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Jun 30, 2024
Pilgrim's Pride Q2 2024 Earnings Report
Pilgrim's Pride experienced significant year-over-year profitability growth, driven by disciplined execution of strategies and expanding relationships with Key Customers.
Key Takeaways
Pilgrim's Pride reported strong Q2 2024 results with $4.6 billion in net sales and operating income of $440.8 million. The company saw growth across its U.S., Europe, and Mexico segments, driven by enhanced market conditions, operational excellence, and strategic partnerships.
Net Sales reached $4.6 billion.
Consolidated GAAP operating income margin was 9.7%.
GAAP Net Income was $326.5 million, with a GAAP EPS of $1.37.
Adjusted EBITDA was $655.9 million, representing a 14.4% margin.
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 focused on driving profitable growth and mitigating operational risk through strategic investments and partnerships with Key Customers.
Positive Outlook
- Ramping up new protein conversion plant in South Georgia.
- Partnering with Key Customers to support future growth.
- Expanding production capacity in Mexico.
- Focusing on innovation of branded, value-added items across retail and food service.
- Optimizing manufacturing network and increasing efficiencies in Europe.
Challenges Ahead
- Exposure to risks related to product liability, product recalls, property damage and injuries to persons.
- 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.
- Risk of cyber-attacks, natural disasters, power losses, unauthorized access, telecommunication failures, and other problems on our information systems.
- Uncertainties of litigation and other legal matters.
Revenue & Expenses
Visualization of income flow from segment revenue to net income