Pilgrim's, a operator of chicken processing plants and prepared-foods facilities, has reported net income for the third quarter of $256m, compared to $160.9m for the year-ago quarter.
Net sales for the third quarter rose to $2.27bn from $2.14bn a year ago. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) totalled $435m.
Pilgrim's chief executive officer Bill Lovette said: "Our third quarter results reflect the discipline that Pilgrim's has demonstrated in managing the variables within our control as well as the strength we've seen in the chicken markets.
"Our focus has been, and continues to be, the consistent execution of our strategy to be a valued partner to our key customers, relentless pursuit of operational excellence and value-added export growth. We are optimistic that we will continue to be one of the more profitable operators with our management philosophy conducive to continually operating at the top of our industry, even with varying levels of strength in chicken markets."
"Through our budgeting process for next year we have identified new targeted capital investments and additional operational improvement opportunities that will continue our trajectory towards our vision of being the best managed and most respected company in the industry."
