Pilgrim’s Pride posts uptick in first-quarter sales, income

GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) on Wednesday reported an increase in revenue and income for its first quarter, which ended March 31.

The Greeley-based operator of chicken-processing plants and prepared-food facilities reported sales of $2.05 million for the quarter compared with $2.02 billion for the same quarter last year.

Net income for the quarter was $204.2 million, a 108 percent increase compared with $98.1 million for the same period a year ago. Earnings per share were 82 cents compared with 39 cents for the same period a year ago.

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“We are pleased to report we are off to a strong start in 2015 in the U.S. and Mexico despite some challenges in Q1,” said Pilgrim’s chief executive Bill Lovette, in a prepared statement.

“While we saw some softness in export markets, we believe these issues are temporary and will be resolved over time. Despite certain challenging market conditions for some cuts, overall cutout pricing has remained strong,” he said.

Pilgrim’s Pride employs approximately 35,000 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico.

Earlier this month, a disgruntled former contractor was arrested and accused of killing more than 325,000 chickens raised by farmers in rural South Carolina who contract with Pilgrim’s Pride.

Clarendon County sheriff’s deputies arrested chicken grower James Laverne Lowery. Deputies said Lowery killed the chickens after Pilgrim’s Pride terminated a contract with him.

Any effects of the killings on earnings would appear in Pilgrim Pride’s for its second quarter that ends in June.