Pilgrim's Pride Corporation Q1 Profit Increases, beats estimates

(RTTNews) - Pilgrim's Pride Corporation (PPC) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $280.44 million, or $1.15 per share. This compares with $100.21 million, or $0.41 per share, in last year's first quarter.

Excluding items, Pilgrim's Pride Corporation reported adjusted earnings of $287.15 million or $1.18 per share for the period.

Analysts on average had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 29.7% to $4.24 billion from $3.27 billion last year.

Pilgrim's Pride Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $280.44 Mln. vs. $100.21 Mln. last year. -EPS (Q1): $1.15 vs. $0.41 last year. -Analyst Estimate: $0.65 -Revenue (Q1): $4.24 Bln vs. $3.27 Bln last year.