GREELEY, CO -Pilgrim’s Pride has reported Q2 results highlighted by a 175% improvement in net income, which rose from $69.4 million to $190.7 million while Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose from $125.1 million to $264.6 million.
Bill Lovette, Pilgrim’s Chief Executive Officer stated, “Our second quarter results continue to validate our strategy. Our focus on our key customers and ability to adapt to changing market conditions has helped us gain significant business in strategic channels to improve our sales mix, enabling us to take advantage of strong industry fundamentals.”
Pilgrims Pride Corperation, which employs approximately 37,500 people, operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico. The Company's primary distribution is through retailers and foodservice distributors.
"We continue to reap the benefits of operational excellence in areas of yield improvements and plant cost and efficiency gains, all of which contributed to our positive results, while our export and Mexico business continue to operate more favorably,” said Lovette.