information systems; and the impact of uncertainties of litigation and other legal matters described in the Company’s most recent Annual Report on Form 10-K and Quarterly Report on 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, and Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.

Media Contacts:
Nikki Richardson
Head of Communications
[email protected]

Andrew Rojeski
Head of Strategy, Investor Relations, & Sustainability
[email protected]
www.pilgrims.com

Canada Pension Plan Investment Board purchased a new position in Pilgrim’s Pride Corporation (NASDAQ:PPC – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,500 shares of the company’s stock, valued at approximately $548,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Pilgrim’s Pride during the 2nd quarter valued at $138,936,000. AQR Capital Management LLC raised its position in shares of Pilgrim’s Pride by 59.3% in the second quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company’s stock worth $169,852,000 after buying an additional 1,405,251 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Pilgrim’s Pride by 1,196.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 813,815 shares of the company’s stock valued at $31,731,000 after buying an additional 751,042 shares during the period. Dimensional Fund Advisors LP boosted its stake in Pilgrim’s Pride by 27.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,418,398 shares of the company’s stock valued at $133,296,000 after buying an additional 742,204 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in Pilgrim’s Pride during the third quarter worth about $26,501,000. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Price Performance PPC opened at $31.12 on Thursday. The company has a current ratio of 1.36, a quick ratio of 0.62 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $7.41 billion, a P/E ratio of 13.53 and a beta of 0.27. The stock has a 50-day moving average price of $28.94 and a 200-day moving average price of $32.16. Pilgrim’s Pride Corporation has a 12-month low of $25.90 and a 12-month high of $44.87.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.70 billion. Pilgrim’s Pride had a return on equity of 21.70% and a net margin of 2.96%.The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.70 EPS. Equities analysts predict that Pilgrim’s Pride Corporation will post 2.35 earnings per share for the current fiscal year. Analyst Upgrades and Downgrades A number of brokerages have weighed in on PPC. Weiss Ratings lowered Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. UBS Group cut their price objective on Pilgrim’s Pride from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Finally, Bank of America decreased their price objective on shares of Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.50.

Check Out Our Latest Research Report on PPC

Pilgrim’s Pride Profile (Free Report)

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.

Read More Five stocks we like better than Pilgrim’s Pride Striking Oil: How the U.S. Play for Venezuela Fuels Supermajors J.M. Smucker Stock’s Rally Has More Than Tariffs Behind It Wendy’s Rally Fades After Trian Steps Back: Was It Ever Real? GitLab’s Earnings Beat Just Gave Software Bulls a New SaaSpocalypse Test Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim’s Pride Corporation (NASDAQ:PPC – Free Report).

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BlackRock Inc. bought a new position in Pilgrim’s Pride Corporation (NASDAQ:PPC – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,942,584 shares of the company’s stock, valued at approximately $138,936,000. BlackRock Inc. owned about 2.08% of Pilgrim’s Pride at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position in Pilgrim’s Pride by 1.3% during the second quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock valued at $801,000 after acquiring an additional 230 shares during the last quarter. Commerce Bank lifted its stake in shares of Pilgrim’s Pride by 4.4% in the 4th quarter. Commerce Bank now owns 5,792 shares of the company’s stock worth $226,000 after purchasing an additional 246 shares during the period. HB Wealth Management LLC grew its position in Pilgrim’s Pride by 5.1% during the fourth quarter. HB Wealth Management LLC now owns 5,939 shares of the company’s stock valued at $232,000 after buying an additional 290 shares during the period. Quarry LP increased its holdings in Pilgrim’s Pride by 30.5% during the fourth quarter. Quarry LP now owns 1,248 shares of the company’s stock valued at $49,000 after buying an additional 292 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Pilgrim’s Pride by 0.9% in the second quarter. California State Teachers Retirement System now owns 43,476 shares of the company’s stock worth $1,956,000 after acquiring an additional 380 shares during the period. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets A number of equities analysts recently commented on PPC shares. Weiss Ratings cut Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Barclays raised Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $45.00 to $42.00 in a research report on Friday, May 1st. Bank of America decreased their target price on shares of Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Finally, UBS Group dropped their price target on shares of Pilgrim’s Pride from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.50.

Get Our Latest Analysis on PPC Pilgrim’s Pride Stock Up 1.9% Shares of NASDAQ:PPC opened at $31.69 on Friday. The firm has a market capitalization of $7.55 billion, a PE ratio of 13.78 and a beta of 0.29. The business has a 50 day simple moving average of $28.70 and a two-hundred day simple moving average of $32.48. Pilgrim’s Pride Corporation has a 1 year low of $25.90 and a 1 year high of $45.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.36 and a quick ratio of 0.62.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). Pilgrim’s Pride had a return on equity of 21.70% and a net margin of 2.96%.The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the business posted $1.70 earnings per share. Pilgrim’s Pride’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts predict that Pilgrim’s Pride Corporation will post 2.35 EPS for the current year.

(Free Report)

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.

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Halper Sadeh LLC, an investor rights law firm, is investigating the proposed sale of Pilgrim's Pride Corporation (NASDAQ: PPC) to JBS N.V. for 2.086 JBS Class A

Subject to Approval of Independent and Disinterested Special Committee of PPC Board of Directors and Votes Cast by Holders of the Majority of Unaffiliated PPC Shares

AMSTELVEEN, Netherlands--(BUSINESS WIRE)--JBS N.V. (“JBS,” “we” or “us”) (NYSE: JBS; B3: JBSS32) today announced that it has submitted a non-binding proposal to the Board of Directors of Pilgrim’s Pride Corporation (NASDAQ: PPC) (“PPC”) to acquire all of the outstanding shares of common stock of PPC that are not owned by JBS or its affiliates for a fixed exchange ratio of 2.086 JBS Class A common shares for each PPC share of common stock (the “Proposed Transaction”), based on the JBS and PPC closing share prices on August 18, 2026 of $13.66 and $28.49, respectively. JBS currently owns approximately 82% of PPC’s common stock.

Jeremiah O’Callaghan, Chairman of the JBS Board of Directors, said, “For over 16 years, JBS and PPC have worked together as PPC has expanded its operations, strengthened its global presence and significantly grown revenue. We believe this proposal offers PPC stockholders the opportunity to continue participating in PPC’s future performance through ownership of JBS shares, with exposure to a larger and more diversified global business. Our long-standing relationship with PPC and familiarity with its team and operations should support continuity for employees, customers and business partners throughout the process. We look forward to engaging constructively with the special committee of PPC’s board of directors and its advisors as they evaluate the proposal.”

JBS believes the business combination offers potential benefits to PPC stockholders, including, among others:

Continued participation in PPC’s performance: PPC stockholders will benefit from continued participation in PPC’s business performance as part of a larger, more diversified global multi-protein and prepared foods platform. Simplified organizational structure: PPC stockholders would participate, through their ownership of JBS shares, in the potential benefits of a simplified organizational structure, including savings resulting from the elimination of PPC’s standalone public company costs and more flexible and efficient capital allocation across the group. Access to greater trading liquidity of JBS Class A common shares: PPC stockholders would receive shares of JBS, which has a larger market capitalization and broader institutional investor base than PPC’s current minority public float. Proposed Transaction Details

The Proposed Transaction is subject to the approval of a special committee of independent and disinterested directors expected to be appointed by the PPC Board of Directors, advised by independent legal and financial advisors.

In addition, JBS expects that the Proposed Transaction will also require the approval of a majority of the votes cast by the shares of PPC common stock that are not owned by JBS or its affiliates, as well as customary closing conditions. The Proposed Transaction does not require approval by JBS shareholders. Following completion of the Proposed Transaction, shares of PPC common stock would no longer be quoted on Nasdaq and shares of PPC common stock would be deregistered.

Advisors

Citi is serving as financial advisor, White & Case LLP is serving as legal advisor and Collected Strategies is serving as strategic communications advisor to JBS.

