Pilgrims Pride (PPC)
Market Price (10/14/2026): $28.81 | Market Cap: $6.9 BilSector: Consumer Staples | Industry: Packaged Foods & Meats
Pilgrims Pride (PPC)
Market Price (10/14/2026): $28.81Market Cap: $6.9 BilSector: Consumer StaplesIndustry: Packaged Foods & Meats
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 7.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11% Low stock price volatilityVol 12M is 35% Megatrend and thematic driversMegatrends include Automation & Robotics, Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Process / Warehouse Automation, Show more. | Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.8% Key risksPPC key risks include [1] volatile commodity prices, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 7.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11% |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Process / Warehouse Automation, Show more. |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.8% |
| Key risksPPC key risks include [1] volatile commodity prices, Show more. |
Qualitative Assessment
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Updated on 10/4/2026
Pilgrims Pride (PPC) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Weak Fiscal Q2 2026 Results and Negative Outlook for Fiscal Q3 2026. Pilgrim's Pride reported its fiscal Q2 2026 earnings on July 30, 2026, which showed an adjusted Earnings Per Share (EPS) of $0.64, missing analysts' consensus estimates of $0.70 by $0.06. Quarterly revenue also fell 2.8% year-over-year to $4.63 billion, falling short of the $4.70 billion consensus estimate. This performance, coupled with a significant 47.6% plunge in adjusted EBITDA to $360 million, resulted in compressed margins of 7.8%. The negative sentiment from these results was further exacerbated by a projected nearly 50% year-over-year decline in fiscal Q3 2026 EPS and warnings about ongoing margin compression.
2. JBS Acquisition Proposal and Associated Uncertainty. In mid-August 2026, JBS N.V., which already owns approximately 82% of Pilgrim's Pride, proposed to acquire the remaining 18% stake. The non-binding offer valued each Pilgrim's Pride share at roughly $28.49, based on an exchange ratio of 2.086 JBS Class A shares for each PPC share. This proposal likely provided a near-term floor for Pilgrim's Pride's stock price, preventing a more significant decline. However, the offer also led to an investigation by an investor rights law firm concerning whether the proposed consideration undervalued the company and if the process was fair. This ongoing uncertainty surrounding the acquisition limited any substantial upward movement as investors awaited a definitive resolution.
Show more
Pilgrims Pride (PPC) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Weak Fiscal Q2 2026 Results and Negative Outlook for Fiscal Q3 2026. Pilgrim's Pride reported its fiscal Q2 2026 earnings on July 30, 2026, which showed an adjusted Earnings Per Share (EPS) of $0.64, missing analysts' consensus estimates of $0.70 by $0.06. Quarterly revenue also fell 2.8% year-over-year to $4.63 billion, falling short of the $4.70 billion consensus estimate. This performance, coupled with a significant 47.6% plunge in adjusted EBITDA to $360 million, resulted in compressed margins of 7.8%. The negative sentiment from these results was further exacerbated by a projected nearly 50% year-over-year decline in fiscal Q3 2026 EPS and warnings about ongoing margin compression.
2. JBS Acquisition Proposal and Associated Uncertainty. In mid-August 2026, JBS N.V., which already owns approximately 82% of Pilgrim's Pride, proposed to acquire the remaining 18% stake. The non-binding offer valued each Pilgrim's Pride share at roughly $28.49, based on an exchange ratio of 2.086 JBS Class A shares for each PPC share. This proposal likely provided a near-term floor for Pilgrim's Pride's stock price, preventing a more significant decline. However, the offer also led to an investigation by an investor rights law firm concerning whether the proposed consideration undervalued the company and if the process was fair. This ongoing uncertainty surrounding the acquisition limited any substantial upward movement as investors awaited a definitive resolution.
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Updated on 10/4/2026
Pilgrims Pride (PPC) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Weak Fiscal Q2 2026 Results and Negative Outlook for Fiscal Q3 2026. Pilgrim's Pride reported its fiscal Q2 2026 earnings on July 30, 2026, which showed an adjusted Earnings Per Share (EPS) of $0.64, missing analysts' consensus estimates of $0.70 by $0.06. Quarterly revenue also fell 2.8% year-over-year to $4.63 billion, falling short of the $4.70 billion consensus estimate. This performance, coupled with a significant 47.6% plunge in adjusted EBITDA to $360 million, resulted in compressed margins of 7.8%. The negative sentiment from these results was further exacerbated by a projected nearly 50% year-over-year decline in fiscal Q3 2026 EPS and warnings about ongoing margin compression.
