Pilgrim’s Pride 4Q, 2014 earnings rise

GREELEY – Pilgrim’s Pride Corp. (Nasdaq: PPC) earned $167 million during the fourth quarter, up from $143 million during the same period a year earlier.

The Greeley-based chicken processor, in which JBS USA in Greeley owns a controlling interest, reported $2.1 billion in fourth-quarter net sales vs. $2.05 billion during the same quarter the prior year. CEO Bill Lovette said the company’s alliance with Brazilian meatpacker JBS S.A., JBS USA’s parent company, has helped the company generate sales in new foreign markets.

“Our affiliation with JBS is, of course, a competitive advantage, as it strengthens our insights into export markets,” Lovette said. “In the long-term, chicken produced in the U.S. will fill a key demand function for strong growth and protein consumption around the globe, especially in developing economies.”

For the year 2014, Pilgrim’s Pride earned $711 million, up from $550 million in 2013. The company posted $8.6 billion in sales in 2014 vs. $8.4 billion in 2013.

“We continue driving ownership and accountability deeper in our company, and we are developing new tools and methods to improve our efficiency, sales mix and margin,” Lovette said.

Lovette added that the company had identified $200 million in cost savings for 2015.

Pilgrim’s Pride shares rose less than a point to close at $25.97 on Thursday.

The company employs about 35,000 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico.

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