Greeley-based Pilgrim’s Pride, the chicken processing subsidiary of JBS USA, saw reduced earnings for the third quarter of the year, but still found some profit in its U.S. and Mexico operations.
The company reported net income of $98.7 million, a 28 percent drop from the same time last year. Adjusted earnings before interest, taxes, depreciation and other expenses dropped 23 percent in that time. Still, the company reports 10.4 percent profit margins.
“Retail demand for our birds remained robust despite concerns about greater availability of other competing proteins,” said Pilgrims CEO, Bill Lovette in a news release. “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.”
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