2. JBS Acquisition Proposal and Associated Uncertainty. In mid-August 2026, JBS N.V., which already owns approximately 82% of Pilgrim's Pride, proposed to acquire the remaining 18% stake. The non-binding offer valued each Pilgrim's Pride share at roughly $28.49, based on an exchange ratio of 2.086 JBS Class A shares for each PPC share. This proposal likely provided a near-term floor for Pilgrim's Pride's stock price, preventing a more significant decline. However, the offer also led to an investigation by an investor rights law firm concerning whether the proposed consideration undervalued the company and if the process was fair. This ongoing uncertainty surrounding the acquisition limited any substantial upward movement as investors awaited a definitive resolution.
3. Deteriorating Poultry Market Fundamentals and Cost Pressures. The broader poultry market faced challenging conditions during the period, characterized by an increased U.S. chicken supply that put downward pressure on pricing. UBS specifically noted in September 2026 that a "significant increase in US chicken supply is pressuring Q3 margins," with breast meat prices decreasing by 19% quarter-on-quarter. This oversupply contributed to a lowering of projected broiler prices for 2026. Concurrently, Pilgrim's Pride contended with "higher feed costs" and rising commodity costs, which Bank of America indicated impacted consumer staple companies with limited ability to increase prices. These macroeconomic headwinds created a difficult operating environment, counteracting any potential positive catalysts.
4. Neutral Analyst Sentiment and Price Target Adjustments. Analyst sentiment remained predominantly "Hold" throughout the period, with a consensus rating of Hold from multiple Wall Street analysts. While the average price targets from analysts ranged from $34.38 to $36.50, suggesting some potential upside from current trading levels, several firms, including Bank of America and UBS, either reiterated neutral ratings or reduced their price targets for Pilgrim's Pride. For instance, Bank of America cut its price objective from $37.00 to $30.00, and UBS maintained a neutral rating with a $28 price target. This cautious outlook from the analyst community, despite the company's strategic move to acquire Walkers Deli & Sausage Company to expand into higher-margin prepared foods, reflected ongoing concerns about profitability and industry headwinds.
Show less
Pilgrims Pride (PPC) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Weak Fiscal Q2 2026 Results and Negative Outlook for Fiscal Q3 2026. Pilgrim's Pride reported its fiscal Q2 2026 earnings on July 30, 2026, which showed an adjusted Earnings Per Share (EPS) of $0.64, missing analysts' consensus estimates of $0.70 by $0.06. Quarterly revenue also fell 2.8% year-over-year to $4.63 billion, falling short of the $4.70 billion consensus estimate. This performance, coupled with a significant 47.6% plunge in adjusted EBITDA to $360 million, resulted in compressed margins of 7.8%. The negative sentiment from these results was further exacerbated by a projected nearly 50% year-over-year decline in fiscal Q3 2026 EPS and warnings about ongoing margin compression.
2. JBS Acquisition Proposal and Associated Uncertainty. In mid-August 2026, JBS N.V., which already owns approximately 82% of Pilgrim's Pride, proposed to acquire the remaining 18% stake. The non-binding offer valued each Pilgrim's Pride share at roughly $28.49, based on an exchange ratio of 2.086 JBS Class A shares for each PPC share. This proposal likely provided a near-term floor for Pilgrim's Pride's stock price, preventing a more significant decline. However, the offer also led to an investigation by an investor rights law firm concerning whether the proposed consideration undervalued the company and if the process was fair. This ongoing uncertainty surrounding the acquisition limited any substantial upward movement as investors awaited a definitive resolution.
3. Deteriorating Poultry Market Fundamentals and Cost Pressures. The broader poultry market faced challenging conditions during the period, characterized by an increased U.S. chicken supply that put downward pressure on pricing. UBS specifically noted in September 2026 that a "significant increase in US chicken supply is pressuring Q3 margins," with breast meat prices decreasing by 19% quarter-on-quarter. This oversupply contributed to a lowering of projected broiler prices for 2026. Concurrently, Pilgrim's Pride contended with "higher feed costs" and rising commodity costs, which Bank of America indicated impacted consumer staple companies with limited ability to increase prices. These macroeconomic headwinds created a difficult operating environment, counteracting any potential positive catalysts.
