---
schema_version: "secwatch.filing_event.v1"
accession: "0000802481-23-000033"
form_type: "8-K"
ticker: "PPC"
cik: "0000802481"
company_name: "PILGRIMS PRIDE CORP"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T10:22:04.096028+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Pilgrim's Pride Q1 net sales $4.2B, GAAP EPS $0.02 (down 98% YoY)

## Summary
- GAAP net income $5.6M ($0.02 EPS) vs $367M ($1.15) last year; adjusted EPS $0.08.
- Net sales $4.17B, down 1.8% YoY; operating income $31.3M vs $402M (-92%).
- Adjusted EBITDA $151.9M (3.6% margin) vs $501.8M (11.8%) last year.
- Prepared Foods branded sales (Just Bare, Pilgrim's) grew >68% YoY; e-commerce share 19%.
- $1B unsecured investment grade bond offering completed, significantly oversubscribed.

## SEC filing metadata
- accession: 0000802481-23-000033
- form_type: 8-K
- ticker: PPC
- cik: 0000802481
- company_name: PILGRIMS PRIDE CORP
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/802481/000080248123000033/0000802481-23-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/802481/000080248123000033/ppc-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000802481-23-000033
- JSON: https://secwatch.observer/filing/0000802481-23-000033.json
- Plain text: https://secwatch.observer/filing/0000802481-23-000033.txt

## Key facts
- Earnings Releases
  PILGRIMS PRIDE CORP reported the first quarter 2023 results: revenue $4.2 billion, net income $5.6 million, EPS $0.02.
  - Period: the first quarter 2023
  - Revenue: $4.2 billion
  - Net income: $5.6 million
  - EPS: $0.02
  - Result: reported results
  source text: Pilgrim’s Pride Corporation (NASDAQ: PPC), one of the world's largest poultry producers, reports its first quarter 2023 financial results. First Quarter Highlights • Net Sales of $4.2 billion. • GAAP Net Income of $5.6 million and GAAP EPS of $0.02.
  evidence_url: https://www.sec.gov/Archives/edgar/data/802481/000080248123000033/0000802481-23-000033-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.