Agribusiness  May 3, 2024

Pilgrim’s Pride plumps sales, income in first quarter

GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC), a Greeley-based poultry producer, boosted its year-over-year sales in the first quarter of 2024 and fattened up its operating income significantly.

The company posted net sales of $4.36 billion in the first quarter, up 4.7% year over year.

Operating income in the most-recent period skyrocketed to $250.3 million from $31.3 million in the first quarter of 2023. 

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“Although we experienced depressed market conditions and persistent consumer inflation throughout 2023, we saw this as opportunity to enhance our competitive advantage,” Pilgrim’s CEO Fabio Sandri said in a prepared statement. “To that end, we focused on consistent execution of our strategies, controlling what we can control, and maintaining investment in our operations. These efforts further strengthened our business, accelerating our profitable growth as market conditions evolved.”

Pilgrim’s Pride’s stock price, which closed at $36.28 Friday, has been on a tear in 2024, up nearly 27% since the year began.

Lucas High
A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
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