4. Neutral Analyst Sentiment and Price Target Adjustments. Analyst sentiment remained predominantly "Hold" throughout the period, with a consensus rating of Hold from multiple Wall Street analysts. While the average price targets from analysts ranged from $34.38 to $36.50, suggesting some potential upside from current trading levels, several firms, including Bank of America and UBS, either reiterated neutral ratings or reduced their price targets for Pilgrim's Pride. For instance, Bank of America cut its price objective from $37.00 to $30.00, and UBS maintained a neutral rating with a $28 price target. This cautious outlook from the analyst community, despite the company's strategic move to acquire Walkers Deli & Sausage Company to expand into higher-margin prepared foods, reflected ongoing concerns about profitability and industry headwinds.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 2.4% change in PPC stock from 6/30/2026 to 10/13/2026 was primarily driven by a 66.8% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10132026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.11 | 28.79 | 2.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18,567 | 18,436 | -0.7% |
| Net Income Margin (%) | 4.8% | 3.0% | -38.1% |
| P/E Multiple | 7.5 | 12.6 | 66.8% |
| Shares Outstanding (Mil) | 238 | 238 | -0.1% |
| Cumulative Contribution | 2.4% |
Market Drivers
6/30/2026 to 10/13/2026| Return | Correlation | |
|---|---|---|
| PPC | 2.4% | |
| Market (SPY) | 4.2% | 1.8% |
| Sector (XLP) | 1.3% | 32.3% |
Fundamental Drivers
The -23.8% change in PPC stock from 3/31/2026 to 10/13/2026 was primarily driven by a -49.4% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 10132026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.76 | 28.79 | -23.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18,498 | 18,436 | -0.3% |
| Net Income Margin (%) | 5.9% | 3.0% | -49.4% |
| P/E Multiple | 8.3 | 12.6 | 51.5% |
| Shares Outstanding (Mil) | 238 | 238 | -0.2% |
| Cumulative Contribution | -23.8% |
Market Drivers
3/31/2026 to 10/13/2026| Return | Correlation | |
|---|---|---|
| PPC | -23.8% | |
| Market (SPY) | 19.9% | -5.2% |
| Sector (XLP) | 3.4% | 40.5% |
Fundamental Drivers
The -29.3% change in PPC stock from 9/30/2025 to 10/13/2026 was primarily driven by a -56.5% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10132026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.72 | 28.79 | -29.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18,177 | 18,436 | 1.4% |
| Net Income Margin (%) | 6.8% | 3.0% | -56.5% |
| P/E Multiple | 7.8 | 12.6 | 60.7% |
| Shares Outstanding (Mil) | 237 | 238 | -0.2% |
| Cumulative Contribution | -29.3% |
Market Drivers
9/30/2025 to 10/13/2026| Return | Correlation | |
|---|---|---|
| PPC | -29.3% | |
| Market (SPY) | 17.8% | -2.9% |
| Sector (XLP) | 9.7% | 41.4% |
Fundamental Drivers
The 42.3% change in PPC stock from 9/30/2023 to 10/13/2026 was primarily driven by a 198.9% change in the company's Net Income Margin (%).| (LTM values as of) | 9302023 | 10132026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.23 | 28.79 | 42.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17,070 | 18,436 | 8.0% |
| Net Income Margin (%) | 1.0% | 3.0% | 198.9% |
| P/E Multiple | 28.3 | 12.6 | -55.7% |
| Shares Outstanding (Mil) | 237 | 238 | -0.5% |
| Cumulative Contribution | 42.3% |
Market Drivers
9/30/2023 to 10/13/2026| Return | Correlation | |
|---|---|---|
| PPC | 42.3% | |
| Market (SPY) | 88.2% | 1.3% |
| Sector (XLP) | 31.9% | 33.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PPC Return | 44% | -16% | 17% | 64% | -3% | -26% | 66% |
| Peers Return | 19% | 4% | -7% | 17% | 13% | -13% | 31% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| PPC Win Rate | 58% | 50% | 50% | 67% | 50% | 30% | |
| Peers Win Rate | 56% | 56% | 56% | 52% | 48% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PPC Max Drawdown | -19% | -38% | -22% | -16% | -33% | -42% | |
| Peers Max Drawdown | -16% | -25% | -26% | -19% | -25% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TSN, HRL, SEB, CALM. See PPC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/13/2026 (YTD)
How Low Can It Go
| Event | PPC | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.0% | -6.7% |
| % Gain to Breakeven | 20.5% | 7.1% |
| Time to Breakeven | 16 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.0% | -24.5% |
| % Gain to Breakeven | 33.4% | 32.4% |
| Time to Breakeven | 43 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.5% | -33.7% |
| % Gain to Breakeven | 57.5% | 50.9% |
| Time to Breakeven | 515 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -15.6% | -19.2% |
| % Gain to Breakeven | 18.5% | 23.8% |
| Time to Breakeven | 25 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -17.3% | -3.7% |
| % Gain to Breakeven | 20.9% | 3.9% |
| Time to Breakeven | 98 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.0% | -12.2% |
| % Gain to Breakeven | 26.6% | 13.9% |
| Time to Breakeven | 88 days | 62 days |
In The Past
Pilgrims Pride's stock fell -7.3% during the 2025 US Tariff Shock. Such a loss loss requires a 7.9% gain to breakeven.
