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News Article | May 9, 2017
Site: globenewswire.com

GREELEY, Colo., May 09, 2017 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ:PPC) (the “Company”) announced today that the Company has entered into a credit agreement, effective May 8, 2017, for a new $750 million revolving credit facility and a term loan commitment of $800 million through a consortium of banks. The new facility replaces the Company's existing $700 million revolving facility and $500 million term loan commitment. The proceeds of the loans under the new term loan commitment repaid outstanding revolving borrowings. The maturity date of the new facility will be May 6, 2022. As of March 26, 2017, the Company had letters of credit of $42.7 million, $314.6 million outstanding revolving borrowings, and $500 million term loans outstanding under the replaced credit facility. Pilgrim’s employs approximately 41,900 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico and Mexico.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com. Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channel, including anti-dumping proceedings and countervailing duty proceedings; and the impact of uncertainties of litigation as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.


News Article | May 9, 2017
Site: globenewswire.com

GREELEY, Colo., May 09, 2017 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ:PPC) (the “Company”) announced today that the Company has entered into a credit agreement, effective May 8, 2017, for a new $750 million revolving credit facility and a term loan commitment of $800 million through a consortium of banks. The new facility replaces the Company's existing $700 million revolving facility and $500 million term loan commitment. The proceeds of the loans under the new term loan commitment repaid outstanding revolving borrowings. The maturity date of the new facility will be May 6, 2022. As of March 26, 2017, the Company had letters of credit of $42.7 million, $314.6 million outstanding revolving borrowings, and $500 million term loans outstanding under the replaced credit facility. Pilgrim’s employs approximately 41,900 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico and Mexico.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com. Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channel, including anti-dumping proceedings and countervailing duty proceedings; and the impact of uncertainties of litigation as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.


News Article | May 9, 2017
Site: globenewswire.com

GREELEY, Colo., May 09, 2017 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ:PPC) (the “Company”) announced today that the Company has entered into a credit agreement, effective May 8, 2017, for a new $750 million revolving credit facility and a term loan commitment of $800 million through a consortium of banks. The new facility replaces the Company's existing $700 million revolving facility and $500 million term loan commitment. The proceeds of the loans under the new term loan commitment repaid outstanding revolving borrowings. The maturity date of the new facility will be May 6, 2022. As of March 26, 2017, the Company had letters of credit of $42.7 million, $314.6 million outstanding revolving borrowings, and $500 million term loans outstanding under the replaced credit facility. Pilgrim’s employs approximately 41,900 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico and Mexico.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com. Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channel, including anti-dumping proceedings and countervailing duty proceedings; and the impact of uncertainties of litigation as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.


News Article | May 9, 2017
Site: globenewswire.com

GREELEY, Colo., May 09, 2017 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ:PPC) (the “Company”) announced today that the Company has entered into a credit agreement, effective May 8, 2017, for a new $750 million revolving credit facility and a term loan commitment of $800 million through a consortium of banks. The new facility replaces the Company's existing $700 million revolving facility and $500 million term loan commitment. The proceeds of the loans under the new term loan commitment repaid outstanding revolving borrowings. The maturity date of the new facility will be May 6, 2022. As of March 26, 2017, the Company had letters of credit of $42.7 million, $314.6 million outstanding revolving borrowings, and $500 million term loans outstanding under the replaced credit facility. Pilgrim’s employs approximately 41,900 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico and Mexico.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com. Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channel, including anti-dumping proceedings and countervailing duty proceedings; and the impact of uncertainties of litigation as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.


News Article | May 9, 2017
Site: globenewswire.com

GREELEY, Colo., May 09, 2017 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ:PPC) (the “Company”) announced today that the Company has entered into a credit agreement, effective May 8, 2017, for a new $750 million revolving credit facility and a term loan commitment of $800 million through a consortium of banks. The new facility replaces the Company's existing $700 million revolving facility and $500 million term loan commitment. The proceeds of the loans under the new term loan commitment repaid outstanding revolving borrowings. The maturity date of the new facility will be May 6, 2022. As of March 26, 2017, the Company had letters of credit of $42.7 million, $314.6 million outstanding revolving borrowings, and $500 million term loans outstanding under the replaced credit facility. Pilgrim’s employs approximately 41,900 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico and Mexico.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com. Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channel, including anti-dumping proceedings and countervailing duty proceedings; and the impact of uncertainties of litigation as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.


