Pilgrim's Pride Corporation · NASDAQ:PPC

Pilgrim's Pride — Q2 2026 Earnings Presentation

27 slides from Pilgrim's Pride's earnings presentation, Jun 28, 2026

  1. Slide 1: Financial Results For The Second Quarter Ended June 28th 2026

    Financial Results For The Second Quarter Ended June 28th 2026 Pilgrim’s Pride Corporation (NASDAQ: PPC)

  2. Slide 2: Cautionary Notes and Forward-Looking Statements

    Cautionary Notes and Forward-Looking Statements  Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. Without

  3. Slide 3: Second Quarter 2026 Financial Review

    Second Quarter 2026 Financial Review  U.S.: Year-over-Year (YoY) decrease in commodity Main Indicators ($MM) Q2 2026 Q2 2025 market pricing negatively impacting the business unit, partially offset by strong growth in Prepared Foods volumes; however, sequential quarter- Net Revenue 4,626.2 4,757.4 o

  4. Slide 4: Pullet Placements Rose 4.4% Y/Y in Q2-2026, Reflecting Strong Quarterly Growth

    Pullet Placements Rose 4.4% Y/Y in Q2-2026, Reflecting Strong Quarterly Growth Intended Pullet Placements, Domestic Use 12,000 10,000 8,000 Thousand Head 6,000 4,000 2,000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 5 Yr. Avg. 4 Source: USDA

  5. Slide 5: Broiler Layer Flock Increased Y/Y in Q2-26; Eggs/100 Slightly Up Y/Y in Q2-26

    Broiler Layer Flock Increased Y/Y in Q2-26; Eggs/100 Slightly Up Y/Y in Q2-26 Broiler Type Hatching Layers Eggs/100 64,000 2,000 1,950 62,000 1,900 60,000 1,850 Head (000) 58,000 1,800 Eggs 1,750 56,000 1,700 54,000 1,650 1,600 52,000 1,550 50,000 1,500 2024 2025 2026 5 Yr. Avg. 2024 2025 2026 5 Yr.

  6. Slide 6: Eggs Set Increased 1.9% YoY in Q2-26; Hatchability +0.2 pp

    Eggs Set Increased 1.9% YoY in Q2-26; Hatchability +0.2 pp Compared to Q2-26 Levels ChickenEggs Chicken Eggs Set Set by byWeek Week- USDA - USDA Hatchability by Week - USDA 260,000 255,000 82% 250,000 255,000 81% 245,000 81% Hatchability (%) 250,000 (000) 240,000 80% (000) 245,000 235,000 Eggs 80% E

  7. Slide 7: Broiler Placements Increased 2.5% Above Year-Ago Levels in Q2-26

    Broiler Placements Increased 2.5% Above Year-Ago Levels in Q2-26 Chicks Placements by Week - USDA 205,000 200,000 195,000 Heads (000) 190,000 185,000 180,000 175,000 31 51 37 25 29 35 39 23 33 15 19 5 9 13 41 47 3 45 49 21 27 43 11 17 1 7 5-yr Range 5-yr Avg 2024 2025 2026 7 Source: USDA

  8. Slide 8: Increased Head Counts in Mid-Weight Segments in Q2-26

    Increased Head Counts in Mid-Weight Segments in Q2-26 Head Processed by Size 21.7% 23.3% 24.1% 25.7% 25.4% 26.4% 27.3% 27.6% 28.9% 25.4% 26.2% 27.6% 28.4% 29.7% 27.6% 27.4% 27.6% 28.4% 30.2% 28.7% 27.4% 26.2% 27.6% 29.4% 28.5% 28.3% 29.0% 22.7% 21.8% 20.9% 19.7% 17.3% 16.6% 16.7% 15.2% 15.0% 2018 20

  9. Slide 9: Industry Cold Storage Supplies in Q2-26 Above YA, but Below 5-Year Average

    Industry Cold Storage Supplies in Q2-26 Above YA, but Below 5-Year Average Total Chicken Inventories 900 850 800 750 LBS (MM) 700 650 600 550 500 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 5 Yr. Avg.  Total Inventories ended Q2 up 0.5% Y/Y and 1.1% Cold Storage Jun-25 May-26 Jun

  10. Slide 10: Jumbo Cutout Pricing Remained Below Year Ago and 5-year Average in Q2-26

    Jumbo Cutout Pricing Remained Below Year Ago and 5-year Average in Q2-26 Jumbo Cutout 150 130 Cents/Lb 110 90 70 50 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 5 Year Range 5 Yr. Avg. 2024 2025 2026 10 Source: PPC, EMI

  11. Slide 11: BSB, Tenders, and Wings Trailed Below YA and 5-yr average; LQ Above

    BSB, Tenders, and Wings Trailed Below YA and 5- yr average; LQ Above YA and 5-yr average USDA Boneless/Skinless Breast USDA Tenders 375.00 375.00 325.00 325.00 275.00 275.00 Cents/Lb Cents/Lb 225.00 225.00 175.00 175.00 125.00 125.00 75.00 75.00 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 1 4

  12. Slide 12: WOG Pricing Below YA and 5-year Average in Q2-26

    WOG Pricing Below YA and 5-year Average in Q2-26 EMI WOG 2.5-4.0 LBS 160.0 150.0 140.0 130.0 120.0 Cents/Lb. 110.0 100.0 90.0 80.0 70.0 60.0 43 41 23 47 15 49 1 13 45 7 9 5 21 37 11 27 39 3 17 29 35 19 25 33 31 51 5 Year Range 5 Yr. Avg. 2024 2025 2026 12 Source: PPC, EMI