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| Event | PPC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.0% | -24.5% |
| % Gain to Breakeven | 33.4% | 32.4% |
| Time to Breakeven | 43 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.5% | -33.7% |
| % Gain to Breakeven | 57.5% | 50.9% |
| Time to Breakeven | 515 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.0% | -12.2% |
| % Gain to Breakeven | 26.6% | 13.9% |
| Time to Breakeven | 88 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -28.1% | -6.8% |
| % Gain to Breakeven | 39.0% | 7.3% |
| Time to Breakeven | 167 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -44.9% | -17.9% |
| % Gain to Breakeven | 81.4% | 21.8% |
| Time to Breakeven | 75 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -51.5% | -15.4% |
| % Gain to Breakeven | 106.2% | 18.2% |
| Time to Breakeven | 1067 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -99.5% | -53.4% |
| % Gain to Breakeven | 19233.1% | 114.4% |
| Time to Breakeven | 2039 days | 1085 days |
In The Past
Pilgrims Pride's stock fell -7.3% during the 2025 US Tariff Shock. Such a loss loss requires a 7.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Pilgrims Pride (PPC)
Pilgrim's Pride Corporation (PPC) is a prominent international food company specializing in the production, processing, marketing, and distribution of a wide array of chicken and pork products. Operating across the United States, United Kingdom, Mexico, the Middle East, Asia, and Continental Europe, the company serves a global market with both fresh and value-added meat offerings. It operates as a subsidiary of JBS S.A.
The company's extensive product portfolio includes fresh items such as whole chickens, breast fillets, primary pork cuts, and pork ribs, often available in pre-marinated or prepackaged forms. Beyond fresh meats, Pilgrim's Pride offers a significant range of prepared and value-added products, including portion-controlled fillets, nuggets, patties, processed sausages, bacon, slow-cooked meats, and various delicatessen and sandwich counter items. These products are sold under numerous well-recognized brands like Pilgrim's, Just BARE, Moy Park, Richmond, and Denny.
Pilgrim's Pride caters to a diverse customer base, primarily segmented into two major markets. The foodservice market includes chain restaurants, food processors, and broad-line distributors. Concurrently, its products are widely available in the retail market, reaching consumers through grocery store chains, wholesale clubs, and other retail distributors, providing convenience and variety for everyday meals.
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- Tyson Foods for chicken and pork globally.
- Perdue Farms, but for chicken and pork internationally.
- Hormel Foods for fresh and prepared chicken and pork.
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- Fresh Chicken Products: Includes pre-marinated or non-marinated whole chickens, breast fillets, and prepackaged case-ready chicken.
- Fresh Pork Products: Offers primary pork cuts, pork, and pork ribs.
- Prepared Chicken Products: Features portion-controlled breast fillets, tenderloins, strips, delicatessen products, salads, formed nuggets, patties, and bone-in chicken parts.
- Processed Meat Products: Comprises sausages, bacon, slow-cooked and smoked meats, gammon joints, pre-packed meats, sandwich and deli counter meats, pulled pork balls, meatballs, and coated foods.
- Exported Meat Products: Involves whole chickens, chicken parts, primary pork cuts, hog heads, and trotters, sold refrigerated or frozen for international distribution.
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Pilgrim's Pride (PPC) sells its products primarily to other companies within the foodservice and retail markets, rather than directly to individuals.
