February 18, 2013
Pilgrim's Pride reports solid conclusion to fiscal 2012
Pilgrim's Pride Corporation reported fourth quarter 2012 results with net sales of US$2.2 billion, earnings before interest, taxes, depreciation and amortisation (EBITDA) of $64.4 million and net income of $22.8 million, resulting in earnings per share of US$0.09 for the quarter.
For the full 2012 fiscal year, the company achieved US$8.1 billion in net sales and US$393.9 million of EBITDA. Pilgrim's recognised US$174.2 million in net income for the year, or US$0.70 per weighted average share, making it one of the company's best results in recent years. Net debt declined to US$1.1 billion during the period, reflecting a year-to-date reduction of US$327.8 million.
"The results achieved in 2012 point to a determined and disciplined execution of the strategy we implemented over a year and half ago. Through our team members' efforts, we have improved our competitive position significantly over the past two years and we believe we are well positioned for that to continue," stated Bill Lovette, Pilgrim's chief executive officer.
Pilgrim's operates chicken processing plants and prepared-foods facilities in 12 states in the US, Puerto Rico and Mexico. The Company's primary distribution is through retailers and foodservice distributors.
