By Roshan Fernandez
Pilgrim's Pride profitability improved in the first quarter boosted by its prepared foods brands.
The Greeley, Colo.-based company reported a profit of $296 million, or $1.24 a share, compared with $174.9 million, or 73 cents a share, a year earlier.
Excluding one-time items, per-share earnings were $1.31, below the $1.34 per share that analysts were expecting, according to FactSet.
Revenue rose to $4.46 billion from $4.36 billion a year earlier, edging just past analysts' forecast of $4.45 billion.
Poultry commodity prices rose higher than historical averages, benefiting the company's big bird--or whole chicken--offerings, Pilgrim's Pride said. Its case-ready and small bird sectors saw increased distribution to customers in retail, deli and quick-service restaurants.
The company said net sales for its U.S. prepared foods business grew more than 20% year over year, with brands such as Just Bare frozen chicken having the most growth in its retail fully cooked chicken category.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
April 30, 2025 17:18 ET (21:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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