USA: Pilgrim's Pride Corporation issues earnings guidance for the second quarter of Fiscal 2001
Pilgrim's Pride Corporation (NYSE: CHX, CHX.A) yesterday announced that it expects to report a loss of $0.25 - $0.28 cents per share for its second fiscal quarter ending March 31, 2001 compared to a profit of $0.22 cents per share for the same period last year. The primary factor affecting this year's second quarter when compared to the prior year is the expected $0.32 - $0.35 cents per share reduction in the profitability of the Company's Mexico operations resulting primarily from lower selling prices caused by industry-wide increases of chicken production in Mexico. In addition, domestic results are expected to be negatively impacted by January ice storms in Arkansas, higher energy and feed ingredient costs and losses realized in the former WLR Foods, Inc. operations acquired by the Company on January 27, 2001.
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