Based on the provided company description, its major customer categories include:
- Chain restaurants
- Food processors
- Broad-line distributors
- Grocery store chains
- Wholesale clubs
- Other retail distributors
- Other institutions
Specific names of major customer companies are not provided in the company description.
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Fabio Sandri, President and Global Chief Executive Officer
Fabio Sandri joined Pilgrim's as Chief Financial Officer in June 2011 and was appointed President and Global Chief Executive Officer in September 2020. Prior to joining Pilgrim's, he served as CFO of Estacio Participações, a large private post-secondary educational institution in Brazil, since 2010. He also served as CFO of Imbra SA, a dental services provider in São Paolo, Brazil, for nearly two years. From 2005 to 2008, Mr. Sandri was the strategy director and corporate controller for Braskem S.A., a New York Stock Exchange-listed petrochemical company.
Matthew Galvanoni, Chief Financial Officer
Matthew Galvanoni joined Pilgrim's as Chief Financial Officer in March 2021. Before this role, he was the Vice President of Finance at Ingredion Incorporated, managing financial responsibilities for its North American division since 2016. He initially joined Ingredion in 2012 as global corporate controller and chief accounting officer. Mr. Galvanoni began his career at PricewaterhouseCoopers LLP in 1994 and held various financial leadership positions at Exelon Corporation, including assistant corporate controller.
Jesus Munoz, President, Pilgrim's Mexico
Jesus Munoz was named President of Pilgrim's Mexico in May 2024. He previously served as the Director of the Fresh business for Pilgrim's Mexico and first joined the company in 2001 as a supervisor at a feed mill.
Ivan Siqueira, President, Pilgrim's Europe
Ivan Siqueira serves as the President of Pilgrim's Europe.
Kendra Waldbusser, Head of Global Food Safety & Quality Assurance
Kendra Waldbusser has been the Head of Food Safety and Quality Assurance at Pilgrim's since March 2010. Prior to joining Pilgrim's, she worked for 13 years at Tyson Foods, where her roles included director of quality assurance for renewable products.
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The key risks to Pilgrim's Pride (PPC) are primarily associated with the inherent nature of the food processing industry, particularly involving poultry and pork production.
- Disease Outbreaks: Pilgrim's Pride faces significant risks from outbreaks of livestock diseases, such as avian influenza (bird flu) in poultry or African swine fever in pigs. Such outbreaks can severely impact the company's ability to conduct operations, decimate flocks and herds, lead to mass culling, disrupt supply chains, and result in immediate trade restrictions and a reduction in demand for its products. These events can cause substantial financial losses and operational disruption across its global presence.
- Volatile Commodity Prices: The profitability of Pilgrim's Pride is materially affected by fluctuations in the commodity prices of its primary feed ingredients, such as corn and soybean meal, as well as the market prices of chicken and pork. These raw material costs are key components of poultry and pork production, and their volatility directly impacts the company's production costs and overall profitability, leading to cyclical earnings fluctuations.
- Food Safety, Product Recalls, and Regulatory Compliance: Operating as a major producer, processor, and distributor of fresh, frozen, and value-added meat products across multiple brands and international markets, Pilgrim's Pride is exposed to considerable risks related to food safety incidents and product recalls. A loss of consumer confidence in the quality or safety of food products or ingredients, or a product contamination event, could lead to widespread recalls, significant reputational damage, and materially adverse effects on product sales and financial condition. Furthermore, the company operates in a highly regulated sector with stringent rules concerning food safety, animal welfare, and environmental impact. Changes in legislation, increased scrutiny from regulatory bodies, or non-compliance can lead to additional operational costs, restrictions, and potential legal liabilities.
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The clear emerging threat for Pilgrim's Pride is the accelerating shift in consumer preferences and technological advancements leading to the growth of alternative protein markets, particularly plant-based meat substitutes and cultivated (lab-grown) meat. These products directly compete with Pilgrim's traditional chicken and pork offerings by providing alternatives that address growing consumer concerns regarding health, environmental sustainability, and animal welfare, thus posing a disruptive challenge to conventional meat demand and market share.
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Pilgrim's Pride Corporation operates in significant addressable markets for its main products, primarily fresh, frozen, and value-added chicken and pork products, across various global regions.
