PILGRIMS PRIDE CORP — Form 8-K
Filed October 28, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 68/100
What the filing says
Pilgrim's Pride reported Q3 2026 net sales of $4.653B (down 2.2% YoY) and adjusted EBITDA of $316.3M with 6.8% margin (down from $633.1M and 13.3% margin in Q3 2025). Nine-month adjusted EBITDA declined 46.9% to $984.4M from $1,853.2M. Margins compressed across all segments due to commodity chicken oversupply (+2.2% USDA supply YoY), input cost inflation, and pork import pressure in Europe. Company maintained 1.76x net leverage, below 2-3x target.
Why this rating
Massive 50% EBITDA decline materially exceeds normal variance for $1.9B company. Structural headwinds (supply glut, input costs) threaten profitability trajectory. Offsetting: prepared foods momentum (Just Bare +25%), Mexico recovery, pending Walkers acquisition, disciplined balance sheet. Near-term earnings suffer; medium-term positioning uncertain.
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