Pilgrim’s Pride Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 net sales $4.7 billion, down 2.2% year over year
- ➤Q3 GAAP EPS $0.49, down 66.0% year over year
- ➤Q3 Adjusted EBITDA $316.3 million, down 50.0% year over year
- ➤U.S. Prepared Foods volumes rose over 15% versus last year
- ➤Walkers Deli & Sausage acquisition expected to close in early 2027
Expert Statements
Fabio Sandri, President and CEO of Pilgrim’s Pride
“During the quarter, our differentiated portfolio of chicken products continued to experience strong demand as affordability and convenience continues to be priority among consumers across all regions”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“We remain focused on our investments and strategies to drive profitable growth and adapt our portfolio to changing conditions.”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“While consumers maintained their interest in chicken across retail and foodservice, the market experienced a significant increase in supply”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“We continue to improve the efficiency of our operations and given recent investments, we’ve created a more balanced portfolio better equipped to mitigate impacts of volatile commodity values.”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“Innovation remains a key pillar of growth within Prepared Foods, and the recent Pilgrim’s(®) launch of Flamin’ Hot(®) demonstrates our ability to generate meaningful consumer excitement with industry leading partners”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“When combined with the momentum of Just Bare(®), these efforts will further strengthen our portfolio and drive sustainable growth.”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“Our diversified portfolio continues to draw consumers seeking value”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“To that end, we’ll continue investing in our poultry supply chain to expand our presence. Additional opportunities exist to drive sales growth and enhance margins in our pork business through the pending Walkers acquisition.”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“While conditions in Mexico have been challenging throughout the year, we continue to improve our operational excellence, diversify our portfolio through branded offerings, and strengthen Key Customer partnerships”
Fabio Sandri, President and CEO of Pilgrim’s Pride
“Our ongoing investments will further reinforce our ability to reduce volatility and drive sales growth.”
GREELEY, Colo., Oct. 28, 2026 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ: PPC), one of the world's leading food companies, reports its third quarter 2026 financial results.
Third Quarter Highlights * Net Sales of $4.7 billion. * Consolidated GAAP Operating Income margin of 4.1%. * GAAP Net Income of $116.3 million and GAAP EPS of $0.49. Adjusted Net Income of $117.7 million, and Adjusted EPS of $0.49. * Adjusted EBITDA of $316.3 million, or a 6.8% margin, with Adjusted EBITDA margins of 6.9% in the U.S., 7.4% in Europe, and 4.9% in Mexico. * U.S. Fresh benefited from its differentiated product mix and improvements in live operations and yield efficiencies throughout the quarter to partially compensate for declines in commodity cutout values. Volumes remained steady compared to previous quarter given promotional support and increased distribution, offsetting the impact of planned downtime from the investment in Pilgrim’s Ellijay, Ga., plant to grow in the small bird debone segment. * U.S. Prepared Foods accelerated its marketplace momentum as volumes rose over 15% compared to last year. Just Bare(®) continues to lead growth in the fully cooked chicken category as retail sales grew by over 25% versus prior year. Construction of the new prepared foods facility in Walker County, Ga., remains on track with commission expected in the second half of 2027. * Europe sales and volumes remained stable as affordability of poultry and meal offerings continued to resonate in the marketplace, while inflationary pressures and impacts of excess pork imports from European countries continue to be a challenge. The approval process for the acquisition of Walkers Deli & Sausage continues to progress with an anticipated close in early 2027. * Mexico’s fundamentals in the live commodity market improved from previous quarters despite extensive availability of protein in the country. Sales grew as fresh branded offerings in retail increased by over 40% compared to last year. Growth and geographical diversification with ramp-up of operations in the Merida region and the Southern Peninsula remains on schedule. * Pilgrim’s published an update of its sustainability efforts through 2025 that detailed progress on its environmental, social, and governance ambitions. Since 2019, Pilgrim’s has reduced its global Scope 1 & 2 emissions intensity by over 20%. During the past year, the company continued to cultivate an environment for team member safety and well-being as the Global Safety Index has improved over 60% compared to last year, and more than 6 million training hours were provided during 2025. * Maintained strong liquidity position to support future growth opportunities as the company’s net leverage ratio is currently 1.76x Adjusted EBITDA, below the target of 2x to 3x. (Unaudited) Three Months Ended Nine Months Ended September 27, 2026 September 28, 2025 Y/Y Change September 27, 2026 September 28, 2025 Y/Y Change (In millions, except per share and percentages)
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