Chicken Products
- The global poultry market, which largely consists of chicken, was estimated at USD 449.61 billion in 2024 and is expected to grow to USD 617.41 billion by 2033.
- In the United States, the chicken market size was approximately USD 116.51 billion in 2024.
- The European chicken market was valued at about USD 110.75 billion in 2024.
- The Middle East poultry meat market, where chicken holds a commanding lead with a 70.74% market share in 2025, was estimated at USD 16.25 billion in 2025 and is projected to reach USD 17.83 billion by 2030.
- The Mexico chicken market was projected at USD 13.44 billion in 2024.
Processed Chicken Products
- The global processed poultry meat market was valued at USD 252.40 billion in 2020 and is projected to reach USD 592.70 billion by 2031. The chicken segment within this market alone accounted for USD 209.9 billion in 2020 and is estimated to reach USD 514.3 billion by 2031.
Pork Products
- The global pork meat market was estimated at USD 293.18 billion in 2023 and is projected to reach USD 424.44 billion by 2030.
- In the United States, the pork industry contributed approximately USD 62.7 billion to the gross national product in 2023. U.S. pork production is expected to reach USD 28.1 billion in 2025.
- The Europe pork meat market was valued at USD 81.21 billion in 2024 and is anticipated to grow to USD 111.66 billion by 2033.
- The Asia Pacific region dominated the global pork market with a 45.0% share in 2023.
- The Middle East pork market had a value of USD 106 million in 2024 and is forecast to reach USD 170 million by 2035.
Processed Pork Products
- The European processed pork market was calculated at USD 3.37 billion in 2024 and is anticipated to be worth USD 5.26 billion by 2033.
- The Asia Pacific processed pork market size was USD 2.65 billion in 2024 and is anticipated to reach USD 4.53 billion by 2033.
- The Middle East and Africa processed pork market size was USD 0.59 billion in 2024 and is anticipated to be worth USD 0.89 billion by 2033.
- The United States processed pork meat market is estimated at USD 5.05 billion in 2025 and is expected to reach USD 5.77 billion by 2030.
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Here are 3-5 expected drivers of future revenue growth for Pilgrim's Pride (PPC) over the next 2-3 years:
- Expansion of U.S. Prepared Foods and Branded Products: Pilgrim's Pride is focused on expanding its U.S. Prepared Foods segment with innovative, differentiated products and increasing capacity to support this growth. The company's "Just BARE" brand has shown significant market share expansion, and the relaunch of the "Pilgrim's" brand aims to enhance consumer engagement and distribution, contributing to sustained top-line growth.
- Strategic Investments in New Facilities and Capacity Enhancement: The company is undertaking substantial capital expenditures, including a planned $400 million investment in a new Georgia facility, expected to increase sales capacity by 40%. Additionally, Pilgrim's Pride is enhancing its protein conversion capacity, such as increasing small bird capacity and converting a large bird plant into a case-ready facility, to optimize its product portfolio and meet demand.
- Geographical Expansion in Mexico: Pilgrim's Pride sees strong growth opportunities in Mexico, particularly within the fresh and prepared food sectors. The company is increasing its capital deployment in this region, which includes plans for a new poultry complex in Merida.
- Robust Consumer Demand and Increased Penetration of Chicken Offerings: The company is benefiting from steady consumer interest in convenient, protein-focused meal options across both retail and foodservice channels. This consistent demand for chicken products, coupled with increased promotional activity and penetration of chicken offerings, is expected to support revenue growth.
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Share Repurchases
- Pilgrim's has invested a combined total of over $1.8 billion in share repurchases and dividends over the last five years.
- In Q3 2022, Pilgrim's Pride spent $79.6 million on share buybacks.
Share Issuance
- No significant dollar amount of share issuance was explicitly reported within the last 3-5 years. The number of shares outstanding showed minor fluctuations, for example, a 0.32% increase year-over-year for the quarter ending December 31, 2025.
Inbound Investments
- JBS S.A., which owns over 80% of Pilgrim's Pride, attempted to acquire the remaining outstanding shares in 2021, but the offer was deemed to undervalue Pilgrim's Pride by a special board committee and ultimately failed.
Outbound Investments
- Over the last five years, Pilgrim's has invested more than $950 million in acquisitions.
Capital Expenditures
- Pilgrim's Pride's capital expenditures were $476 million in 2024, following a peak of $543 million in 2023, which was focused on new facilities in Mexico and modernization of European assets.