Forward-Looking Statements

This communication contains certain statements that are not historical facts and are forward-looking statements within the meaning of the U.S. federal securities laws with respect to a proposal which JBS has made to acquire all of the outstanding shares of common stock of PPC that are not owned by JBS or its affiliates (the “Proposed Transaction”), including, without limitation, statements regarding the anticipated benefits of the Proposed Transaction to PPC stockholders. These forward-looking statements generally are identified by the words “estimate,” “project,” “forecast,” “plan,” “believe,” “may,” “expect,” “anticipate,” “intend,” “planned,” “potential,” “could,” “will” and similar terms, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: uncertainties as to whether an agreement in respect of the Proposed Transaction will be negotiated and executed; uncertainties as to whether PPC will cooperate with JBS regarding the Proposed Transaction and whether PPC’s board of directors and any special committee thereof will endorse the Proposed Transaction; uncertainties as to whether the other conditions to the Proposed Transaction will be satisfied; the timing of the Proposed Transaction and whether the Proposed Transaction will be completed; failure to realize contemplated synergies and other benefits from the Proposed Transaction; incurrence of significant costs in connection with the Proposed Transaction; changes in general economic conditions, the global protein and prepared foods industries, stock market trading conditions, foreign exchange rates, tax law requirements, or government regulation; and changes in the market position, businesses, financial condition, results of operations or prospects of JBS and/or PPC. The foregoing list of factors is not exhaustive. Additional information concerning these and other factors can be found in JBS’s and PPC’s filings with the U.S. Securities and Exchange Commission (“SEC”), including JBS’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 20-F and Current Reports on Forms 8-K and 6-K, which may be obtained free of charge from JBS’s website https://ir.jbsglobal.com/ and PPC’s most recent Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which may be obtained free of charge from PPC’s website https://ir.pilgrims.com/. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof, and JBS undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

No Offer or Solicitation

This communication shall not constitute an offer to buy or the solicitation of an offer to sell any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information and Where to Find It

This communication relates to the Proposed Transaction. In furtherance of this Proposed Transaction and subject to future developments, JBS and, if a negotiated transaction is agreed, PPC, as applicable, may file a registration statement, a proxy statement, a tender offer statement or other documents with the SEC. This communication is not a substitute for any registration statement, proxy statement, tender offer statement or other document JBS and/or PPC may file with the SEC in connection with the Proposed Transaction.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT OR TENDER OFFER STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY, IF AND WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT JBS, PPC AND THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain copies of these documents (if and when available) and other documents filed with the SEC by JBS and/or PPC free of charge at www.sec.gov or from JBS.

Participants in Solicitation

This communication is neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC should the Proposed Transaction go forward. Nonetheless, JBS and its affiliates and their directors and executive officers and certain employees may be deemed to be participants in the solicitation of proxies from the holders of PPC common stock with respect to the Proposed Transaction. Information about such parties and a description of their interests will be included in the materials that JBS expects will be filed by JBS and/or PPC with the SEC should the Proposed Transaction go forward. These documents (if and when available) may be obtained free of charge from the SEC’s website http://www.sec.gov or from JBS’s website https://ir.jbsglobal.com/.

More News From JBS N.V.

Brazil's JBS , the world's largest meatpacker, on Tuesday proposed acquiring the remaining shares of ​Pilgrim's Pride <PPC.O>, seeking full control of the U.S. ‌poultry producer.

Here are more details:

JBS said it offered 2.086 JBS Class A shares for each Pilgrim's Pride share ​at Tuesday's closing rates. That represented an offer ​of $28.49 per Pilgrim's share.

JBS shares closed at $13.66 ⁠on Tuesday, while Pilgrim's Pride traded at $28.49. ​Both stocks were up near 1% in extended ​trading.

The meatpacker already owns about 82% of Pilgrim's Pride, which has a market cap of about $6.78 billion.

The proposal is subject ​to review and approval by a committee of ​Pilgrim's Pride independent directors, and by minority shareholders.

The proposal comes ‌days ⁠after JBS agreed to form a joint venture with Indonesia's sovereign wealth fund, Danantara, to pursue protein production investments across multiple countries. It also follows ​Pilgrim's Pride's ​agreement to ⁠acquire Walker's Deli & Sausage Company for about $142 million.

Earlier this month, JBS ​reported an unexpected quarterly net loss, weighed down ​by ⁠an antitrust settlement and debt tender offers as its U.S. beef business faced tight cattle supplies. ⁠Pilgrim's ​Pride, meanwhile, reported lower quarterly ​sales last month due to softer chicken demand.

Subject to Competition and Markets Authority approval  | Source: Pilgrim's Pride Corporation

GREELEY, Colo., Aug. 17, 2026 (GLOBE NEWSWIRE) -- Pilgrim's Europe today announced it has agreed to acquire Walkers Deli & Sausage Company from Samworth Brothers, subject to approval by the Competition and Markets Authority (CMA) and employee consultation in the United Kingdom.

Walkers is one of the UK's most established and respected producers of premium pork products, with a heritage dating back to 1824. The business operates from four production facilities on a single site in Leicester and employs approximately 1,150 team members.

The acquisition represents an important strategic step for Pilgrim's Europe, strengthening its position within the UK food industry and expanding its presence in value-added premium pork categories. It also enhances Pilgrim's footprint in the UK and builds on an existing long-standing relationship between the two businesses, with Pilgrim's currently supplying some of Walkers' raw pork requirements.

Fabio Sandri, CEO of Pilgrim’s, said:

“The addition of Walkers further advances our strategy to grow through a diversified portfolio of value-added food businesses in key markets around the world. This transaction strengthens our European platform, expands our capabilities in value-added foods and supports our long-term growth ambitions. We are excited about the opportunities ahead and confident this acquisition will strengthen our business and create long-term value for our customers, team members and shareholders.”

Walkers has a highly complementary portfolio spanning premium sausages, sliced cooked meats, cooked bacon and snacking products, and pâté. The business serves leading UK retailers and is recognised for its expertise in premium own-label food production.

Ivan Siqueira, President of Pilgrim's Europe, said:

“Walkers is a fantastic business with a proud heritage, a highly skilled team and a strong reputation for quality and innovation. This acquisition is a natural strategic fit for Pilgrim's Europe. We already have a well-established supply relationship with Walkers and see significant opportunities to build on the strengths of both businesses.

By bringing Walkers into Pilgrim's Europe, we will further strengthen our integrated supply chain, expand our presence in attractive premium pork categories and enhance our ability to serve customers across the UK. We are excited about the opportunities ahead and look forward to welcoming Walkers' colleagues to the Pilgrim's family following completion of the transaction.”

Samworth Brothers Chief Executive, Simon Wookey added:

“Walkers is an outstanding business that has made a significant contribution to Samworth Brothers over many years. As the protein sector has become increasingly specialised and integrated, we believe Walkers is well positioned for its next phase of growth as part of a business with protein at its core and expertise across the supply chain.

This transaction enables Samworth Brothers to focus investment on the significant growth opportunities we see across Food to Go, Savoury Pastry, Meals and our portfolio of Brands. We are incredibly proud of what our Walkers colleagues have built and grateful for their contribution. We are confident this move provides a strong platform for the business's future success.”

The immediate priority following completion will be to support Walkers Deli & Sausage colleagues through the transition, while maintaining the high levels of service and quality that customers expect.

Together, Pilgrim's Europe and Walkers Deli & Sausage will be well positioned to drive innovation, enhance operational efficiencies, and continue delivering high-quality products to consumers across the UK.

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 UK, 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.

About Pilgrim's Europe
Pilgrim’s Europe is a top UK and European food company employing 17,000+ team members across 40+ sites in the UK, Ireland, France and The Netherlands. We are a leader in making quality food sustainably in partnership with local farmers through our Poultry, Pork, Lamb and Beef supply chains.

Driven by passion and insight, we create better food for everyone, producing own label and branded fresh chicken, pork and lamb, as well as authentic chilled and frozen ready meals, snacking ranges, added value and food service products for multiple markets.

Our iconic brands include, Richmond, Fridge Raiders, Mattessons, Rollover, Oakhouse Denny, Galtee, and Moy Park.

About Samworth Brothers
At Samworth Brothers we do good things with great food. We are a fourth-generation family business manufacturing high quality and ambient food enjoyed by millions of people in the UK and Ireland every day. We have a turnover of £1.8bn, with more than 12,000 colleagues working at sites all over the UK, including Leicestershire, Cornwall, East Sussex and Manchester, and also in Dublin, Ireland. Our customers include major supermarkets, convenience stores, hospitality venues, workplaces and travel outlets.

