Pilgrim's Pride Corporation Q2 Profit Decreases, but beats estimates

(RTTNews) - Pilgrim's Pride Corporation (PPC) announced earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $60.5 million, or $0.25 per share. This compares with $362.1 million, or $1.50 per share, in last year's second quarter.

Excluding items, Pilgrim's Pride Corporation reported adjusted earnings of $105.3 million or $0.44 per share for the period.

Analysts on average had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.9% to $4.31 billion from $4.63 billion last year.

Pilgrim's Pride Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $60.5 Mln. vs. $362.1 Mln. last year. -EPS (Q2): $0.25 vs. $1.50 last year. -Analyst Estimates: $0.30 -Revenue (Q2): $4.31 Bln vs. $4.63 Bln last year.