- The company's capital expenditures are forecasted to be between $900 million and $950 million for 2026, an increase from $711 million in 2025.
- These capital expenditures are primarily focused on supporting growth in Mexico, expanding U.S. prepared foods, and plant conversions to optimize product mix, improve operational efficiency, and advance sustainability initiatives.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 53.80 |
| Mkt Cap | 6.9 |
| Rev LTM | 12,147 |
| Op Inc LTM | 797 |
| FCF LTM | 304 |
| FCF 3Y Avg | 770 |
| CFO LTM | 1,092 |
| CFO 3Y Avg | 1,067 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.4% |
| Rev Chg 3Y Avg | 1.5% |
| Rev Chg Q | -2.4% |
| QoQ Delta Rev Chg LTM | -0.6% |
| Op Inc Chg LTM | -30.5% |
| Op Inc Chg 3Y Avg | 31.5% |
| Op Mgn LTM | 3.4% |
| Op Mgn 3Y Avg | 7.1% |
| QoQ Delta Op Mgn LTM | -0.6% |
| CFO/Rev LTM | 4.6% |
| CFO/Rev 3Y Avg | 8.1% |
| FCF/Rev LTM | 1.7% |
| FCF/Rev 3Y Avg | 4.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.9 |
| P/S | 0.4 |
| P/Op Inc | 13.3 |
| P/EBIT | 15.5 |
| P/E | 30.9 |
| P/CFO | 9.4 |
| Total Yield | 9.4% |
| Dividend Yield | 4.0% |
| FCF Yield 3Y Avg | 5.8% |
| D/E | 0.4 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.6% |
| 3M Rtn | -15.6% |
| 6M Rtn | -17.0% |
| 12M Rtn | -14.8% |
| 3Y Rtn | 28.4% |
| 1M Excs Rtn | -8.5% |
| 3M Excs Rtn | -18.0% |
| 6M Excs Rtn | -30.3% |
| 12M Excs Rtn | -31.0% |
| 3Y Excs Rtn | -59.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fresh products | 12,264 | 11,688 | 10,977 | 11,121 | 9,931 |
| Prepared foods | 4,707 | 4,696 | 4,716 | 4,380 | 3,241 |
| Export | 1,030 | 946 | 1,006 | 1,266 | 918 |
| Other products | 498 | 548 | 663 | 702 | 687 |
| Total | 18,498 | 17,878 | 17,362 | 17,468 | 14,777 |
| $ Mil | 2009 | 2008 | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|
| Other products | 54 | 32 | 8 | ||
| Chicken | 28 | -1,161 | 206 | 11 | 445 |
| Corporate & Other | -14 | ||||
| Other Products | 103 | ||||
| Turkey | -5 | -16 | 13 | ||
| Total | 67 | -1,058 | 233 | 3 | 458 |
| $ Mil | 2009 | 2008 | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|
| Chicken | 2,888 | 3,106 | 3,597 | 2,260 | 2,347 |
| Other products | 172 | 108 | 90 | ||
| Other Products | 159 | ||||
| Turkey | 70 | 77 | 88 | ||
| Total | 3,061 | 3,265 | 3,774 | 2,427 | 2,435 |
Price Behavior
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PPC Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.36 | 0.25 | -0.11 | -0.25 | -0.11 | 0.02 |
| Up Beta | -2.39 | -2.26 | -2.40 | -0.36 | -0.52 | 0.11 |
| Down Beta | 0.19 | 0.24 | -0.05 | -0.88 | -0.39 | -0.25 |
| Up Capture | -7% | 91% | 45% | -29% | -7% | 3% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 7 | 17 | 31 | 56 | 119 | 389 |
| Down Capture | 232% | 122% | 79% | 53% | 50% | 13% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 15 | 24 | 32 | 68 | 129 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PPC | |
|---|---|---|---|---|
| PPC | -25.9% | 35.0% | -0.80 | - |
| Sector ETF (XLP) | 10.1% | 14.7% | 0.43 | 41.3% |
| Equity (SPY) | 20.2% | 12.7% | 1.16 | -1.0% |
| Gold (GLD) | 3.4% | 29.5% | 0.11 | 10.8% |
