Pilgrims Pride Q2 sales fall on softer chicken demand
PPC•Outlook
- Company expects investments in plant upgrades and operational improvements to mitigate commodity volatility
- Pilgrims Pride says expansion projects in the U.S. and Mexico remain on schedule
Overview
- U.S. poultry producer's Q2 sales declined 2.8% and missed analyst expectations
- Q2 adjusted EBITDA dropped 48% year-over-year and missed analyst expectations
- Company cites lower commodity pricing and supply growth outpacing demand for weaker results
Result drivers
- Lower commodity pricing - Co said profitability declined from the previous year due to reductions in commodity market pricing
- Supply outpacing demand - Co said supply growth rose faster than demand, putting pressure on margins
- Plant upgrades and productivity - Co said sequential margin improvement was supported by completion of plant upgrades and gains in live operations
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
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