As a business we seek to be a long-term force for good. We make profit so that we can reinvest in the future of the business and make a positive difference for our people, our communities, and all of our stakeholders.

Media Contact:
Nikki Richardson
[email protected]

Pilgrim's Pride (PPC) is the leading US poultry pure-play, recently suffering a 50% share price decline amid cyclical oversupply pressures. PPC's Q2 saw operating income fall nearly 90% YoY, with margins halved due to a 4.5% YoY increase in US poultry production outpacing demand. I initiate coverage with a Buy, citing PPC's sub-10x normalized earnings multiple, sound balance sheet, and strategic investment in less commoditized segments.

Key Takeaways Pilgrim's Pride missed Q2 sales and earnings estimates as lower U.S. commodity pricing pressured results.PPC saw Just Bare retail sales rise more than 30%, supporting prepared foods growth and market share gains.PPC faced margin pressure across the U.S., Europe and Mexico despite volume growth in key businesses. Pilgrim’s Pride Corporation (PPC - Free Report) reported second-quarter 2026 results, wherein both the top and bottom lines decreased year over year. Both metrics fell short of the Zacks Consensus Estimate.

Pilgrim’s Pride’s Q2 Metrics in DetailPPC posted adjusted earnings of 64 cents per share, down 62.4% year over year from $1.70 per share. The metric came below the Zacks Consensus Estimate of 75 cents.

Net sales declined 2.8% year over year to $4,626.2 million from $4,757.4 million, missing the consensus estimate of $4,900 million. Declining U.S. commodity pricing weighed on results, while Just Bare retail sales growth of more than 30% offered support.

PPC’s Margin & Cost PerformanceGross profit fell 52.5% year over year to $339.8 million, down from $715.3 million, as cost of sales rose from $4,042.1 million in the prior-year period to $4,286.5 million.

Selling, general and administrative expenses increased 32.9% year over year to $265.1 million, from $199.5 million in the previous year period.

Adjusted EBITDA declined 47.6% year over year to $360 million from $686.9 million. The adjusted EBITDA margin also contracted 660 basis points year over year to 7.8% from 14.4%.

The operating income was $66 million, a year-over-year decline of 87.1% from $512.3 million.

Pilgrim’s U.S. Business Faces Pricing PressureU.S. sales decreased 6.1% year over year to $2,649.2 million from $2,820.4 million. Adjusted operating income dropped year over year to $150.2 million from $413.5 million, while the adjusted operating margin narrowed to 5.7% from 14.7% in the prior-year period.

Higher retail and foodservice demand drove growth in fresh volumes, although weaker commodity chicken prices continued to weigh on profitability. Profitability improved sequentially as completed plant enhancement projects and stronger performance across live operations supported margins.

The U.S. Prepared Foods segment recorded year-over-year improvements in both sales and margins. Just Bare retail sales increased more than 30%. Over the past year, the brand strengthened its competitive position by adding nearly 300 basis points to its market share. Construction of the Walker County, GA, prepared foods facility continued as scheduled, while ongoing investments in Big Bird portioning equipment further expanded the company's value-added production capabilities.

Pilgrim’s Europe Sales Edge HigherEurope sales rose 1.3% year over year to $1,389.7 million from $1,371.3 million. Adjusted operating income declined year over year to $69.3 million from $73.9 million, and the adjusted operating margin slipped to 5% from 5.4% in the prior-year period.

Retail volumes with key customers continued to grow at a faster pace than the overall grocery market. The Rollover brand posted double-digit sales growth, while Fridge Raiders continued to deliver stable performance. Even so, profitability was affected by elevated pork imports into the U.K., increased costs associated with the Middle East and softer demand from foodservice customers.

PPC’s Mexico Volumes Grow Despite Margin SqueezeMexico sales increased 3.8% year over year to $587.3 million from $565.7 million. Adjusted operating income fell year over year to $16.5 million from $86.9 million, with the adjusted operating margin shrinking to 2.8% from 15.4% in the previous-year period.

Mexico volumes increased from the prior-year period, benefiting from improved growing conditions and a more than 30% increase in Pilgrim's branded retail fresh volumes. However, profitability in the live commodity business remained under pressure due to higher domestic chicken production, increased import volumes, greater egg availability and additional pork imports. At the same time, the expansion of live operations in the Southern Peninsula remained on schedule.

Other Financial Aspects of PPCPilgrim’s ended the quarter with cash and cash equivalents of $388.8 million, down from $640.2 million at the end of 2025. Long-term debt, excluding current maturities, was $2,861.4 million, while total stockholders’ equity stood at $3,763.4 million.

Cash provided by operating activities totaled $471.8 million for the first six months of 2026. Capital expenditures reached $465.2 million.

This Zacks Rank #5 (Strong Sell) stock has plunged 30.9% in the past six months compared with the industry’s 7.7% decline.

Image Source: Zacks Investment Research

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

United Natural Foods Inc. (UNFI - Free Report) distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It presently has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for UNFI’s 2026 sales indicates a decline of 2.1%, and the same for earnings indicates growth of 254.9% from the prior-year reported levels. UNFI delivered a trailing four-quarter earnings surprise of nearly 30%, on average.

US Foods Holding Corporation (USFD - Free Report) , together with its subsidiaries, markets, sells and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States. USFD currently carries a Zacks Rank #2 (Buy).

The Zacks Consensus Estimate for US Foods’ current fiscal-year sales and earnings implies growth of 5.1% and 16.3%, respectively, from the year-ago actuals. USFD delivered a trailing four-quarter earnings surprise of 3.9%, on average.

Darling Ingredients Inc. (DAR - Free Report) develops, produces, and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. DAR currently carries a Zacks Rank #2.

The Zacks Consensus Estimate for DAR’s current fiscal-year sales and earnings implies growth of 13.2% and 642.7%, respectively, from the year-ago actuals. DAR delivered a trailing four-quarter negative earnings surprise of 16.1%, on average.

Posted by Defense World Staff on Jul 30th, 2026

Arrowstreet Capital Limited Partnership raised its position in Pilgrim’s Pride Corporation (NASDAQ:PPC – Free Report) by 65.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 566,247 shares of the company’s stock after buying an additional 223,256 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.24% of Pilgrim’s Pride worth $21,381,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PPC. Torren Management LLC purchased a new stake in shares of Pilgrim’s Pride during the fourth quarter worth $31,000. MCF Advisors LLC bought a new position in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $35,000. Kingdom Financial Group LLC. purchased a new stake in shares of Pilgrim’s Pride in the fourth quarter worth $37,000. Bessemer Group Inc. raised its stake in Pilgrim’s Pride by 205.4% in the first quarter. Bessemer Group Inc. now owns 1,014 shares of the company’s stock valued at $39,000 after purchasing an additional 682 shares in the last quarter. Finally, Quarry LP grew its position in Pilgrim’s Pride by 30.5% in the fourth quarter. Quarry LP now owns 1,248 shares of the company’s stock worth $49,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance PPC stock opened at $29.95 on Thursday. The stock has a market cap of $7.13 billion, a PE ratio of 8.03 and a beta of 0.29. The company has a 50-day moving average price of $28.57 and a 200 day moving average price of $34.44. Pilgrim’s Pride Corporation has a 12 month low of $26.50 and a 12 month high of $50.56. The company has a current ratio of 1.48, a quick ratio of 0.73 and a debt-to-equity ratio of 0.83.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.06). The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 EPS. Equities research analysts anticipate that Pilgrim’s Pride Corporation will post 3.01 earnings per share for the current year.

Analyst Ratings Changes Several equities analysts recently commented on PPC shares. Weiss Ratings lowered shares of Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 26th. The Goldman Sachs Group dropped their price target on Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. UBS Group began coverage on Pilgrim’s Pride in a research report on Tuesday, May 19th. They set a “neutral” rating and a $30.00 price target on the stock. Bank of America dropped their target price on Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Finally, Barclays upgraded Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $45.00 to $42.00 in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.83.

