Pilgrim’s Pride beats revenue, EPS estimates on Mexico demand
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) shares rose just north of 8 percent Wednesday after quarterly earnings show chicken popularity benefitted from U.S.-Mexico trade tensions.
The Greeley-based chicken producer posted $2.84 billion in revenue, $170.1 million in net income and $0.68 in earnings per share, according to quarterly filings with the U.S. Securities and Exchange Commission.
Those beat analyst consensus revenue estimates by $1.43 million by 8 cents per share.
Chicken gained popularity compared to pork in Mexico after the Mexican government placed a 20 percent tariff on the commodity last June in response…
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