PILGRIMS PRIDE CORP

Listed Company

PPCCIK 0000802481NasdaqLarge AcceleratedPoultry Slaughtering And ProcessingDelawareFY ends Dec 27

Period

FY 2025

Revenue

$18.50B

Net Income

$1.08B

Total Assets

$10.34B

Equity

$3.68B

Shares Out

237.92M

Op. Cash Flow

$1.37B

Business

PILGRIMS PRIDE CORP is primarily engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken and pork products. It offers fresh whole and cut-up chicken, case-ready products, portion-controlled and prepared foods (including nuggets, patties, deli items and cooked meats), exported frozen product lines and pork and lamb products in select markets. The company operates through three reportable segments: U.S., Europe and Mexico, and maintains a vertically integrated supply chain spanning hatcheries, feed mills, processing and prepared foods plants. It sells to foodservice customers (including chain restaurants and processors), retail grocers, wholesale clubs, distributors and export markets across the U.S., the U.K., continental Europe, Mexico and over 120 other countries.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	18,498	17,878	17,362	17,468	14,777
Cost of sales	16,139	15,566	16,244	15,657	13,412
Gross profit	2,358	2,313	1,118	1,812	1,366
Selling, general and administrative expense	713	713	552	605	1,149
Restructuring activities	31	93	44	30	6
Operating income	1,614	1,506	522	1,177	211
Interest expense, net of capitalized interest	161	161	202	153	—
Interest income	−51	−73	−36	−9	−6
Foreign currency transaction losses (gains)	7	−10	21	31	−9
Miscellaneous, net	−6	15	−30	−23	−12
Income before income taxes	1,502	1,412	365	1,025	92
Income tax expense	419	325	43	279	61
Net income	1,083	1,087	322	747	31
Less: Net income attributable to noncontrolling interest	985,000	785,000	743,000	608,000	268,000
Net income attributable to Pilgrims Pride Corporation	1,082	1,086	322	746	31
Basic (in shares)	237	237	237	240	244
Effect of dilutive common stock equivalents (in shares)	1	792,000	572,000	628,000	477,000
Diluted (in shares)	238	238	237	240	244
Basic (in dollars per share)	4.56	4.58	1.36	3.11	0.13
Diluted (in dollars per share)	4.54	4.57	1.36	3.1	0.13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	640	2,041	698	401	428
Restricted cash and cash equivalents	0	2	33	34	22
Investment in available-for-sale securities	0	10	0	—	—
Inventories	2,031	1,783	1,985	1,990	1,576
Income taxes receivable	104	72	161	156	28
Prepaid expenses and other current assets	273	201	196	211	238
Assets held for sale	11	3	0	—	—
Total current assets	4,237	5,120	4,204	3,892	3,306
Deferred tax assets	31	29	5	2	5
Other long-lived assets	113	62	36	42	32
Operating lease assets, net	258	256	267	306	351
Intangible assets, net	832	806	854	846	963
Goodwill	1,339	1,239	1,286	1,228	1,337
Property, plant and equipment, net	3,533	3,138	3,158	2,941	—
Total assets	10,344	10,651	9,810	9,256	8,913
Revenue contract liabilities	38	49	85	34	22
Accrued expenses and other current liabilities	1,096	1,016	927	851	860
Income taxes payable	124	60	32	58	82
Current maturities of long-term debt	924,000	858,000	674,000	26	26
Total current liabilities	2,890	2,552	2,496	2,570	2,391
Noncurrent operating lease liabilities, less current maturities	199	196	203	231	271
Long-term debt, less current maturities	3,093	3,206	—	—	—
Deferred tax liabilities	452	423	386	364	369
Other long-term liabilities	15	20	40	71	102
Total liabilities	6,650	6,397	6,466	6,402	6,324
Common stock, $.01 par value, 800,000,000 shares authorized; 262,688,600 and 262,263,358 shares issued at year-end 2025 and year-end 2024, respectively; 237,547,447 and 237,122,205 shares outstanding at year-end 2025 and year-end 2024, respectively	3	3	3	3	3
Treasury stock, at cost, 25,141,153 shares at year-end 2025 and year-end 2024	−545	−545	−545	−545	−345
Additional paid-in capital	2,024	1,994	1,979	1,970	1,964
Retained earnings	2,246	3,158	2,071	1,749	1,004
Accumulated other comprehensive loss	−47	−370	−176	−336	−48
Total Pilgrims Pride Corporation stockholders equity	3,680	4,239	3,331	2,841	2,577
Noncontrolling interest	14	14	13	12	12
Total stockholders equity	3,694	4,253	3,345	2,853	2,589
Total liabilities and stockholders equity	10,344	10,651	9,810	9,256	8,913

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	456	434	420	403	381
Asset impairment	493,000	29	4	4	0
Stock-based compensation	29	15	7	7	12
Loss (gain) on early extinguishment of debt recognized as a component of interest expense	573,000	−11	21	0	25
Loan cost amortization	5	5	7	5	5
Deferred income tax expense	10	5	7	21	−86
Accretion of bond discount	2	3	2	2	—
Loss (gain) on property disposals	4	2	−6	−19	−1
Loss (gain) on equity method investments	0	−7,000	328,000	−2,000	−16,000
Trade accounts and other receivables	−113	88	−19	−150	−259
Inventories	−194	135	13	−472	−178
Prepaid expenses and other current assets	−44	−33	18	18	−54
Accounts payable, accrued expenses and other current liabilities	156	127	−69	263	360
Income taxes	35	109	−9	−142	—
Long-term pension and other postretirement obligations	−2	26	−10	−4	−18
Other operating assets and liabilities	−58	−29	−31	−12	−6
Cash provided by operating activities	1,372	1,990	678	670	326
Acquisitions of property, plant and equipment	−711	−476	−544	−487	−382
Proceeds from property disposals	6	15	20	36	25
Proceeds from property insurance recoveries	0	0	21	16	0
Cash used in investing activities	−706	−461	−503	−445	−1,324
Payments on revolving line of credit, long-term borrowings and finance lease obligations	−115	−152	−1,616	−388	−2,006
Proceeds from revolving line of credit and long-term borrowings	0	0	1,768	363	2,952
Proceeds from contribution (payment of distribution) of capital under Tax Sharing Agreement between JBS USA Holdings and Pilgrims Pride Corporation	0	1	−2	−2	—
Payment on early extinguishment of debt	−2	−200,000	−14	0	−21
Purchase of noncontrolling interest	−1	0	0	—	—
Payment of capitalized loan costs	0	−16,000	−20	−5	−22
Payment of cash dividends	−1,994	0	0	—	—
Cash provided by (used in) financing activities	−2,113	−151	117	−232	901
Effect of exchange rate changes on cash and cash equivalents	44	−66	5	−8	−2
Increase (decrease) in cash and cash equivalents	−1,403	1,312	296	−15	−98
Interest paid (net of amount capitalized)	155	182	131	156	119
Income taxes paid	362	198	20	386	21

Filings

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