Check Out Our Latest Analysis on PPC

Pilgrim’s Pride News Summary Here are the key news stories impacting Pilgrim’s Pride this week:

Positive Sentiment: U.S. demand remained firm across retail and foodservice, while the Prepared Foods segment delivered profitable growth. Just Bare® retail sales increased more than 30% year over year, and the brand gained market share. Pilgrim’s Pride Reports Second Quarter 2026 Results Positive Sentiment: Margins improved sequentially as plant upgrades, productivity initiatives and live-operations improvements began to help offset challenging commodity markets. Europe and Mexico also posted volume growth in poultry and prepared foods. Positive Sentiment: Pilgrim’s Pride maintained financial flexibility, reporting a net leverage ratio of 1.43 times adjusted EBITDA, below its 2-to-3 times target range. Ongoing investments in Georgia, Mexico and prepared-foods facilities are intended to support longer-term growth and reduce commodity volatility. Neutral Sentiment: Adjusted net income was $153.9 million, or $0.64 per share, while adjusted EBITDA was $360 million, representing a 7.8% margin. Management emphasized robust chicken demand and continued investment rather than providing a new earnings outlook. Pilgrim’s Pride Reports Second Quarter 2026 Results, Affirms Growth Investments and Liquidity Position Negative Sentiment: Adjusted EPS of $0.64 missed analyst estimates, which ranged from approximately $0.70 to $0.75. EPS fell from $1.70 a year earlier, increasing concern about near-term earnings momentum. Pilgrim’s Pride Q2 Earnings and Revenues Miss Estimates Negative Sentiment: Revenue declined 2.8% to $4.63 billion, GAAP net income plunged 96% to $13.2 million, operating income dropped 87.1%, and adjusted EBITDA declined 47.6%. Lower commodity pricing, increased protein supply and pressure in UK pork and Mexico compressed profitability. Pilgrim’s Pride Reports Lower Profit, Sales Pilgrim’s Pride Profile (Free Report)

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.

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

Second Quarter Highlights

Net Sales of $4.6 billion.Consolidated GAAP Operating Income margin of 1.4%.GAAP Net Income of $13.2 million and GAAP EPS of $0.06. Adjusted Net Income of $153.9 million, and Adjusted EPS of $0.64.Adjusted EBITDA of $360.0 million, or a 7.8% margin, with Adjusted EBITDA margins of 8.7% in the U.S., 7.6% in Europe, and 3.9% in Mexico.U.S. Fresh volumes rose from increased demand across both retail and foodservice. Profitability declined from previous year due to commodity market pricing reductions, while margins increased sequentially from last quarter with improvements in our productivity, completion of plant upgrades and gains in live operations. Pilgrim’s continues to improve its portfolio and support key customer growth with the investment in Ellijay, Ga., to increase deboning in the small bird category. U.S. Prepared Foods drove profitable growth as sales and margins both rose from last year. Just Bare® retail sales increased over 30% versus prior year, making it the second largest brand in the fully cooked category. Construction of the new prepared foods facility in Walker County, Ga., remains on schedule. Europe sales and volumes rose from continued marketplace momentum for poultry and meals offerings.  Sales of Rollover® grew double digits whereas Fridge Raiders® remained steady. Margins in the UK pork segment continue to be impacted by excess imports from European countries.Mexico volumes grew from last year with improved growing conditions and as retail fresh volumes of Pilgrim’s® rose over 30%. Margins in the live commodity markets were impacted by increased domestic production and imports in chicken, greater egg availability, and additional pork imports. Ramp up of live operations in the Southern Peninsula continues to be on track.Pilgrim’s approach to engaging its team members and supporting its communities garnered multiple awards across regions for workplace satisfaction, including “America’s Greatest Workplaces” by Newsweek in the U.S., “Employer of the Year” by The Grocer in Europe, and the “Exceptional Companies Award” by the Institute for the Promotion of Quality in Mexico.Maintained strong liquidity position to support future growth opportunities as the company’s net leverage ratio is currently 1.43x Adjusted EBITDA, below the target of 2x to 3x. (Unaudited) Three Months Ended Six Months Ended  June 28, 2026 June 29, 2025 Y/Y Change June 28, 2026 June 29, 2025 Y/Y Change  (In millions, except per share and percentages)Net sales $4,626.2  $4,757.4  (2.8)  % $9,158.9  $9,220.4  (0.7)  %U.S. GAAP EPS $0.06  $1.49  (96.0)  % $0.48  $2.73  (82.4)  %Operating income $66.0  $512.3  (87.1)  % $228.5  $916.8  (75.1)  %Adjusted EBITDA(1) $360.0  $686.9  (47.6)  % $668.1  $1,220.1  (45.2)  %Adjusted EBITDA margin(1)  7.8%  14.4% (6.6) pts  7.3%  13.2% (5.9) pts                      (1)  Reconciliations for non-U.S. GAAP measures are provided in subsequent sections within this release.

“Throughout the quarter, chicken demand remained firm in all regions as affordability continued to resonate with consumers across retail and foodservice,” said Fabio Sandri, Pilgrim’s President and CEO.  “We continued our investments to drive sales growth and reduce volatility, mitigating downsides in the chicken commodity markets.”

In the second quarter, counter-seasonal movements in the jumbo commodity cutout market emerged as values fell more than 25% from the prior year. While profitability declined compared to last year, margins improved sequentially with the completion of plant upgrades and improvements in live operations. 

Case Ready and Small Bird volumes grew from incremental distribution with Key Customers. Investments in Big Bird for portioning equipment continue to support the growth of Prepared Foods, moderating the impact of commodity market declines. Additional investments were announced in Ellijay, Ga., to support the long-term growth of Key Customers in the boneless category. 

“While consumer interest in chicken continued to be healthy across all channels, supply growth rose faster than demand.” said Sandri. “Our relentless focus on closing operational gaps and further investments in plant upgrades to increase our internal supply capabilities and support Key Customer growth will further improve our ability to mitigate the impact of volatile commodity fundamentals, creating a more resilient earnings profile.”

U.S. Prepared Foods continues to drive profitable growth as sales and margins expanded compared to prior year.  Just Bare® continues to lead growth within the frozen fully cooked category, growing market share by nearly 300 basis points over the past year.

“The growth of Just Bare® continues to demonstrate our ability to diversify our portfolio through brands,” Sandri said. “Our investment in Walker County, Ga., will further enhance our operational capabilities, accelerating momentum of our value-added line up.”

In Europe, volumes to Key Customers in retail rose faster than the overall grocery channel, as poultry and meal offerings continued to resonate throughout the market. These growth areas helped compensate for pressured pork margins due to increased European imports to the UK, additional costs driven by the Middle East conflict, and decreases in foodservice traffic.

“Our diversified portfolio continues to demonstrate adaptability needed to meet consumer needs and drive volume growth through Key Customer partnerships,” commented Sandri. “Equally important, we’ve secured additional distribution through our innovation and branded offerings that will further expand our presence.”

Mexico increased volumes through growth in both fresh and prepared. In Fresh, branded offerings in retail rose nearly 30% compared to last year. Prepared experienced similar success as Pilgrims® value-added products grew over double digits in both retail and foodservice.

Margins were compressed versus last year as counter-seasonal growing conditions for chickens, supporting a significant increase in production. Total protein supply also expanded further given additional egg availability and pork imports. 

Projects to drive sales and mitigate the impact of commodity volatility remain on schedule. The new prepared foods line in Porvenir started production on schedule, and expansion in the Southern Peninsula proceeds as planned.

“Demand for chicken continues to be robust throughout Mexico despite a significant increase in overall protein supply,” remarked Sandri. “The growth of our branded offerings and prepared foods along with our investments will further mitigate challenges from live commodity markets, improving our margin profile while reducing risk.”

Pilgrim’s was also recognized as a top employer of choice by multiple entities across all regions, resulting from the company’s partnerships with its team members and communities, its training and development programs, and overall workplace satisfaction. 

“Culture is paramount to our success,” concluded Sandri. “It attracts talent, retains team members and ultimately drives the success of our business. We will continue to be vigilant in embedding our unique values, strategies, and methods throughout all aspects of our organization.”

Conference Call Information

A conference call to discuss Pilgrim’s quarterly results will be held tomorrow, July 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/10210422/1046c71b5dc

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.

