The poultry group Pilgrim’s Pride has posted a 47% fall in first-quarter net income from US$48.5m, or $0.73 per share, to $25.7m, or $0.39 a share. The company said earnings for the quarter had been hit by a weaker performance from its Mexican operations and higher fuel costs.


Sales for the quarter to the end of December fell marginally to $1.34bn, from $1.37bn in the first quarter of the previous fiscal year.


“We delivered a solid performance in the first quarter, resulting in our second best first fiscal quarter in our company’s public history dating back to 1986,” said O.B. Goolsby, the company’s president and CEO. “This quarter reflected continued growth in our prepared food business and stable input costs as feed ingredient costs have remained in prior year ranges. Our Mexico operations suffered as the traditional bump we see during the Christmas holiday season did not live up to typical patterns. Also, higher energy related costs and lower sales prices, primarily for chicken leg quarters in our US operations, negatively impacted our performance.”


Pilgrim’s Pride has forecast earnings of between $0.25 and $0.35 per share for the second quarter, and $2 to $2.50 a share for the 2006 fiscal year. The company’s forecasts fall below previous analysts’ forecasts of around $0.55 cents a share for the second quarter and $2.72 a share for the full year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.