Pilgrim's Pride Q4 Adj Profit Rises

(RTTNews) - Pilgrim's Pride Corp. (PPC) reported fourth-quarter net income attributable to the company of $92.08 million or $0.37 per share, compared to a loss of $7.32 million or $0.03 per share in the prior year.

Adjusted net income attributable to Co increased to $35.38 million or $0.14 per share from $21.33 million or $0.09 per share in the prior year.

Quarterly net sales rose 15.3 percent to $3.06 billion from $2.66 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share on revenues of $2.93 billion for the quarter. Analysts' estimates typically exclude special items.

Operating income surged to $85.8 million from prior year's $23.6 million, while Adjusted EBITDA rose to $161.6 million from $111.0 million in the same period last year.