Contact: Andrew Rojeski  Head of Strategy, Investor Relations, & Sustainability  [email protected]  www.pilgrims.com     PILGRIM’S PRIDE CORPORATIONCONSOLIDATED BALANCE SHEETS       (Unaudited)    June 28, 2026 December 28, 2025  (In thousands)Cash and cash equivalents $388,843  $640,235 Restricted cash and cash equivalents  9,461   — Trade accounts and other receivables, less allowance for credit losses  897,865   1,164,903 Accounts receivable from related parties  28,219   13,398 Inventories  2,025,304   2,031,259 Income taxes receivable  79,793   103,702 Prepaid expenses and other current assets  290,745   272,809 Assets held for sale  —   11,057 Total current assets  3,720,230   4,237,363 Deferred tax assets  28,869   31,211 Other long-lived assets  153,311   113,195 Operating lease assets, net  249,464   257,784 Intangible assets, net  798,240   832,066 Goodwill  1,315,103   1,338,884 Property, plant and equipment, net  3,764,707   3,533,027 Total assets $10,029,924  $10,343,530      Accounts payable $1,579,442  $1,588,569 Accounts payable to related parties  30,591   43,516 Revenue contract liabilities  31,407   37,622 Accrued expenses and other current liabilities  1,008,263   1,095,858 Income taxes payable  94,339   123,769 Current maturities of long-term debt  913   924 Total current liabilities  2,744,955   2,890,258 Noncurrent operating lease liabilities, less current maturities  189,824   199,315 Long-term debt, less current maturities  2,861,359   3,093,113 Deferred tax liabilities  437,530   452,326 Other long-term liabilities  32,858   14,787 Total liabilities  6,266,526   6,649,799 Common stock  2,631   2,627 Treasury stock  (544,687)  (544,687)Additional paid-in capital  2,034,816   2,023,609 Retained earnings  2,360,323   2,245,523 Accumulated other comprehensive loss  (103,236)  (47,022)Total Pilgrim’s Pride Corporation stockholders’ equity  3,749,847   3,680,050 Noncontrolling interest  13,551   13,681 Total stockholders’ equity  3,763,398   3,693,731 Total liabilities and stockholders’ equity $10,029,924  $10,343,530   PILGRIM’S PRIDE CORPORATIONCONSOLIDATED AND COMBINED STATEMENTS OF INCOME(unaudited)           Three Months Ended Six Months Ended  June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025  (In thousands, except per share data)Net sales $4,626,230  $4,757,365  $9,158,863  $9,220,374 Cost of sales  4,286,478   4,042,070   8,473,621   7,950,206 Gross profit  339,752   715,295   685,242   1,270,168 Selling, general and administrative expense  265,103   199,457   445,272   333,236 Restructuring activities  8,699   3,499   11,464   20,111 Operating income  65,950   512,339   228,506   916,821 Interest expense, net of capitalized interest  49,860   42,475   87,707   84,213 Interest income  (3,750)  (11,024)  (10,620)  (35,977)Foreign currency transaction losses (gains)  (1,338)  4,892   (416)  2,839 Miscellaneous, net  (614)  414   (1,777)  (278)Income before income taxes  21,792   475,582   153,612   866,024 Income tax expense  8,572   119,573   38,942   213,672 Net income  13,220   356,009   114,670   652,352 Less: Net income attributable to noncontrolling interests  (157)  489   (130)  799 Net income (loss) attributable to Pilgrim’s Pride Corporation $13,377  $355,520  $114,800  $651,553          Weighted average shares of common stock outstanding:        Basic  237,928   237,381   237,820   237,308 Effect of dilutive common stock equivalents  915   1,046   881   1,046 Diluted  238,843   238,427   238,701   238,354          Net income attributable to Pilgrim's Pride Corporation per share of common stock outstanding:        Basic $0.06  $1.50  $0.48  $2.75 Diluted $0.06  $1.49  $0.48  $2.73   PILGRIM’S PRIDE CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)       Six Months Ended  June 28, 2026 June 29, 2025  (In thousands)Cash flows from operating activities:    Net income $114,670  $652,352 Adjustments to reconcile net income to cash provided by operating activities:    Depreciation and amortization  241,787   218,022 Asset impairment  22,263   846 Loss on early extinguishment of debt recognized as a component of interest expense  17,569   1,419 Stock-based compensation  11,211   14,185 Deferred income tax benefit  (5,691)  (19,493)Loan cost amortization  2,689   2,491 Loss on property disposals  2,604   1,990 Accretion of discount related to Senior Notes  1,125   1,211 Gain on equity method investments  —   (3)Changes in operating assets and liabilities:    Trade accounts and other receivables  239,435   (74,961)Inventories  (7,604)  (105,692)Prepaid expenses and other current assets  (17,457)  (17,434)Accounts payable, accrued expenses and other current liabilities  (127,640)  (34,570)Income taxes  (6,688)  8,048 Long-term pension and other postretirement obligations  1,259   (1,469)Other operating assets and liabilities  (17,686)  (24,839)Cash provided by operating activities  471,846   622,103 Cash flows from investing activities:    Acquisitions of property, plant and equipment  (465,189)  (259,283)Proceeds from property disposals  10,375   2,912 Business acquisitions  (3,073)  — Cash used in investing activities  (457,887)  (256,371)Cash flows from financing activities:    Payments on revolving line of credit, long-term borrowings and finance lease obligations  (313,312)  (90,654)Proceeds from revolving line of credit and long-term borrowings  73,667   — Payments on early extinguishment of debt  (14,548)  (2,120)Payments for dividend  —   (1,495,497)Cash used in financing activities  (254,193)  (1,588,271)Effect of exchange rate changes on cash and cash equivalents  (1,697)  37,700 Increase (decrease) in cash, cash equivalents and restricted cash  (241,931)  (1,184,839)Cash, cash equivalents and restricted cash, beginning of period  640,235   2,043,158 Cash, cash equivalents and restricted cash, end of period $398,304  $858,319  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, (4) asset impairment, and (5) net income (loss) 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 Six Months Ended  June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025  (In thousands)Net income $13,220  $356,009 $114,670  $652,352)Add:        Interest expense, net(a)  46,110   31,451  77,087   48,236Income tax expense  8,572   119,573  38,942   213,672Depreciation and amortization  123,306   113,504  241,787   218,022EBITDA  191,208   620,537  472,486   1,132,282Add:        Foreign currency transaction losses (gains)(b)  (1,338)  4,892  (416)  2,839Litigation settlements(c)  135,711   58,464  158,905   65,714Restructuring activities losses(d)  8,699   3,499  11,464   20,111Asset impairment(e)  25,558   —  25,558   —Minus:        Net income (loss) attributable to noncontrolling interest(e)  (157)  489  (130)  799Adjusted EBITDA $359,995  $686,903 $668,127  $1,220,147                (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.
(e)  Primarily due to the closure announcement of the Chattanooga, TN harvest plant.

The summary unaudited consolidated income statement data for the 12 months ended June 28, 2026 (the LTM Period) have been calculated by subtracting the applicable unaudited consolidated income statement data for the  six months ended June 28, 2026 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 six months ended June 28, 2026.

