Shares of Pilgrims Pride (NASDAQ:PPC) fell 5% in after-market trading after the company reported Q2 results.
Earnings per share decreased 100.00% year over year to ($0.00), which missed the estimate of $0.14.
Revenue of $2,824,000,000 declined by 0.67% from the same period last year, which missed the estimate of $2,950,000,000.
Earnings guidance hasn't been issued by the company for now.
Revenue guidance hasn't been issued by the company for now.
Company's 52-week high was at $33.67
Company's 52-week low was at $15.34
Price action over last quarter: down 30.18%
Pilgrim's Pride is the second- largest poultry producer in the U.S. (67% of 2019 sales), the U.K. (21%), and Mexico (12%). The 2019 purchase of Tulip Limited, the U.K.'s largest hog producer, marks the firm's entrance into the pork market, which we expect to represent about 10% of sales. Pilgrim sells its protein to chain restaurants, food processors, and retail chains, under brand names Pilgrim's, Country Pride, Gold'n Plump, and Just Bare. Channel exposure is split evenly between retail and food service, with the majority of food-service revenue coming from quick-service restaurants. JBS owns 79% of Pilgrim's outstanding shares.
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