News Article | May 16, 2017
Site: www.prnewswire.com

Starting with premium-quality, boneless skinless thigh meat from chickens raised with No Antibiotics–Ever in Minnesota and Wisconsin, the chicken sausages feature real, whole ingredients such as bacon; cheeses like Gouda, aged Parmesan and Asiago; peppers; and herbs and spices. The product line is free of monosodium glutamate (MSG), fillers, preservatives, gluten, and artificial flavors and colors. The Hickory Smoked Apple, Italian Cheese & Peppers, Jalapeno Cheddar, and Spinach & Asiago varieties are also free from nitrates and nitrites. For today's health-conscious, protein-seeking consumers, the new sausages fit the bill with 13 to 15 grams of high-quality protein per link and up to 73 percent less fat than pork sausages. Plus, the products offer a traditional sausage texture with a coarse grind of chicken in a pork casing. Vacuum-packed for freshness, each 12-ounce package includes four, three-ounce links. The new sausage line will be sold in grocers' refrigerated fully cooked sausage section with suggested retail pricing of $5.99 per package. "Gold'n Plump is particularly excited that the new line will launch in time for backyard grill-outs," added Miller. "Grilling and tailgating enthusiasts will love the bold flavors, juicy bite and quick cooking convenience of Gold'n Plump fully cooked chicken sausages." The release of the five new flavors comes as Gold'n Plump kicks off a campaign to raise awareness of the brand. The Gold'n Plump chicken sausages launch will be supported with digital, social media and out-of-home advertising (appearing at select University of Minnesota Gopher football games and Metro Transit light rail stations in its home market of Minnesota this fall). Recipes and product information is available on the Gold'n Plump website and social media channels. The product line will also be promoted in select grocery stores with sampling and coupon offers. About Gold'n Plump® Chicken | Good Chicken is Our Mission® Gold'n Plump® is distributed nationally by Pilgrim's Pride. The Gold'n Plump brand's good chicken mission centers on being truly all natural, highly trimmed and free of unwanted solution, skin and parts. The Gold'n Plump All Natural line also boasts attributes of No Antibiotics-Ever and American Humane CertifiedTM farm program seal. To learn more about the Gold'n Plump brand and its products, as well as find great recipes, general cooking and safe handling tips and nutrition information, visit www.GoldnPlump.com. Find Gold'n Plump on Facebook, Pinterest, Twitter and YouTube. About Pilgrim's Pride Pilgrim's employs approximately 41,400 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico and Mexico. The Company's primary distribution is through retailers and foodservice distributors. For more information, please visit www.pilgrims.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/new-goldn-plump-fully-cooked-chicken-sausages-line-offers-bold-on-trend-flavors-300457854.html


