Pilgrim's Pride Q1 Profits Rise Amid Market Volatility

Pilgrim's Pride reported first-quarter net income of $296 million, up from $174.9 million the previous year, with revenue rising to $4.46 billion but narrowly missing analyst expectations. Earnings per share came in at $1.31, falling short of Wall Street estimates and contributing to a drop in the company's share price. Profitability was driven by higher poultry commodity prices and strong growth in the U.S. prepared foods segment, with brands like Just Bare performing well. The company faced operational challenges, including tariff disputes affecting soybean feed costs and winter weather causing export disruptions. Inflation impacted consumer behavior, leading to reduced purchase quantities and lower restaurant traffic. Despite operational and financial improvements, market volatility and missed analyst targets weighed on investor sentiment.