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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.
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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