Pilgrim's Pride Corporation Q1 Earnings Decline 45%

(RTTNews) - Pilgrim's Pride Corporation (PPC) released a profit for first quarter that lost ground from last year.

The company said its earnings came in at $118.14 million, or $0.46 per share. This was down from $213.26 million, or $0.82 per share, in last year's first quarter.

Analysts had expected the company to earn $0.42 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.4% to $1.96 billion. This was down from $2.05 billion last year.

Pilgrim's Pride Corporation earnings at a glance:

-Earnings (Q1): $118.14 Mln. vs. $213.26 Mln. last year. -Earnings Decline (Y-o-Y): -44.6% -EPS (Q1): $0.46 vs. $0.82 last year. -EPS Decline (Y-o-Y): -43.9% -Analysts Estimate: $0.42 -Revenue (Q1): $1.96 Bln vs. $2.05 Bln last year. -Revenue Change (Y-o-Y): -4.4%