Why Poultry Producer Pilgrim’s Pride Shares Are Surging Today



Pilgrims Pride Corp (NASDAQ:PPC) reported fourth-quarter fiscal 2023 sales growth of 9.7% year-over-year to $4.528 billion, beating the consensus of $4.47 billion.

Adjusted EBITDA for the quarter increased to $309.5 million from $62.9 million a year ago. Margin expanded 530 bps to 6.8%.

Adjusted EPS was $0.59, an improvement from $(0.49), above the consensus of $0.40.

The company’s operating income recovered to $184.3 million from an operating loss of $(77.5) million a year ago, and the margin was 4.1%.

“While we’ve improved profitability throughout the year, we recognize that speed to market with our diversified …

Full story available on Benzinga.com


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