US - Poultry meat processor, Pilgrim's Pride, reports net sales at $2.3 billion for the last quarter, up from $2.1 billion for the same period last year.
Pilgrim's Pride Corporation reports third quarter 2014 earnings with net sales of $2.3 billion, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of $435.0 million and net income of $256.0 million, resulting in diluted Earnings Per Share of $0.99 for the quarter. EBITDA Margin was 19.2 per cent.
These results compare to net sales of $2.1 billion, EBITDA of $222.5 million, and net income of $160.9 million, resulting in diluted Earnings Per Share of $0.62 for the third quarter of 2013.
Bill Lovette, Chief Executive Officer of Pilgrim's, commented: "Our third quarter results reflect the discipline that Pilgrim's has demonstrated in managing the variables within our control as well as the strength we've seen in the chicken markets.
"Our focus has been, and continues to be, the consistent execution of our strategy to be a valued partner to our key customers, relentless pursuit of operational excellence and value-added export growth. We are optimistic that we will continue to be one of the more profitable operators with our management philosophy conducive to continually operating at the top of our industry, even with varying levels of strength in chicken markets.
"We are pleased about the level of engagement from our team members as we move into 2015. Through our budgeting process for next year we have identified new targeted capital investments and additional operational improvement opportunities that will continue our trajectory towards our vision of being the best managed and most respected company in the industry," Mr Lovette said.ThePoultrySite News Desk
Top image via Shutterstock