Every material Form 8-K Pilgrim's Pride filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Pilgrim's Pride stockholders approved an amendment to the company's certificate of incorporation at a special meeting held December 23, 2024, and the amendment and related bylaws took effect December 30, 2024. On the same date the company signed a tax sharing agreement with JBS USA Food Company Holdings and an amendment to the stockholders agreement with JBS USA, which owns 82.42% of the company's common stock through JBS S.A. The filing refers to the proxy statement for descriptions of these changes and does not detail their terms.
Special meeting held December 23, 2024; the charter amendment received 228,551,918 votes for, 42,350 against and 18,948 abstentions
96% of outstanding common shares and 79% of shares held by minority investors voted for the amendment
Tax Sharing Agreement with JBS USA covers allocation of U.S. income tax liabilities and assets, effective for tax years beginning on or after December 30, 2024
Amendment Number 2 to the Stockholders Agreement sets the number of board directors in accordance with the certificate
Pilgrim's Pride reported third quarter 2024 results on October 30, 2024, with net sales of $4.6 billion, up 5.2% from a year earlier, and GAAP diluted EPS of $1.47 versus $0.51. Operating income rose to $508.4 million from $206.4 million, and the company reported no change to its outlook in this filing. Profit growth is the main point for shareholders, though the filing's figures are for one quarter and it does not include forward guidance.
Net sales were $4,585.0 million, up 5.2% from $4,360.2 million in the third quarter of 2023
GAAP net income was $350.0 million, and diluted EPS was $1.47 versus $0.51 a year earlier
Adjusted EBITDA was $660.4 million, a 14.4% margin, compared with $324.0 million and 7.4% a year earlier
Results include a $10.7 million pension plan termination loss and an $8.1 million hurricane-related inventory write-down; a conference call is set for October 31 at 7 a.m. MT
Pilgrim's Pride reported second quarter 2024 results with net sales of $4.6 billion, up 5.8% from a year earlier, and operating income of $440.8 million, up from $100.3 million. Diluted GAAP earnings per share were $1.37, compared with $0.25 in the prior-year quarter, and the company said Europe and Mexico both improved. The results show a sharp rise in profit for shareholders, though the filing gives no outlook for future periods.
Net sales were $4,559.3 million for the quarter ended June 30, 2024, up 5.8% from $4,308.1 million.
Operating income was $440.8 million, compared with $100.3 million a year earlier.
GAAP net income was $326.5 million, or $1.37 per diluted share, versus $0.25 per diluted share in the prior-year quarter; the company also reported adjusted EPS of $1.67.
Pilgrim's Pride reported first quarter 2024 results with net sales of $4.4 billion, up 4.7% from the prior year, and GAAP diluted EPS of $0.73 versus $0.02 a year earlier. Operating income rose to $250.3 million from $31.3 million, and the company said its net leverage ratio was less than 2.0x Adjusted EBITDA. The filing contains no forward guidance.
Net sales of $4.4 billion ($4,361.9 million), up 4.7% from $4,165.6 million in the first quarter of 2023
GAAP net income of $174.9 million and diluted EPS of $0.73, compared with $5.6 million net income and $0.02 EPS a year earlier
Adjusted EBITDA of $371.9 million, an 8.5% margin, compared with $151.9 million and a 3.6% margin in the prior-year quarter
Conference call scheduled for May 2, 2024 at 7 a.m. MT (9 a.m. ET)
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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