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News Breaks | | | | October 27, 2012 | | 08:09 EDT |  | PPC | Pilgrim's Pride reports Q3 EPS 17c, consensus 6c (yesterday)
Reports Q3 revenue $2.07B, consensus $1.95B. The company said yesterday morning in its earnings release, "Notwithstanding a year-over-year increase of $109 million in feed costs, the positive change in our net income for the first three quarters of 2012 is a swing of $672 million compared to 2011, owing to cost and yield improvements, pricing strategy changes, enhanced sales mix and a reduction of $24.6 million in SG&A costs." Shares of Pilgrim's Pride rallied over 16% on Friday following the better than expected results. | |
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