July 26, 2005

US poultry giant registers record fiscal Q3 earnings
 

Pilgrim's Pride Corporation has reported a net income of US$85.4 million, or US$1.28/share, for its third fiscal quarter ending July 2, 2005. This was a year-on-year increase of US$75.6 million, or US$1.13/share.

Third fiscal quarter net sales totalled US$1.440 billion, a slight decrease compared with net sales of US$1.448 billion for the same period last year.

Cumulative net income for the first nine months of the fiscal year ending July 2, 2005, totalled US$190.3 million, or US$2.86/share, a year-on-year increase of US$137.2 million, or US$2.00/share.

Meanwhile, cumulative net sales for the same period totalled US$4.184 billion, a year-on-year increase of US$307 million.

The company attributed its record third fiscal quarter and first nine months' performance to increased protein demand, excellent results from its Mexican operations, and reduced feed ingredient costs.