| Commodities (DBC) | 52.0% | 20.7% | 1.90 | -12.5% |
| Real Estate (VNQ) | 7.4% | 13.7% | 0.26 | 33.7% |
| Bitcoin (BTCUSD) | -27.7% | 43.7% | -0.62 | 2.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PPC | |
|---|---|---|---|---|
| PPC | 2.1% | 31.3% | 0.10 | - |
| Sector ETF (XLP) | 6.7% | 13.7% | 0.26 | 36.2% |
| Equity (SPY) | 13.9% | 17.1% | 0.62 | 20.8% |
| Gold (GLD) | 18.3% | 18.9% | 0.78 | 7.8% |
| Commodities (DBC) | 9.7% | 19.5% | 0.38 | 2.4% |
| Real Estate (VNQ) | 1.5% | 18.8% | -0.03 | 30.2% |
| Bitcoin (BTCUSD) | 9.7% | 51.9% | 0.37 | 10.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PPC | |
|---|---|---|---|---|
| PPC | 4.3% | 33.8% | 0.21 | - |
| Sector ETF (XLP) | 7.5% | 14.9% | 0.37 | 42.2% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 33.5% |
| Gold (GLD) | 11.8% | 16.4% | 0.58 | 7.8% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 9.9% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 37.7% |
| Bitcoin (BTCUSD) | 63.2% | 66.2% | 1.03 | 10.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -6.7% | -6.1% | 8.0% |
| 4/30/2026 | -3.7% | -8.2% | -13.0% |
| 2/12/2026 | -3.6% | -1.7% | -16.1% |
| 10/30/2025 | 0.1% | -3.9% | 2.2% |
| 7/31/2025 | 1.1% | 5.3% | -6.2% |
| 5/1/2025 | -1.3% | 1.2% | 5.9% |
| 2/13/2025 | 3.5% | 2.1% | -4.7% |
| 10/31/2024 | 3.6% | 8.1% | 6.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 16 |
| # Negative | 11 | 12 | 8 |
| Median Positive | 1.8% | 4.5% | 7.1% |
| Median Negative | -3.2% | -2.4% | -8.2% |
| Max Positive | 8.0% | 11.2% | 25.2% |
| Max Negative | -6.7% | -8.2% | -18.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -6.7% | -6.1% | 8.0% |
| 4/30/2026 | -3.7% | -8.2% | -13.0% |
| 2/12/2026 | -3.6% | -1.7% | -16.1% |
| 10/30/2025 | 0.1% | -3.9% | 2.2% |
| 7/31/2025 | 1.1% | 5.3% | -6.2% |
| 5/1/2025 | -1.3% | 1.2% | 5.9% |
| 2/13/2025 | 3.5% | 2.1% | -4.7% |
| 10/31/2024 | 3.6% | 8.1% | 6.1% |
| 8/1/2024 | -1.8% | 5.2% | 10.4% |
| 5/2/2024 | 0.9% | 4.3% | -3.0% |
| 2/26/2024 | 8.0% | 11.2% | 18.3% |
| 10/26/2023 | 0.7% | 5.0% | 6.0% |
| 7/27/2023 | 1.7% | 2.3% | 3.6% |
| 4/27/2023 | 3.4% | -0.3% | 2.7% |
| 2/9/2023 | 7.2% | 4.3% | 1.1% |
| 10/27/2022 | 1.8% | 2.2% | 12.9% |
| 7/28/2022 | -3.4% | -7.7% | -10.2% |
| 4/28/2022 | -3.2% | -3.0% | 14.7% |
| 2/10/2022 | 0.9% | -0.9% | -18.2% |
| 10/28/2021 | -0.1% | -0.4% | 0.3% |
| 7/29/2021 | -1.0% | -6.1% | 25.2% |
| 4/29/2021 | -1.0% | -1.0% | -0.7% |
| 2/11/2021 | -5.6% | -1.5% | 10.6% |
| 10/29/2020 | 2.9% | 4.8% | 16.1% |
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 16 |
| # Negative | 11 | 12 | 8 |
| Median Positive | 1.8% | 4.5% | 7.1% |
| Median Negative | -3.2% | -2.4% | -8.2% |
| Max Positive | 8.0% | 11.2% | 25.2% |
| Max Negative | -6.7% | -8.2% | -18.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/11/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/30/2020 | 10-Q |
| 03/31/2020 | 04/30/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Packaged Foods & Meats Resources |
| USDA Data |
| Food Processing |
| Meat+Poultry |
| Just Food |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 10/13/2026