Q3 2025 Pilgrims Pride Corp Earnings Call Transcript
Key Points
- Pilgrims Pride Corp (PPC) reported net revenues of $4.8 billion with an adjusted EBITDA of $633 million and an adjusted EBITDA margin of 13.3% for the third quarter of 2025.
- The company experienced strong demand for chicken across both retail and food service channels, driven by its relative affordability compared to other proteins.
- Prepared foods sales grew by over 25% through expanded offerings and increased distribution, with the Just Bear brand leading category growth.
- Investments in growth projects, such as the conversion of a big bird facility to cage-ready and a new prepared food facility, are on schedule and expected to enhance competitive differentiation.
- Pilgrims Pride Corp (PPC) has made significant progress in sustainability, reducing scope 1 and 2 emissions intensity by 23% since 2019 and improving its global safety index by over 77%.
- Adjusted EBITDA margins decreased in the US, Europe, and Mexico compared to the previous year, indicating pressure on profitability.
- The European pork business faced challenges due to falling hog prices and demand softening from primary export markets, particularly China.
- Commodity chicken market pricing declines impacted profitability, especially in the big bird segment during September.
- The company faces potential risks from macroeconomic factors such as inflation and changes in consumer behavior, which could affect demand.
- Export challenges persist, particularly with China, which has not reopened its market to US chicken despite trade agreements.
Relations and sustainability for pilgrim's pride.
Good for joining us today as we review our operating and financial results for the 3rd quarter ended on September 28, 2025. Yesterday afternoon we issued a press release providing an overview of our financial performance for the quarter, including a reconciliation of any non-GAAP measures we may discuss. A copy of the release is available on our website at ir.pilgrims.com, along with the slides for reference. These items also have been filed as Form 8Ks and are available online at SEC.gov. Fabio Sandri, President and Chief Executive Officer, and Matt Galvani, Chief Financial Officer, will present on today's call.
Before we begin our prepared remarks, I would like to remind everyone of our safe harbor disclaimer.
Today's call may contain certain forward-looking statements that represent our outlook and current expectations as of the day of this release. Other additional factors not anticipated by
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