“Our Q2 results materially improved from last quarter as well as from a year ago driven by much stronger results at our U.S. operations while Mexico continued to perform very well. Demonstrating the diversity of our portfolio of bird sizes; while small bird and tray-pack remained robust during the period, our team captured the strength in the large bird deboning environment, which significantly rebounded after a slower than expected start earlier in the year, driven by stronger exports and very good domestic demand as the grilling season kicked off. This portfolio approach is working well and is what fundamentally differentiates us from the competition, giving us the potential to reduce volatility and generate higher margins over time. This summer has brought strong demand for grilling season and we see continuation of chicken as a choice protein in domestic and international markets,” stated Bill Lovette, Chief Executive Officer of Pilgrim's. “We continue to search for solutions in delivering more differentiated customized products that are innovative to satisfy our key customers’ needs. We currently have market leading positions in USDA-certified organic and NAE, two segments that resonate very well with new consumer trends for more natural products while adding more value to our portfolio. We also have the potential to expand into new segments with our broad channel approach using the Gold’n Plump brand as well as the new premium Just BARE chicken in the “better for you” category.” A conference call to discuss Pilgrim’s quarterly results will be held tomorrow, August 3, at 7:00 a.m. MT (9 a.m. ET).  Participants are encouraged to pre-register for the conference call using the link below.  Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator.  Participants may pre-register at any time, including up to and after the call start time. To pre-register, go to: http://services.choruscall.com/links/ppc170803.html You may also reach the pre-registration link by logging in through the investor section of our website at www.pilgrims.com and clicking on the link under “Upcoming Events.” For those who would like to join the call but have not pre-registered, access is available by dialing +1 (844) 883-3889 within the US, or +1 (412) 317-9245 internationally, and requesting the “Pilgrim’s Pride Conference.” Please note that to submit a question to management during the call, you must be logged in via telephone. Replays of the conference call will be available on Pilgrim’s website approximately two hours after the call concludes and can be accessed through the “Investor” section of www.pilgrims.com. The webcast will be available for replay through November 3, 2017. Pilgrim’s employs approximately 42,000 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico and Mexico.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com. Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channel, including anti-dumping proceedings and countervailing duty proceedings; and the impact of uncertainties of litigation as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. “EBITDA” is defined as the sum of net income (loss) plus interest, taxes, depreciation and amortization.  “Adjusted EBITDA” is calculated by adding to EBITDA certain items of expense and deducting from EBITDA certain items of income that we believe are not indicative of our ongoing operating performance consisting of: (i) income (loss) attributable to non-controlling interests, (ii) restructuring charges, (iii) reorganization items, (iv) losses on early extinguishment of debt and (v) foreign currency transaction losses (gains). EBITDA is presented because it is used by management and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of results prepared in conformity with accounting principles generally accepted in the US (“GAAP”), to compare the performance of companies.  We believe investors would be interested in our Adjusted EBITDA because this is how our management analyzes EBITDA.  The Company also believes that Adjusted EBITDA, in combination with the Company’s financial results calculated in accordance with GAAP, provides investors with additional perspective regarding the impact of certain significant items on EBITDA and facilitates a more direct comparison of its performance with its competitors.  EBITDA and Adjusted EBITDA are not measurements of financial performance under GAAP.  They should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measures of performance derived in accordance with GAAP. The summary unaudited consolidated income statement data for the twelve months ended June 25, 2017 (the LTM Period) have been calculated by subtracting the applicable unaudited consolidated income statement data for the six months ended June 26, 2016 from the sum of (1) the applicable audited consolidated income statement data for the year ended December 25, 2016 and (2) the applicable audited consolidated income statement data for the six months ended June 25, 2017. EBITDA margins have been calculated by taking the relevant unaudited EBITDA figures, then dividing by Net Revenue for the applicable period. A reconciliation of net income (loss) attributable to Pilgrim's Pride Corporation per common diluted share to adjusted net income (loss) attributable to Pilgrim's Pride Corporation per common diluted share is as follows: A reconciliation of GAAP earnings per share (EPS) to adjusted earnings per share (EPS) is as follows: Net debt is defined as total long term debt less current maturities, plus current maturities of long term debt and notes payable, minus cash, cash equivalents and investments in available-for-sale securities.  Net debt is presented because it is used by management, and we believe it is frequently used by securities analysts, investors and other parties, in addition to and not in lieu of debt as presented under GAAP, to compare the indebtedness of companies.  A reconciliation of net debt is as follows:


