Pilgrim’s Pride Q1 Sales Rise 1.6% to $4.53B as EPS Slumps 65%
Pilgrim’s Pride delivered first-quarter net sales of $4.53 billion, up 1.6% year-over-year, despite a 65% drop in GAAP EPS to $0.43. Adjusted EPS was $0.51 and adjusted EBITDA totaled $308.1 million on a 6.8% margin, while retail sales of Just Bare rose nearly 40%.
1. Q1 Financial Results
Pilgrim’s Pride reported net sales of $4.5326 billion in the first quarter, a 1.6% increase from the prior year. GAAP net income fell to $101.5 million, or $0.43 per share, down from $1.24 per share a year earlier.
2. Profitability and Operational Drivers
Adjusted net income reached $121.7 million, translating to $0.51 per share, while adjusted EBITDA declined 42.2% to $308.1 million, yielding a 6.8% margin. U.S. Prepared Foods saw record retail volumes, led by a nearly 40% jump in Just Bare sales.
3. Balance Sheet and Growth Initiatives
The company maintained a net leverage ratio of 1.25x adjusted EBITDA, below its 2–3x target range. Construction of a new value-added facility in Walker County, Georgia, remains on schedule, and Scope 1 & 2 emissions targets for 2025 were exceeded.