Pilgrim's Pride Third-Quarter Net Sales Fall 2.2% to $4.65 Billion as Net Income Drops to $116.3 Million
Pilgrim's Pride Corporation (Nasdaq: PPC), one of the world's leading food companies, reported third-quarter 2026 results on October 28 in Greeley, Colorado. Net sales were $4,653.2 million, down 2.2% from $4,759.3 million a year earlier. GAAP net income was $116.3 million and GAAP earnings per share were $0.49, compared with $1.44 a year earlier; adjusted net income was $117.7 million.
Profitability fell sharply. Operating income was $191.5 million, down 61.1%, for a margin of 4.1%, and adjusted EBITDA was $316.3 million, a 6.8% margin, with margins of 6.9% in the U.S., 7.4% in Europe and 4.9% in Mexico. The company said U.S. Department of Agriculture data show U.S. chicken supply rose 2.2% year over year, outpacing demand growth and pressuring commodity cutout values.
In the U.S., fresh chicken benefited from a differentiated product mix and improvements in live operations and yields, partly offsetting lower prices, while volumes held steady versus the prior quarter. U.S. Prepared Foods volumes rose more than 15% year over year, and the Just Bare brand's retail sales grew more than 25% as it continued to lead the fully cooked chicken category. Construction of the new prepared foods facility in Walker County, Georgia remains on track, with commissioning expected in the second half of 2027. Europe sales and volumes were stable, and in Mexico fresh branded retail offerings grew more than 40%.
The company said its net leverage ratio is 1.76 times adjusted EBITDA, below its target range of 2 to 3 times, and that it maintains a strong liquidity position to support future growth opportunities.
President and CEO Fabio Sandri said the company's differentiated portfolio of chicken products continued to experience strong demand as affordability and convenience remain priorities among consumers across all regions, and that the company remains focused on its investments and strategies to drive profitable growth and adapt its portfolio to changing conditions.
Source: GSM · USA (original Chinese edition)
Photo: 图：养殖场内的肉鸡正在采食饮水（资料图）。照片：Icem4k 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Broiler chickens feeding and drinking on a farm (illustrative photo). Photo: Icem4k, CC BY-SA 4.0, via Wikimedia Commons.