(1)  Reconciliations for non-GAAP measures are provided in subsequent sections within this release. “During Q3, our Fresh business continued to perform well driven by our differentiated portfolio strategy of having presence in all three bird sizes and strong relationships with key customers. Retail demand for our birds remained robust despite concerns about greater availability of other competing proteins. Within exports, volumes are also improving from a year ago, which improves value for the back half of the bird, and supportive of the overall cutout,” stated Bill Lovette, Chief Executive Officer of Pilgrim's. “The conversion of our existing facility to certified USDA organic chicken production is proceeding well and we plan to have the first chicken to market in Q1 of 2017. Additionally, we are starting work on converting one of our case-ready plants to produce ABF, veg-fed chicken. Together with our prior announcements on organic and ABF Fresh chicken as well as further processed products, we believe the latest conversion reinforces our strategy to better resonate with new consumer trends for more natural products while adding further value to our portfolio and supporting the growth of key customers. Furthermore, these investments signify our commitment to look for new sources of potential earnings driver while lessening the impact of volatile commodity markets in the long run.” “Market environment in Mexico during Q3 followed its normal seasonality and our team members were relentless and continued to improve on the operating performance of the legacy business as well as implement synergies with the newly acquired assets. Despite the impact of unfavorable grain cost and exchange rate, our profitability in Mexico has remained steady compared to last year, which is a positive sign of the potential leverage we have within our operations. The outlook for Mexico remains very strong and we will continue to grow our offerings in the region, together with leveraging our strong fresh brand to leverage the growth of our Prepared Foods business.” A conference call to discuss Pilgrim’s quarterly results will be held tomorrow, October 27, at 7:00 a.m. MT (9 a.m. ET).  Participants are encouraged to pre-register for the conference call using the link below.  Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator.  Participants may pre-register at any time, including up to and after the call start time. To pre-register, go to: http://services.choruscall.com/links/ppc161027.html You may also reach the pre-registration link by logging in through the investor section of our website at www.pilgrims.com and clicking on the link under “Upcoming Events.” For those who would like to join the call but have not pre-registered, access is available by dialing +1 (844) 883-3889 within the US, or +1 (412) 317-9245 internationally, and requesting the “Pilgrim’s Pride Conference.” Please note that to submit a question to management during the call, you must be logged in via telephone. Replays of the conference call will be available on Pilgrim’s website approximately two hours after the call concludes and can be accessed through the “Investor” section of www.pilgrims.com. The webcast will be available for replay through January 27, 2017. Pilgrim’s employs approximately 38,200 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com. Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channel, including anti-dumping proceedings and countervailing duty proceedings; and the impact of uncertainties of litigation as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. “EBITDA” is defined as the sum of net income (loss) plus interest, taxes, depreciation and amortization.  “Adjusted EBITDA” is calculated by adding to EBITDA certain items of expense and deducting from EBITDA certain items of income that we believe are not indicative of our ongoing operating performance consisting of: (i) income (loss) attributable to non-controlling interests, (ii) restructuring charges, (iii) reorganization items, (iv) losses on early extinguishment of debt and (v) foreign currency transaction losses (gains). EBITDA is presented because it is used by management and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of results prepared in conformity with accounting principles generally accepted in the US (“GAAP”), to compare the performance of companies.  We believe investors would be interested in our Adjusted EBITDA because this is how our management analyzes EBITDA.  The Company also believes that Adjusted EBITDA, in combination with the Company’s financial results calculated in accordance with GAAP, provides investors with additional perspective regarding the impact of certain significant items on EBITDA and facilitates a more direct comparison of its performance with its competitors.  EBITDA and Adjusted EBITDA are not measurements of financial performance under GAAP.  They should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measures of performance derived in accordance with GAAP. The summary unaudited consolidated income statement data for the twelve months ended September 25, 2016 (the LTM Period) have been calculated by subtracting the applicable unaudited consolidated income statement data for the nine months ended September 27, 2015 from the sum of (1) the applicable audited consolidated income statement data for the year ended December 27, 2015 and (2) the applicable audited consolidated income statement data for the nine months ended September 25, 2016. EBITDA margins have been calculated by taking the relevant unaudited EBITDA figures, then dividing by Net Revenue for the applicable period. A reconciliation of net income (loss) attributable to Pilgrim's Pride Corporation per common diluted share to adjusted net income (loss) attributable to Pilgrim's Pride Corporation per common diluted share is as follows: A reconciliation of GAAP earnings per share (EPS) to adjusted earnings per share (EPS) is as follows: Net debt is defined as total long term debt less current maturities, plus current maturities of long term debt and notes payable, minus cash, cash equivalents and investments in available-for-sale securities.  Net debt is presented because it is used by management, and we believe it is frequently used by securities analysts, investors and other parties, in addition to and not in lieu of debt as presented under GAAP, to compare the indebtedness of companies.  A reconciliation of net debt is as follows:


News Article | February 27, 2017
Site: globenewswire.com

GREELEY, Colo., Feb. 27, 2017 (GLOBE NEWSWIRE) -- Pilgrim's Pride Corporation (NASDAQ:PPC) will host its annual meeting of shareholders on Friday, April 28, 2017, at 8 a.m. Mountain / 10 a.m. Eastern. This meeting, which will include a review of fiscal year 2016 and other business as may be properly brought before the meeting, will take place at Pilgrim's Pride Corporation headquarters at 1770 Promontory Circle in Greeley, Colorado.  Pilgrim’s employs approximately 41,400 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico and Mexico.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com.


