US poultry producer Pilgrim’s Pride has said it expects its fiscal third-quarter earnings to exceed its own guidance and Wall Street’s expectations, including one-time gains.
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The company said it now expects earnings for the quarter to 30 June to be between 40 and 42 cents per share, including around 24 to 26 cents per share of nonrecurring gains.
O.B. Goolsby, president and chief operating officer of Pilgrim’s Pride, said: “Our stronger-than-expected performance in the third quarter reflects improved fresh chicken markets and significant profit improvement in our Mexico operations from increased grow out efficiencies, as well as additional nonrecurring gains from our vitamin lawsuit settlements.”
