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Sep 28
Pilgrim's Pride Q3 2025 Earnings Report
Pilgrim's Pride reported third quarter 2025 results with $4.8 billion in net sales and operating income of $492.6 million.
Key Takeaways
Pilgrim's Pride delivered a solid third quarter in 2025, achieving $4.8 billion in net sales and a GAAP operating income margin of 10.4%. The company reported GAAP Net Income of $343.1 million and Adjusted Net Income of $362.9 million, with Adjusted EBITDA reaching $633.1 million. Despite some commodity market volatility, the U.S. business maintained strong performance, while Europe focused on innovation and Mexico continued its growth in branded offerings and capacity expansion.
Net Sales for Q3 2025 reached $4.759 billion, an increase of 3.8% compared to the prior year.
GAAP EPS was $1.44, while Adjusted EPS was $1.52, reflecting a non-GAAP adjustment for litigation settlements and restructuring activities.
Adjusted EBITDA stood at $633.1 million, with an Adjusted EBITDA margin of 13.3%.
The company maintained a strong liquidity position and balance sheet flexibility, with net leverage at approximately 1.0 times Adjusted EBITDA.
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 plans to continue its growth journey with new investments totaling over $500 million in the U.S. over the next two years. These investments aim to support growth with Key Customers in Fresh and diversify the portfolio through branded offerings in Prepared Foods. The company also focuses on strengthening partnerships, driving innovation, and expanding capacity across all regions.
Positive Outlook
- New investments of over $500 million in the U.S. to support growth with Key Customers in Fresh and diversify Prepared Foods.
- Continued expansion of U.S. Prepared Foods across retail and foodservice, with Just Bare® leading growth.
- Driving innovation and differentiation in Europe, including a new 10-year supply agreement and accelerating momentum for Fridge Raiders® and Rollover®.
- Continued growth in Mexico's Key Customer demand for fresh products and diversification through value-added Prepared Foods.
- Ongoing expansion projects in Mexico to diversify geographical presence and grow prepared foods.
Challenges Ahead
- Volatility in commodity market fundamentals, as experienced in September, could impact future results.
- Potential for increased competition and pricing pressures in the poultry industry.
- Risks associated with currency exchange rate fluctuations, trade barriers, and other factors in foreign operations.
- Exposure to risks related to product liability, product recalls, and other operational disruptions.
- Uncertainties of litigation and other legal matters, which could impact financial performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income