PILGRIM'S PRIDE CORPORATIONReconciliation of LTM Adjusted EBITDA(Unaudited)  Three Months Ended LTM Ended June 28, 2026  September 28, 2025 December 28, 2025 March 29, 2026 June 28, 2026  (In thousands)Net income $343,061 $87,931  $101,450 $13,220  $545,662Add:          Interest expense, net  28,990  33,044   30,977  46,110   139,121Income tax expense  118,319  86,803   30,370  8,572   244,064Depreciation and amortization  116,426  121,709   118,481  123,306   479,922EBITDA  606,796  329,487   281,278  191,208   1,408,769Add:          Foreign currency transaction losses (gains)  5,169  (1,231)  922  (1,338)  3,522Litigation settlements  19,582  77,363   23,194  135,711   255,850Restructuring activities losses  1,779  9,464   2,765  8,699   22,707Asset impairment  —  —   —  25,558   25,558Minus:          Net income (loss) attributable to noncontrolling interest  248  (62)  27  (157)  56Adjusted EBITDA $633,078 $415,145  $308,132 $359,995  $1,716,350 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 Six Months Ended Three Months Ended Six Months Ended  June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands, except percent of net sales)Net income $13,220  $356,009 $114,670  $652,352 0.29% 7.48% 1.25% 7.08%Add:                Interest expense, net  46,110   31,451  77,087   48,236 0.99% 0.66% 0.84% 0.52%Income tax expense  8,572   119,573  38,942   213,672 0.19% 2.51% 0.43% 2.32%Depreciation and amortization  123,306   113,504  241,787   218,022 2.66% 2.38% 2.64% 2.36%EBITDA  191,208   620,537  472,486   1,132,282 4.13% 13.03% 5.16% 12.28%Add:                Foreign currency transaction losses (gains)  (1,338)  4,892  (416)  2,839 (0.03)% 0.10% —% 0.03%Litigation settlements  135,711   58,464  158,905   65,714 2.94% 1.23% 1.72% 0.71%Restructuring activities losses  8,699   3,499  11,464   20,111 0.19% 0.07% 0.13% 0.22%Asset impairment  25,558   —  25,558   — 0.55% —% 0.28% —%Minus:                Net income (loss) attributable to noncontrolling interest  (157)  489  (130)  799 —% 0.01% —% 0.01%Adjusted EBITDA $359,995  $686,903 $668,127  $1,220,147 7.78% 14.42% 7.29% 13.23%                 Net sales $4,626,230  $4,757,365 $9,158,863  $9,220,374         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 June 28, 2026 June 29, 2025 U.S. Europe Mexico Total U.S. Europe Mexico Total (In thousands) (In thousands)Net income (loss)$(44,045) $46,969  $10,296  $13,220  $239,262 $54,880  $61,867  $356,009Add:               Interest expense, net(a) 47,963   (1,510)  (343)  46,110   35,651  (174)  (4,026)  31,451Income tax expense (benefit) (13,610)  15,244   6,938   8,572   78,204  16,001   25,368   119,573Depreciation and amortization 79,972   36,598   6,736   123,306   71,149  36,929   5,426   113,504EBITDA 70,280   97,301   23,627   191,208   424,266  107,636   88,635   620,537Add:               Foreign currency transaction losses (gains)(b) (1)  (169)  (1,168)  (1,338)  4  685   4,203   4,892Litigation settlements(c) 135,711   —   —   135,711   58,464  —   —   58,464Restructuring activities losses(d) —   8,699   —   8,699   —  3,499   —   3,499Asset impairment(e) 25,558   —   —   25,558   —  —   —   —Minus:               Net income (loss) attributable to noncontrolling interest —   —   (157)  (157)  —  —   489   489Adjusted EBITDA$231,548  $105,831  $22,616  $359,995  $482,734 $111,820  $92,349  $686,903                               (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.
(e)  Primarily due to the closure announcement of the Chattanooga, TN harvest plant.

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)                 Six Months Ended Six Months Ended June 28, 2026 June 29, 2025 U.S. Europe Mexico Total U.S. Europe Mexico Total (In thousands) (In thousands)Net income (loss)$(2,211) $100,254  $16,627  $114,670  $461,558 $97,030  $93,764  $652,352Add:               Interest expense, net(a) 81,826   (3,619)  (1,120)  77,087   61,218  (2,078)  (10,904)  48,236Income tax expense (benefit) (1,495)  30,573   9,864   38,942   149,216  25,923   38,533   213,672Depreciation and amortization 154,477   74,120   13,190   241,787   137,535  70,066   10,421   218,022EBITDA 232,597   201,328   38,561   472,486   809,527  190,941   131,814   1,132,282Add:               Foreign currency transaction losses (gains)(b) (1)  (1,139)  724   (416)  3  313   2,523   2,839Litigation settlements(c) 158,905   —   —   158,905   65,714  —   —   65,714Restructuring activities losses(d) —   11,464   —   11,464   —  20,111   —   20,111Asset impairment(d) 25,558   —   —   25,558   —  —   —   —Minus:               Net income (loss) attributable to noncontrolling interest —   —   (130)  (130)  —  —   799   799Adjusted EBITDA$417,059  $211,653  $39,415  $668,127  $875,244 $211,365  $133,538  $1,220,147                               (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.
(e)  Primarily due to the closure announcement of the Chattanooga, TN harvest plant.

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 Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands)GAAP operating income (loss), U.S. operations$(11,112) $354,987  $75,797  $673,793 Litigation settlements 135,711   58,464   158,905   65,714 Asset impairment 25,558   —   25,558   — Adjusted operating income, U.S. operations$150,157  $413,451  $260,260  $739,507         Adjusted operating income margin, U.S. operations 5.7%  14.7%  4.9%  13.3%         Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands)GAAP operating income, Europe operations$60,551  $70,419  $125,306  $119,490 Restructuring activities losses 8,699   3,499   11,464   20,111 Adjusted operating income, Europe operations$69,250  $73,918  $136,770  $139,601         Adjusted operating income margin, Europe operations 5.0%  5.4%  5.0%  5.4%         Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands)GAAP operating income, Mexico operations$16,511  $86,933  $27,403  $123,538 No adjustments —   —   —   — Adjusted operating income, Mexico operations$16,511  $86,933  $27,403  $123,538         Adjusted operating income margin, Mexico operations 2.8%  15.4%  2.4%  11.7% 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 Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In percent)GAAP operating income (loss) margin, U.S. operations(0.4)% 12.6% 1.4% 12.1%Litigation settlements5.1% 2.1% 3.0% 1.2%Asset impairment1.0% —% 0.5% —%Adjusted operating income margin, U.S. operations5.7% 14.7% 4.9% 13.3%         Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In percent)GAAP operating income margin, Europe operations4.4% 5.1% 4.6% 4.6%Restructuring activities losses0.6% 0.3% 0.4% 0.8%Adjusted operating income margin, Europe operations5.0% 5.4% 5.0% 5.4%         Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In percent)GAAP operating income margin, Mexico operations2.8% 15.4% 2.4% 11.7%No adjustments—% —% —% —%Adjusted operating income margin, Mexico operations2.8% 15.4% 2.4% 11.7% 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 Six Months Ended  June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025  (In thousands, except per share data)Net income attributable to Pilgrim's $13,377  $355,520  $114,800  $651,553 Add:        Foreign currency transaction losses (gains)  (1,338)  4,892   (416)  2,839 Litigation settlements  135,711   58,464   158,905   65,714 Restructuring activities losses  8,699   3,499   11,464   20,111 Asset impairment  25,558   —   25,558   — Loss on early extinguishment of debt recognized as a component of interest expense(a)  17,569   —   17,569   — Adjusted net income attributable to Pilgrim's before tax impact  199,576   422,375   327,880   740,217 Net tax impact of adjustments(b)  (45,706)  (16,178)  (52,305)  (21,456)Adjusted net income attributable to Pilgrim's $153,870  $406,197  $275,575  $718,761 Weighted average diluted shares of common stock outstanding  238,843   238,427   238,701   238,354 Adjusted net income attributable to Pilgrim's per common diluted share $0.64  $1.70  $1.15  $3.02                   (a)  The loss on early extinguishment of debt recognized as a component of interest expense was due to the repurchase of the Senior Notes due 2032 in the second quarter of 2026.
(b)  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 Six Months Ended  June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025  (In thousands, except per share data)U.S. GAAP EPS $0.06  $1.49  $0.48  $2.73 Add:        Foreign currency transaction losses (gains)  —   0.02   —   0.01 Litigation settlements  0.55   0.25   0.66   0.28 Restructuring activities losses  0.04   0.01   0.05   0.08 Asset impairment  0.11   —   0.11   — Loss on early extinguishment of debt recognized as a component of interest expense(a)  0.07   —   0.07   — Adjusted EPS attributable to Pilgrim's before tax impact  0.83   1.77   1.37   3.10 Net tax impact of adjustments(b)  (0.19)  (0.07)  (0.22)  (0.08)Adjusted EPS $0.64  $1.70  $1.15  $3.02          Weighted average diluted shares of common stock outstanding  238,843   238,427   238,701   238,354                   (a)  The loss on early extinguishment of debt recognized as a component of interest expense was due to the repurchase of the Senior Notes due 2032 in the second quarter of 2026.
(b)  Net tax impact of adjustments represents the tax impact of all adjustments shown above.

