The earnings call highlighted strong financial performance with record revenue growth and significant improvements in EBITDA margins across multiple segments. Despite some challenges in Mexico and impacts from Hurricane Helene, the company's strategic investments and operational improvements have led to positive outcomes. Sustainability achievements and a strong balance sheet further underscore the company's robust position.

Company Guidance

During the third quarter of 2024, Pilgrim's Pride reported net revenues of $4.6 billion, marking a 5.2% increase over the same quarter last year. The company's adjusted EBITDA was $660 million, representing a 14.4% margin, up from 7.4% in Q3 2023. The U.S. segment experienced a 12% year-over-year sales growth, driven by higher commodity chicken pricing and increased demand from key customers in case-ready and Small Bird categories. In contrast, Mexico's revenues declined due to seasonal demand changes and market disruptions, while Europe maintained flat net revenues but expanded margins to 8.6% from 6.1% last year. The company highlighted improvements in production efficiencies, lower input costs, and strategic customer partnerships that contributed to its robust performance. Additionally, Pilgrim's Pride maintained a strong balance sheet with net debt at $1.3 billion, a leverage ratio of 0.65x, and nearly $3 billion in available liquidity, positioning it well for future growth opportunities.

Record Revenue Growth

Net revenues for Q3 2024 were $4.6 billion, a 5.2% increase over the same period last year.

Significant EBITDA Improvement

Adjusted EBITDA reached $660 million, showing a significant improvement from $324 million in Q3 2023 with margins increasing from 7.4% to 14.4%.

U.S. Segment Performance

U.S. adjusted EBITDA margins improved to 18% from 7% a year ago, driven by commodity chicken pricing and key customer growth.

European Market Expansion

Adjusted EBITDA margins in Europe were 8.6%, up from 6.1% last year, supported by consumer confidence and restructuring efforts.

Sustainability Achievements

The company decreased its absolute Scope 1 and 2 emissions by 17% since 2019 and now uses over 14% renewable electricity.

Strong Balance Sheet

Net debt totaled $1.3 billion with a leverage ratio of approximately 0.65x, and nearly $3 billion in total cash and available credit.

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Pilgrim's Pride (DE:6PP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:6PP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 01, 2018	2018 (Q2)	- / 0.51	0.902	-43.01% (-0.39)	―	―
Oct 31, 2018	2018 (Q3)	- / 0.20	0.95	-78.57% (-0.75)	―	―
Feb 13, 2019	2018 (Q4)	- / 0.09	0.546	-84.01% (-0.46)	―	―
May 01, 2019	2019 (Q1)	- / 0.34	0.514	-33.96% (-0.17)	―	―
Jul 31, 2019	2019 (Q2)	- / 0.67	0.514	30.19% (+0.16)	―	―
Oct 30, 2019	2019 (Q3)	- / 0.44	0.204	114.29% (+0.23)	―	―
Feb 20, 2020	2019 (Q4)	- / 0.14	0.087	55.56% (+0.05)	―	―
Apr 29, 2020	2020 (Q1)	- / 0.18	0.339	-46.00% (-0.16)	―	―
Jul 29, 2020	2020 (Q2)	- / 0.00	0.669	―	―	―
Oct 28, 2020	2020 (Q3)	- / 0.64	0.436	46.67% (+0.20)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:6PP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 30, 2024	€44.00	€43.60	-0.91%
Jul 31, 2024	€38.00	€40.20	+5.79%
Feb 26, 2024	€26.20	€26.20	0.00%
Oct 25, 2023	€21.60	€21.80	+0.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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