July 12, 2005

Pilgrim's Pride ups profit forecast for Q3

US poultry giant, Pilgrim's Pride Corporation, has raised its Q3 profit forecast after its US and Mexico operations recently performed better than expected.

The company increased its Q3 earnings guidance to US$1.17-1.22/share from US$0.81-1.00/share.

Q4 earnings outlook would be maintained at US$0.73-0.91 for the moment.

Analysts expected the company's Q3 and Q4 earnings to be at US$0.93/share and US$0.85/share respectively.