Pilgrim's Pride Corporation Q3 Profit Increases, beats estimates

(RTTNews) - Pilgrim's Pride Corporation (PPC) revealed earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $258.35 million, or $1.08 per share. This compares with $60.73 million, or $0.25 per share, in last year's third quarter.

Excluding items, Pilgrim's Pride Corporation reported adjusted earnings of $260.73 million or $1.09 per share for the period.

Analysts on average had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.7% to $4.47 billion from $3.83 billion last year.

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

-Earnings (Q3): $258.35 Mln. vs. $60.73 Mln. last year. -EPS (Q3): $1.08 vs. $0.25 last year. -Analyst Estimate: $0.79 -Revenue (Q3): $4.47 Bln vs. $3.83 Bln last year.