secwatch.observer — SEC 8-K summary
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Issuer:     PILGRIMS PRIDE CORP (PPC)
CIK:        0000802481
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0000802481-23-000033
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/802481/000080248123000033/0000802481-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/802481/000080248123000033/ppc-20230426.htm
  HTML page:      https://secwatch.observer/filing/0000802481-23-000033

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer