Pilgrim's Pride Corp 2026年一季度报告

April 29, 2026 GREELEY, Colo.,April 29, 2026(GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation(NASDAQ: PPC), one of the world's leading food companies,reports its first quarter 2026 financial results. First Quarter Highlights Net Salesof$4.5 billion.Consolidated GAAP Operating Income margin of 3.6%.GAAP Net Income of$101.5 millionand GAAP EPS of$0.43. Adjusted Net Income of$121.7 million, and Adjusted EPS of$0.51.Adjusted EBITDA of$308.1 million, or a 6.8% margin, with Adjusted EBITDA margins of 7.0% in theU.S., 7.8% inEurope,and 3.1% inMexico.TheU.S.Fresh business implemented several projects during the quarter to upgrade product mix and enhance operationalefficiencies in Big Bird, while growing Key Customer partnerships. Together, these projects will reinforce the foundation offuture growth while reducing portfolio volatility and increasing returns. The impacts from plant downtime and ramp up fromthese projects, along with weakened commodity fundamentals and disruptions from weather events, contributed to reducedprofitability compared to last year.U.S. Prepared Foodsgrowth continues to accelerate, with record retail volumes.Just Bare®continues to resonatethroughout the marketplace as retail sales increased nearly 40% versus last year. To support this growth, the constructionof the new value-added facility inWalker County, Georgia, remains on schedule.Europemaintained steady results compared to last year given its balanced portfolio across proteins and meal occasions.Rollover®continued to outpace the category average, whereasFridge Raiders®maintained a steady presence in snacking.Back-office integration and network optimization continues to improve productivity and support further growth.Mexicogrew its branded portfolio acrossFresh and Prepared Foods, increasing volumes by more than 10% compared tolast year. Geographical diversification also continues with ramp up of production in the South and Peninsula areas.Improved growing conditions in the live markets and increased imports compressed margins versus the first quarter of2025.Significantly surpassed the Scope 1 & 2 emissions intensity reduction targets required for the 2025 performance milestonespecified in the Sustainability-Linked Bond.Maintained strong liquidity position to support future growth opportunities as net leverage ratio is currently 1.25x AdjustedEBITDA, below the target of 2x to 3x. (Unaudited) Net salesU.S.GAAP EPSOperating incomeAdjusted EBITDA(1)Adjusted EBITDA margin(1) (1) Reconciliations for non-U.S.GAAP measures are provided in subsequent sections within this release. “During the quarter, chicken demand continued to be healthy across all regions,” saidFabio Sandri, Pilgrim’s President and CEO. “Overall businessfundamentals remained positive given chicken’s affordability, consumer momentum in retail and foodservice, and ample grain supplies. Equallyimportant, we made significant progress on our growth and portfolio projects, reinforcing the foundation for a more resilient earnings profile.” In the first quarter,U.S.Fresh completed the conversion ofRussellville, Ala., to a Case Ready plant to support growth of a key customer andimplemented multiple operational excellence projects in Big Bird. Margins were challenged compared to the prior year given planned plant downtime,impact of winter storms, lower values for deli small birds, and decline in commodity cutout fundamentals. “Our operations underwent a significant amount of transition over the past several months,” said Sandri. “Not only will these investments reducevolatility of our portfolio, but they also further enhance our capabilities to meet growing demand from Key Customers in the upcoming months.” Growth inU.S. Prepared Foodsaccelerated as value-added offerings expanded across retail and foodservice.Just Bare®retail sales rose nearly 40%compared to last year given increased distribution and velocity. Construction of the company’s new facility inWalker County, Ga., remains on track. “Once complete, ourWalker Countyfacility will enhance margins and further drive sales growth forU.S. Prepared Foods,” Sandri commented. “It willalso increase diversification within ourU.S.business given our expansion in brands and valued-added products, ultimately creating more stableearnings.” InEurope, a balanced portfolio maintained steady volume and margins compared to last year amid declining consumer confidence. Within grocery,poultry and meals grew faster than the category averages, and demand from Key Customers remained stable. Back-office integration and networkoptimization continues to improve productivity and support further growth. “Europe’s performance reflects the benefits of diversification,” Sandri said. “As consumers became increasingly focused on value, many of ourofferings throughout our portfolio were readily available to meet their needs across retail and foodservice.” Mexicocontinues to execute strategies for profitable growth. In Fresh, branded sales volumes incre