Pilgrim’s Pride boosted fourth quarter performance, 2023 fiscal year saw declines

GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC), a Greeley-based poultry producer, increased its year-over-year sales and earnings in the fourth quarter of 2023, but the full 2023 fiscal year performance was down compared to 2022. 

The company posted net sales of $4.5 billion during the fourth of last year, up from $4.1 billion in the same period of 2023.

Adjusted earnings were $309.5 in the most recent period, up from $62.9 in the fourth quarter of 2022.

Pilgrim’s Pride posted net sales of $17.4 billion for the full 2023 fiscal year, down slightly from $17.5 in the prior year.

Adjusted earnings for those respective periods were $1.03 billion and $1.65 billion.

“While our business faced a unique set of challenging conditions in 2023, we persevered as our team members maintained a leadership mindset and elevated their focus and execution of our strategy. As a result, we demonstrated an ability to drive profitable growth even under the most difficult circumstances as our sales and adjusted EBITDA strengthened throughout the year and showed increased momentum as we entered 2024,” Pilgrim’s CEO Fabio Sandri said in a prepared statement.

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