CEO: Pilgrim’s Pride exploring mergers, acquisitions

GREELEY – Pilgrim’s Pride shares were up Thursday after the Greeley-based chicken processor doubled its first quarter earnings and discussed its interest in mergers and acquisitions.

CEO Bill Lovette said in an earnings conference call that the company was busy determining valuations of potential mergers and acquisitions.

“We have an extremely strong balance sheet,” Lovette said. “We’re not afraid to look at a big deal.”

Pilgrim’s Pride shares rose about 1 percent to close at $22.05 Thursday afternoon. Company shares have more than doubled from a low of $9.90 a year ago.

The company posted $98.1 million in first-quarter net income…