Pilgrim’s reports $550 million 2013 profit

GREELEY – Greeley-based chicken processor Pilgrim’s Pride Corp. (Nasdaq: PPC) earned $143.4 million during the fourth quarter, a 529-percent improvement from the $22.8 million it earned during the same period a year earlier.

Fourth-quarter net sales reached $2.05 billion vs. $2.2 billion during the same quarter last year, the company said in an earnings statement Thursday. Pilgrim’s also reported $281.8 million in cash flow from fourth-quarter operations.

Pilgrim’s earned $549.6 million in 2013 and achieved $8.4 billion in net sales in 2013. In 2012, the company earned $174 million and posted net sales of $8.1 billion.

Greeley-based JBS USA, a subsidiary of Brazilian meatpacker JBS S.A., owns a controlling interest in Pilgrim’s Pride.

Pilgrim’s Pride shares rose 2 percent to close at $17.09 on Thursday.

Pilgrim’s will hold a conference call Friday to discuss its quarterly results.

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