Pilgrim's Pride Corporation Q1 Profit Increases, But Misses Estimates

(RTTNews) - Pilgrim's Pride Corporation (PPC) reported a profit for its first quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $296.03 million, or $1.24 per share. This compares with $174.42 million, or $0.73 per share, last year.

Excluding items, Pilgrim's Pride Corporation reported adjusted earnings of $312.56 million or $1.31 per share for the period.

Analysts on average had expected the company to earn $1.34 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.3% to $4.463 billion from $4.361 billion last year.

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

-Earnings: $296.03 Mln. vs. $174.42 Mln. last year. -EPS: $1.24 vs. $0.73 last year. -Revenue: $4.463 Bln vs. $4.361 Bln last year.