PILGRIM'S PRIDE CORPORATIONSupplementary Geographic Data(Unaudited)           Three Months Ended Six Months Ended  June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025  (In thousands)Sources of net sales by country of origin:        U.S. $2,649,242  $2,820,385 $5,284,640 $5,563,574Europe  1,389,647   1,371,270  2,741,391  2,602,799Mexico  587,341   565,710  1,132,832  1,054,001Total net sales $4,626,230  $4,757,365 $9,158,863 $9,220,374         Sources of cost of sales by country of origin:        U.S. $2,452,286  $2,331,143 $4,891,126 $4,686,710Europe  1,278,722   1,247,137  2,510,115  2,362,362Mexico  555,470   463,790  1,072,380  901,134Total cost of sales $4,286,478  $4,042,070 $8,473,621 $7,950,206         Sources of gross profit by country of origin:        U.S. $196,956  $489,242 $393,514 $876,864Europe  110,925   124,133  231,276  240,437Mexico  31,871   101,920  60,452  152,867Total gross profit $339,752  $715,295 $685,242 $1,270,168         Sources of operating income by country of origin:        U.S. $(11,112) $354,987 $75,797 $673,793Europe  60,551   70,419  125,306  119,490Mexico  16,511   86,933  27,403  123,538Total operating income $65,950  $512,339 $228,506 $916,821

Pilgrim's Pride (PPC - Free Report) ended the recent trading session at $28.68, demonstrating a +2.72% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.05%. Meanwhile, the Dow experienced a rise of 0.46%, and the technology-dominated Nasdaq saw a decrease of 0.64%.

The stock of poultry producer has risen by 4.3% in the past month, leading the Consumer Staples sector's loss of 0.06% and the S&P 500's gain of 0.61%.

Market participants will be closely following the financial results of Pilgrim's Pride in its upcoming release. The company plans to announce its earnings on July 29, 2026. It is anticipated that the company will report an EPS of $0.75, marking a 55.88% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $4.9 billion, indicating a 3% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $3.01 per share and revenue of $18.7 billion, which would represent changes of -41.78% and +1.09%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. 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).

In the context of valuation, Pilgrim's Pride is at present trading with a Forward P/E ratio of 9.29. This expresses a discount compared to the average Forward P/E of 11.8 of its industry.

The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 217, placing it within the bottom 12% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual 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.

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

Wall Street expects a year-over-year decline in earnings on higher revenues when Pilgrim's Pride (PPC - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on July 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis poultry producer is expected to post quarterly earnings of $0.75 per share in its upcoming report, which represents a year-over-year change of -55.9%.

Revenues are expected to be $4.9 billion, up 3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Pilgrim's Pride?For Pilgrim's Pride, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -20.00%.

On the other hand, the stock currently carries a Zacks Rank of #5.

So, this combination makes it difficult to conclusively predict that Pilgrim's Pride will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Pilgrim's Pride would post earnings of $0.69 per share when it actually produced earnings of $0.51, delivering a surprise of -26.09%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Pilgrim's Pride doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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.

Over the past month, shares of this poultry producer have returned +0.3%, compared to the Zacks S&P 500 composite's +0.5% change. During this period, the Zacks Food - Meat Products industry, which Pilgrim's Pride falls in, has lost 3%. The key question now is: What could be the stock's future direction?

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 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.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Pilgrim's Pride is expected to post earnings of $0.75 per share, indicating a change of -55.9% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

The consensus earnings estimate of $3.01 for the current fiscal year indicates a year-over-year change of -41.8%. This estimate has changed -14.5% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $3.03 indicates a change of +0.7% from what Pilgrim's Pride is expected to report a year ago. Over the past month, the estimate has changed -17.2%.

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.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

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.

July 09, 2026 16:30 ET  | Source: Pilgrim's Pride Corporation

GREELEY, Colo., July 09, 2026 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ: PPC) announced today that it will release its second quarter 2026 financial results after the U.S. market closes on Wednesday, July 29. The company’s executives will review the results on a conference call and webcast on Thursday, July 30, 2026, at 7:00 a.m. MT (9:00 a.m. ET). Prepared remarks regarding the company’s financial and operational results will be followed by a question and answer period with the Pilgrim’s executive management team. A press release and supplemental materials will be issued before the market opens that morning.

Investors and analysts may pre-register for the webcast to receive a unique PIN to gain immediate access to the call and bypass the live operator. Pre-registration may be completed at any time, including up to and after the call has begun, by accessing the company’s investor website at https://ir.pilgrims.com in the “Events & Presentations” section. Participants also can register for the conference call and webcast at https://dpregister.com/sreg/10210422/1046c71b5dc.

Participants who would like to join the call but have not pre-registered can do so on the day of the event by dialing +1 (844) 883-3889 within the US, or +1 (412) 317-9245 internationally, and requesting the “Pilgrim’s Pride Conference.” To submit a question to management during the call, participants must be logged in via telephone.

The webcast will be available for replay on Pilgrim’s website two hours after the call concludes and will remain available through October 30, 2026. Alternatively, the telephone replay may be accessed by dialing +1 (855) 669-9658 in the US, or +1 (412) 317-0088 internationally, and requesting conference number 4970087, which will be available through August 30, 2026.

About Pilgrim’s Pride Corporation

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

Contact:
Andrew Rojeski
Head of Strategy, Investor Relations & Sustainability
Phone: 970-506-7783
[email protected]  

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.

Over the past month, shares of this poultry producer have returned +0.4%, compared to the Zacks S&P 500 composite's -1.8% change. During this period, the Zacks Food - Meat Products industry, which Pilgrim's Pride falls in, has lost 2.2%. The key question now is: What could be the stock's future direction?

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 $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.

The consensus earnings estimate of $3.52 for the current fiscal year indicates a year-over-year change of -31.9%. This estimate has remained unchanged 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 remained unchanged.

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 #4 (Sell).

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

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Pilgrim's Pride, the consensus sales estimate for the current quarter of $4.9 billion indicates a year-over-year change of +3%. For the current and next fiscal years, $18.7 billion and $19.2 billion estimates indicate +1.1% and +2.7% 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.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

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.

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 #4 does suggest that it may underperform the broader market in the near term.

In the latest trading session, Pilgrim's Pride (PPC - Free Report) closed at $26.63, marking a -2.53% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 1.33%.

Heading into today, shares of the poultry producer had lost 4.01% over the past month, lagging the Consumer Staples sector's loss of 1.01% and the S&P 500's gain of 2.02%.

Analysts and investors alike will be keeping a close eye on 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%. Alongside, our most recent consensus estimate is anticipating revenue of $4.9 billion, indicating a 3% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $3.52 per share and revenue of $18.7 billion, which would represent changes of -31.91% and +1.09%, respectively, from the prior year.

Any recent changes to analyst estimates for Pilgrim's Pride should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Pilgrim's Pride boasts 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 7.77 right now. This signifies a discount in comparison to the average Forward P/E of 11.21 for its industry.

The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Pilgrim's Pride (PPC - Free Report) closed at $29.04 in the latest trading session, marking a -3.43% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.65%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 3.07%.

The poultry producer's shares have seen an increase of 9.11% over the last month, surpassing the Consumer Staples sector's gain of 1.76% and the S&P 500's gain of 0.48%.

Analysts and investors alike will be keeping a close eye on the performance of Pilgrim's Pride in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.97, marking a 42.94% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.9 billion, up 3% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.52 per share and revenue of $18.7 billion, indicating changes of -31.91% and +1.09%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Pilgrim's Pride. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Pilgrim's Pride currently has a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, Pilgrim's Pride is holding a Forward P/E ratio of 8.55. This signifies a discount in comparison to the average Forward P/E of 11.82 for its industry.

The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 108, putting it in the top 45% of all 250+ industries.

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

To follow PPC in the coming trading sessions, be sure to utilize Zacks.com.

Wall Street expects a year-over-year decline in earnings on higher revenues when Pilgrim's Pride (PPC - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 29. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis poultry producer is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of -47.3%.