News Article | February 8, 2017
Site: globenewswire.com

Sarasota, FL, Feb. 08, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Processed Meat Market (Cured Processed, Uncured Processed and Others) by Meat Type (Poultry, Pork, Mutton, Beef and Other); by Types (Chilled Processed Meat, Frozen Processed Meat, Canned/Preserved Meat and Meat Products and Frozen Processed Red Meat): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”.  According to the report, the global processed meat market was valued at around USD 714.00 billion in 2016 and is expected to reach approximately USD 1,567.00 billion by 2022, growing at a CAGR of around 14.0% between 2017 and 2022. Processed meat is derived from the processing and treatment of meat to prolong its shelf life and to enhance its taste. Meat is mainly processed to improve its shelf life, quality and preserve it from decay and to add flavors to its original composition. Browse through 82 Market Tables and 25 Figures spread through 110 Pages and in-depth TOC on “Global Processed Meat Market: By Type, Product, Size, Share, Trends, Segments, Analysis, Segment and Forecast 2016 – 2022”. Processed meat is expected to exhibit high gains in light of increasing demand for processed meat coupled with increasing disposable income in emerging countries. Moreover, rising consumer awareness regarding animal protein rich diet and large varieties of processed meat available in the market at lower prices is further expected to boost the demand for processed meat. However, health awareness regarding consumption of processed meat due to its side effects may curb the market growth. Nonetheless, meat consumption in developing countries is continuously increasing. Thus, increasing demand from emerging economies is expected to open up new growth opportunities within the forecast period. Some of the key products include cured processed, uncured processed and others. In terms of volume, cured processed was the largest segment and is expected to witness exponential growth in the near future. These products contain nitrites, which used to prevent the growth of pathogenic bacteria and increase the shelf life of the meat. Uncured poultry meat is another key outlet of this market. Browse the full "Processed Meat Market (Cured Processed, Uncured Processed and Others) by Meat Type (Poultry, Pork, Mutton, Beef and Other); by Types (Chilled Processed Meat, Frozen Processed Meat, Canned/Preserved Meat and Meat Products and Frozen Processed Red Meat): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/processed-meat-market Processed meat market can be categorized on the basis of meat type into poultry, pork, mutton, beef and other processed meat. Processed poultry dominated the segment of this market and it accounted for significant share of the overall market in 2016. Processed pork is expected to witness the fastest growth over the years to come. This growth can be attributed to growing demand for different processed pork products such as sausages, bacon, hamburgers, and trotters. Based on types, the processed meat market can be segmented into chilled processed meat, frozen processed meat, canned/preserved meat and meat products and frozen processed red meat. Chilled processed meat was the leading segment and is expected to show strong growth within the forecast period. This is mainly due to increase demand for quick meal. Frozen processed meat is also expected to show significant growth in the years to come. Inquire more about this report @ https://www.zionmarketresearch.com/inquiry/processed-meat-market North America’s dominance in the processed meat market is expected to continue in the years to come, primarily driven by the U.S. market. North America accounted for over 30% share of total market share in 2016. Increasing population coupled with high demand for protein products is further expected to drive the market growth in the years to come. Increasing consumption of red meat in Mexico is expected to have a positive impact on the growth of the market. Asia Pacific is another key market in the global processed meat market. This growth is mainly attributed to strong economic growth coupled with increasing demand for processed meat. Moreover, increasing in food service and retail industry in Asia has led to increased supply of processed meat products. China over the last decade has emerged as the largest consumer of processed meat market. In Europe consumption of processed meat has slowed down due to increasing awareness among the people about the health hazards of processed meat. Russia is expected to witness the fastest growth rate in Europe on account of increasing demand for processed meat. Middle East & Africa is estimated to witness significant growth during the forecast period. Increasing demand for instant food has, in turn, made the region a potential growth of processed meat market. Latin America is another key region expected to exhibit substantial growth in the years to come. The Latin America processed meat market is led by Brazil. Also, rising demand for meat as a source of protein is expected to drive the market growth in the near future. Some of the key players operating in this market such as JBS SA, Pilgrims Pride Corp., Sysco Corp., Advance Pierre Foods, Hormel Food, Tyson Foods Inc., Cargill Inc., Keystone Foods, Sanderson farms, BRF S.A., Marfrig Group and others. The major players in the market are focused on the expansion of the business by different new strategies such as setting up the new plant to increase production capacity and also extending the product line. For more inquiry contact our sales team @ sales@zionmarketresearch.com This report segments the global processed meat market as follows: Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

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