  13. Slide 13: Corn Dynamics

    Corn Dynamics US Corn Ending Stocks (MBUs) World Corn Endings Stocks (MMT) 3000 320 315 311 2500 310 304 2020 299 2000 1763 1790 300 296 1551 1500 1377 1360 290 281 1000 280 500 270 0 260 21/22 22/23 23/24 24/25 25/26p 26/27e 2021/22 2022/23 2023/24 2024/25 2025/26 2026/27  US stocks contract with

  14. Slide 14: Soybean Dynamics

    Soybean Dynamics US Soybean Ending Stocks (MBU) World Soy End Stocks (MMT) 400 140 126 125 125 342 350 330 120 115 317 310 300 99 101 274 264 100 250 80 200 60 150 40 100 50 20 0 0 21/22 22/23 23/24 24/25 25/26p 26/27e 2021/22 2022/23 2023/24 2024/25 2025/26 2026/27  USDA expects smaller ending sto

  15. Slide 15: Fiscal Year 2026 Capital Spending

    Fiscal Year 2026 Capital Spending Capex (US$M) 711 559 487 230 461 382 340 348 348 355 272 235 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1 2026 Q2 2026  Continued investment in strategic projects will support Key Customers’ growth and emphasize our focus on further diversification of our p

  16. Slide 16: Appendix

    pilgrims: APPENDIX

  17. Slide 17: Appendix: Reconciliation of Adjusted EBITDA

    Appendix: Reconciliation of Adjusted EBITDA “EBITDA” is defined as the sum of net income plus interest, taxes, depreciation and amortization. “Adjusted EBITDA” is calculated by adding to EBITDA certain items of expense and deducting from EBITDA certain items of income that we believe are not indicat

  18. Slide 18: Appendix: Reconciliation of Adjusted EBITDA

    Appendix: Reconciliation of Adjusted EBITDA PILGRIM'S PRIDE CORPORATION Reconciliation of Adjusted EBITDA (Unaudited) Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands) Net income $ 13,220 $ 356,009 $ 114,670 $ 652,352 Add: Interest expense, ne

  19. Slide 19: Appendix: Reconciliation of LTM Adjusted EBITDA

    Appendix: Reconciliation of LTM Adjusted EBITDA The summary unaudited consolidated income statement data for the 12 months ended June 28, 2026 (the LTM Period) have been calculated by subtracting the applicable unaudited consolidated income statement data for the six months ended June 28, 2026 from

  20. Slide 20: Appendix: Reconciliation of EBITDA Margin

    Appendix: Reconciliation of EBITDA Margin EBITDA margins have been calculated by taking the relevant unaudited EBITDA figures, then dividing by net sales for the applicable period. EBITDA margins are presented because they are used by management and we believe it is frequently used by securities ana

  21. Slide 21: Appendix: Reconciliation of Adjusted EBITDA by Segment

    Appendix: Reconciliation of Adjusted EBITDA by Segment Adjusted EBITDA by segment figures are presented because they are used by management and we believe they are frequently used by securities analysts, investors and other interested parties, as a supplement to our results prepared in accordance wi

  22. Slide 22: Appendix: Reconciliation of Adjusted EBITDA by Segment

    Appendix: Reconciliation of Adjusted EBITDA by Segment Adjusted EBITDA by segment figures are presented because they are used by management and we believe they are frequently used by securities analysts, investors and other interested parties, as a supplement to our results prepared in accordance wi

  23. Slide 23: Appendix: Reconciliation of Adjusted Operating Income

    Appendix: Reconciliation of Adjusted Operating Income Adjusted Operating Income is calculated by adding to Operating Income certain items of expense and deducting from Operating Income certain items of income. Management believes that presentation of Adjusted Operating Income provides useful supplem

  24. Slide 24: Appendix: Reconciliation of GAAP Operating Income Margin to Adjusted Operating Income Margin

    Appendix: Reconciliation of GAAP Operating Income Margin to Adjusted Operating Income Margin Adjusted Operating Income Margin for each of our reportable segments is calculated by dividing Adjusted operating income by Net Sales. Management believes that presentation of Adjusted Operating Income Margi

  25. Slide 25: Appendix: Reconciliation of Adjusted Net Income

    Appendix: Reconciliation of Adjusted Net Income Adjusted net income attributable to Pilgrim's Pride Corporation (“Pilgrim's”) is calculated by adding to Net income attributable to Pilgrim's certain items of expense and deducting from Net income attributable to Pilgrim's certain items of income, as s

  26. Slide 26: Appendix: Reconciliation of GAAP EPS to Adjusted EPS

    Appendix: Reconciliation of GAAP EPS to Adjusted EPS Adjusted EPS is calculated by dividing the adjusted net income attributable to Pilgrim's stockholders by the weighted average number of diluted shares. Management believes that Adjusted EPS provides useful supplemental information about our operat

  27. Slide 27: Appendix: Supplementary Selected Segment and Geographic Data

    Appendix: Supplementary Selected Segment and Geographic Data PILGRIM'S PRIDE CORPORATION Supplementary Selected Segment and Geographic Data (Unaudited) Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands) Sources of net sales by geographic region

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