Pilgrim’s Pride reports achieves increased EBITDA

Net sales rose to $2.19bn from $2.18bn over the comparable period last year, while net income reduced from $190.7m to $190.4m. Bill Lovette, chief executive, Pilgrim’s, said: "Our efforts this quarter have been directed squarely towards the goals we defined in our strategy. We outlined four distinct growth opportunities, and each undertaking we’ve pursued has been consistent with those opportunities." He said Pilgrim’s had directed its capital spending towards leveraging its existing assets and growing its value-added exports, sought out accretive acquisitions, and had expanded its presence in the Mexican chicken market. "Between the improvements in our operations, the Veracruz project and our recently announced acquisition in Mexico, we believe we are delivering on our commitment to improve shareholder value," he added. Pilgrim’s Pride Mexico announced this week that it had entered into a "definitive agreement" with Tyson Foods regarding the purchase of its poultry business in Mexico.

Pilgrim’s Pride reports achieves increased EBITDA

JBS subsidiary Pilgrim’s Pride has reported a significant increase in EBITDA from $264.6m to $338.6m in the second quarter of 2014.

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