Pilgrim’s Pride reports sharp profit decline due to export restrictions

GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) on Wednesday reported a sharp decline in profit for its third quarter that ended Sept. 30.

The Greeley-based operator of chicken-processing plants and prepared-foods facilities posted profit of $137.1 million, or 58 cents per share, a 46 percent decline compared with $256 million in profit and $1.01 per share for the same period a year ago.

The company, in a prepared statement, said it was hurt by export restrictions following a bird-flu outbreak.

“We expect export markets to gradually reopen soon depending on the domestic (avian influenza) situation,” Bill…