Revenues are expected to be $4.5 billion, up 0.8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Pilgrim's Pride?For Pilgrim's Pride, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -16.79%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that Pilgrim's Pride will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Pilgrim's Pride 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 beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Pilgrim's Pride doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerSmithfield Foods, Inc. (SFD - Free Report) , another stock in the Zacks Food - Meat Products industry, is expected to report earnings per share of $0.58 for the quarter ended March 2026. This estimate points to no change from the year-ago quarter. Revenues for the quarter are expected to be $3.74 billion, down 0.8% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Smithfield Foods, Inc. has been revised 10.1% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.

When combined with a Zacks Rank of #1 (Strong Buy), this Earnings ESP makes it difficult to conclusively predict that Smithfield Foods, Inc. will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Posted by Defense World Staff on Apr 25th, 2026

Cwm LLC reduced its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC – Free Report) by 34.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,771 shares of the company’s stock after selling 32,387 shares during the quarter. Cwm LLC’s holdings in Pilgrim’s Pride were worth $2,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund boosted its holdings in shares of Pilgrim’s Pride by 1.3% in the second quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock valued at $801,000 after acquiring an additional 230 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Pilgrim’s Pride by 23.5% in the fourth quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock valued at $53,000 after acquiring an additional 257 shares in the last quarter. Kendall Capital Management boosted its holdings in shares of Pilgrim’s Pride by 4.3% in the third quarter. Kendall Capital Management now owns 6,385 shares of the company’s stock valued at $260,000 after acquiring an additional 265 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Pilgrim’s Pride by 3.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 9,824 shares of the company’s stock worth $400,000 after buying an additional 333 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Pilgrim’s Pride by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 43,476 shares of the company’s stock worth $1,956,000 after buying an additional 380 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pilgrim’s Pride In related news, CFO Matthew R. Galvanoni sold 6,963 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.52, for a total value of $303,029.76. Following the completion of the transaction, the chief financial officer owned 91,397 shares in the company, valued at $3,977,597.44. This trade represents a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 82.23% of the stock is owned by company insiders.

Pilgrim’s Pride Price Performance NASDAQ PPC opened at $33.63 on Friday. The stock has a market capitalization of $8.00 billion, a P/E ratio of 7.41 and a beta of 0.46. Pilgrim’s Pride Corporation has a 1 year low of $32.23 and a 1 year high of $54.74. The business’s fifty day moving average is $37.69 and its two-hundred day moving average is $38.84. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.76 and a current ratio of 1.47.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.14). Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the company posted $1.35 EPS. Pilgrim’s Pride’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Pilgrim’s Pride Corporation will post 4.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In PPC has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. Stephens set a $40.00 price objective on Pilgrim’s Pride in a research note on Wednesday, April 15th. Zacks Research downgraded Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. BMO Capital Markets reduced their price objective on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group reduced their price objective on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.00.

Get Our Latest Stock Report on PPC

Pilgrim’s Pride Company Profile (Free Report)

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.

Read More Five stocks we like better than Pilgrim’s Pride

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Smithfield Foods, Inc. (SFD - Free Report) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +10.35%. A quarter ago, it was expected that this company would post earnings of $0.66 per share when it actually produced earnings of $0.83, delivering a surprise of +25.76%.

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

Smithfield Foods, Inc., which belongs to the Zacks Food - Meat Products industry, posted revenues of $3.8 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.55%. This compares to year-ago revenues of $3.77 billion. The company has topped consensus revenue estimates four times 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.

Smithfield Foods, Inc. shares have added about 28.7% since the beginning of the year versus the S&P 500's gain of 4.8%.

What's Next for Smithfield Foods, Inc.?While Smithfield Foods, Inc. has outperformed 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 Smithfield Foods, Inc. was favorable. 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 #1 (Strong Buy) for the stock. So, the shares are expected to outperform 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 $0.76 on $3.62 billion in revenues for the coming quarter and $2.74 on $15.7 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 top 39% 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.

Pilgrim's Pride (PPC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on April 29.

This poultry producer is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of -47.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Pilgrim's Pride's revenues are expected to be $4.5 billion, up 0.8% from the year-ago quarter.

The chicken and pork manufacturer reported a lower profit but higher revenue in the first quarter, citing resilient chicken demand.

Pilgrim's Pride Corporation (PPC) Q1 2026 Earnings Call Transcript

On May 01, 2026, Pilgrims Pride Corp PPC shares fell 3.8% today, closing at $31.88. This decline adds to a challenging performance over the past month, with shares down 16.1%. The stock has traded between $30.67 and $51.45 over the last 52 weeks.

GF Value™ verdict: The current price of $31.88 is 19.4% below the GF Value™ estimate of $39.55.GF Score™: PPC has a GF Score™ of 79/100, indicating it is above average in terms of its overall quality score.Most notable signal: Insider activity shows that insiders have sold $0.3M worth of shares in the last three months, with no reported buying. Is PPC Overvalued or Undervalued? Pilgrims Pride Corp's current price of $31.88 is significantly lower than the GF Value™ estimate of $39.55, suggesting the stock is undervalued by 19.4%. This margin of safety could indicate an opportunity for investors looking for undervalued stocks in the consumer packaged goods sector. However, it is essential to exercise caution given the broader trends in the stock’s recent performance, which has seen a notable decline this year.

The GF Valuation label categorizes PPC as "Modestly Undervalued," reflecting its current pricing in relation to its intrinsic value. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. This suggests that while there may be an attractive upside potential, the stock’s recent performance and market conditions should be closely monitored.

How Does PPC's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 8.6x 11.7x Forward P/E 7.9x N/A Pilgrims Pride Corp's current P/E (TTM) of 8.6x is significantly below its 5-year median P/E of 11.7x, indicating that the stock is trading at a lower valuation than it has historically. The forward P/E of 7.9x also supports the notion that PPC is undervalued. This P/E analysis aligns with the findings of the GF Value™, reinforcing the thesis that the stock presents a potential buying opportunity, albeit with the caveat of current market volatility.

What Does PPC's GF Score™ Tell Us? Metric Rating GF Score™ 79/100 Financial Strength 6/10 Profitability 8/10 Growth 6/10 Valuation 10/10 Momentum 2/10 The GF Score™ of 79/100 indicates that Pilgrims Pride Corp is positioned above average when compared to its peers. The strongest aspect is its Valuation rank, which is rated at 10/10, signifying an attractive price relative to its intrinsic value. However, the Momentum rank at 2/10 highlights a significant weakness, indicating that the stock has been underperforming in terms of price movement recently. The Profitability rank of 8/10 suggests solid earnings potential, while the Financial Strength and Growth ranks of 6/10 indicate room for improvement in these areas.

What Are Insiders Doing with PPC Stock? In the last three months, insider trading has shown a negative trend, with insiders selling approximately $0.3M worth of their shares and no recorded buying activity. This pattern may suggest a lack of confidence among insiders regarding the company's short-term prospects. While it's not uncommon for insiders to sell shares for various reasons, a lack of buying activity could raise concerns about future performance and investor sentiment.

What This Means for Investors Based on the GF Value™ assessment, Pilgrims Pride Corp is considered undervalued. With a current price of $31.88 compared to a GF Value™ of $39.55, there is a potential upside of 19.4%. However, the recent stock performance and insider selling activity should be taken into account when considering the investment potential.

For the complete analysis, visit the Pilgrims Pride Corp PPC stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is PPC's GF Score™?

PPC has a GF Score™ of 79/100, indicating that it ranks above average compared to its peers and suggests a higher likelihood of generating long-term returns.

Is PPC overvalued or undervalued?

According to the GF Value™ assessment, PPC is undervalued with a current price of $31.88 compared to a GF Value™ of $39.55, indicating a potential upside of 19.4%.

What is PPC's P/E ratio?

PPC's P/E ratio (TTM) is 8.6x, which is significantly below its 5-year median P/E of 11.7x, supporting the conclusion that the stock is undervalued.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Investors in Pilgrim's Pride Corporation (PPC - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the June 18, 2026 $25.00 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for Pilgrim's Pride, but what is the fundamental picture for the company? Currently, Pilgrim's Pride is a Zacks Rank #5 (Hold) in the Food - Meat Products industry that ranks in the Bottom 14% of our Zacks Industry Rank. Over the last 60 days, no analyst has increased his earnings estimate for the current quarter, while none have dropped their estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.25 per shareto $1.14 in that period.

Given the way analysts feel about Pilgrim's Pride right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.