Pilgrim's Pride Corporation Q1 Profit Increases, beats estimates

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

The company's bottom line totaled $174.4 million, or $0.73 per share. This compares with $5.2 million, or $0.02 per share, in last year's first quarter.

Excluding items, Pilgrim's Pride Corporation reported adjusted earnings of $182.9 million or $0.77 per share for the period.

Analysts on average had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.8% to $4.4 billion from $4.2 billion last year.

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

-Earnings (Q1): $174.4 Mln. vs. $5.2 Mln. last year. -EPS (Q1): $0.73 vs. $0.02 last year. -Revenue (Q1): $4.4 Bln vs. $4.2 Bln last year.