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Jun 26, 2022
Pilgrim's Pride Q2 2022 Earnings Report
Pilgrim's Pride's Q2 2022 results were released, showing significant growth and improved profitability.
Key Takeaways
Pilgrim's Pride reported a strong second quarter in 2022, with net sales reaching $4.63 billion, a 27.3% increase from the prior year. The company's consolidated GAAP operating income margin was 11.1%, and adjusted EBITDA increased by 67.7% year-over-year.
Net sales increased by 27.3% to $4.63 billion compared to the prior year.
Consolidated GAAP operating income margin was 11.1%, with strong performance in the U.S. and Mexico.
Adjusted EBITDA grew by 67.7% year-over-year, reaching $623.3 million with a 13.5% margin.
The company is investing in operational improvements and capacity expansion to support future growth.
Pilgrim's Pride
Pilgrim's Pride
Pilgrim's Pride Revenue by Geographic Location
Revenue by Geographic Location
U.S. Revenue
CapyFin.comEurope Revenue
CapyFin.comMexico Revenue
CapyFin.com Forward Guidance
Pilgrim's Pride is making new investments in the US, including expansions, a new conversion plant, and a prepared foods facility, to drive profitable growth and enhance operating margins.
Positive Outlook
- Expansion of Athens, Georgia facility to enhance service levels and support growth for a Key Customer.
- Funding for operational excellence improvements via automation throughout our US footprint.
- Construction of a protein conversion plant for pet food ingredients in Georgia.
- Development of a Prepared Foods facility in the Southeast USA to cultivate our branded growth and further diversify our portfolio.
- These investments will enable sufficient capacity for top line growth with Key Customers, enhance operating margins, create value for shareholders, and provide opportunities for team members.
Challenges Ahead
- Continual cost escalation in the UK and European business requires consistent innovation to drive profitable growth.
- Seasonal diseases impacted Mexican operations, reducing efficiency in live production.
- The team will continue to identify ways to leverage our diverse portfolio of offerings and further optimize our production capabilities to alleviate continual cost escalation
- Volatile environment
- Mitigate inflationary headwinds
Revenue & Expenses
Visualization of income flow from segment revenue to net income