Pilgrim’s Pride Boosts 49% First Quarter Earnings $ 100.2 Million – Época Negócios

North American Wizard Chicken meat Pilgrim’s Pride, controlled by the Brazilian company JBSThe company made a net profit of $ 100.2 million, or $ 0.41 per share, in the first quarter of this year, the company said on Wednesday 28. The result represents an increase of 49% compared to the same period last year, as the company made a profit of $ 67.27 million. , Or $ 0.27 per share. Adjusted, earnings were $ 103.05 million, or $ 0.42 per share, compared to $ 28.92 million, or $ 0.12 per share, the previous year.

Adjusted Ebitda (EBITDA) increased 53.4% ​​to $ 253.8 million. Ebitda’s adjusted margin grew by 2.4 percentage points, from 5.4% to 7.8%. Net revenue grew 6.5% to $ 3.27 billion, while net sales in the US increased 3.77% to $ 2 billion. Pilgrims said in a statement that demand in the United States continued to recover during the first quarter, with an improvement in the food services sector and strong performance of the retail and fast food sector, despite bad weather events and a shortage of manpower. .

Pilgrim said operations in Mexico maintained the good results seen in the second half of 2020. Net state revenue increased 28.7% to $ 419 million. The company stated that the improvement in economic conditions, the balance of supply and demand and the increase in participation in non-commodity products contributed to the performance.

Net revenue in Europe and the United Kingdom grew 3.95% to $ 854.7 million. According to Pilgrim’s, operational improvements outweighed by rising animal feed costs, reduced food service sector volumes and mitigation costs for covid-19.