Greeley, Colorado – Pilgrim’s Pride Corporation (NASDAQ: PPC), a leading global food company, has announced its first quarter 2025 financial results, reporting strong performance across its U.S., European, and Mexican operations.
The announcement details net sales of $4.5 billion and a consolidated GAAP operating income margin of 9.1%.
GAAP Net Income was reported at $296.3 million, or $1.24 per share, with Adjusted Net Income at $312.6 million, or $1.31 per share.
Adjusted EBITDA reached $533.2 million, representing a 12.0% margin.
“While facing volatility during the quarter, we maintained our focus on controlling the controllables and consistent execution of our strategies,” said Fabio Sandri, Pilgrim’s President and CEO. “We continued to cultivate Key Customer partnerships through differentiated offerings and a diversified portfolio in each of our geographies, reinforcing our foundation for profitable growth.”
Key highlights from the report include:
- U.S. Fresh: Strong demand across retail and foodservice, with improved operational efficiencies.
- U.S. Prepared Foods: Net sales grew over 20% year-over-year, driven by the Just Bare® brand, which continues to have the highest velocity and most growth in the retail fully cooked chicken category.
- Digitally-enabled sales: Grew over 35% from the prior year through partnerships with leading retailers, foodservice providers, and online suppliers.
- Pilgrim’s Europe: Continued to scale profitable growth through Key Customer partnerships, enhanced mix, and branded growth, with Richmond® and Fridge Raiders® volumes increasing faster than the category.
- Mexico: Sales volume increased by double digits compared to the prior year, driven by Key Customer growth in retail and foodservice. Value-added product offerings increased 9%.
Pilgrim’s reported a net leverage ratio of 1.1x of Adjusted EBITDA after payment of a $1.5 billion special dividend, maintaining a strong liquidity position and balance sheet flexibility.
The company is continuing to invest in projects to support the growth of its branded portfolio, meet increased Key Customer demand in Fresh, and reduce operational risk in protein conversion. Pilgrim’s also continues to drive sustainability through operational efficiencies and supply chain engagement.
Pilgrim’s Pride employs approximately 62,600 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, the Republic of Ireland and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors.
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