By Elias Schisgall

Pilgrim's Pride reported a lower profit but higher revenue in the first quarter, citing resilient chicken demand.

The chicken and pork manufacturer Wednesday logged a profit of $101.4 million, or 43 cents a share. That compares with a profit of $296 million, or $1.24 a share, a year earlier.

Stripping out certain one-time items, adjusted earnings were 51 cents a share. Wall Street was expecting 65 cents a share, according to FactSet.

Net sales rose to $4.53 billion from $4.46 billion a year prior. Analysts polled by FactSet were expecting sales to fall to $4.43 billion.

Chief Executive Fabio Sandri said chicken demand remained healthy across all regions during the quarter, driven by solid grain supply, consumer momentum in retail and food service, and the affordability of chicken.

Margins in the U.S. Fresh business were pressured compared to the previous year, driven in part by lower values for deli small birds and the impact of winter storms, he said. Margins were also impacted by planned downtime at its Russellville, Ala., plant, which the company is converting into a Case Ready plant to support the growth of a key customer.

Pilgrim's Pride reported steady volume and margins in Europe despite falling consumer confidence, the company said.

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

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 29, 2026 17:16 ET (21:16 GMT)

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