Pilgrim's Pride reports 96% profit plunge as chicken prices tumble

Pilgrim's Pride Corporation announced a sharp decline in second‑quarter profit, posting a net profit of $13.2 million, down 96% from $356 million a year earlier. Revenue fell 2.8% to $4.6 billion and earnings per share dropped to $0.06 from $1.49.

The company said weaker commodity chicken prices, which fell more than 25% year‑over‑year, drove the loss despite steady consumer demand. CEO Fabio Sandri noted that chicken remains popular for its affordability and that the firm is continuing investments to diversify into value‑added poultry products, including a $400 million plant in Walker County, Georgia, and a $75 million deboning capacity upgrade in Ellijay, Georgia. The stock reached a 52‑week low of $26.37 during mid‑day trading.

Pilgrim's also highlighted growth in its prepared‑foods segment, with the Just Bare brand gaining market share in the frozen fully‑cooked chicken category.