Meat&Poultry - August 2013 - (Page 11)

Pilgrim’s Pride earnings surge in Q2 Pilgrim’s Pride Corp., based in Greeley, Colo., more than doubled its earnings in the second quarter of 2013 with net income of $190.7 million, or 74 cents per share, compared to $69.4 million, or 27 cents per share, reported in the second quarter of 2012. The company posted net sales of $2.2 billion, an increase from $2.0 billion in the comparable year-ago period. areas of yield improvements and plant cost and efficien- Earnings before interest, taxes, depreciation and amorti- cy gains, all of which contributed to our positive results, zation (EBITDA) were $264.6 million compared to the while our export and Mexico business continue to oper- $125.1 million reported in 2012, the company reported. ate more favorably. “Our second quarter results continue to validate our “We’re also pleased to announce that we have substan- strategy. Our focus on our key customers and ability to tially completed an amendment to our US Credit Facility,” adapt to changing market conditions has helped us gain Lovette explained. “With this amendment, we will refi- significant business in strategic channels to improve our nance the Revolver and the Term Loan B-1 through 2018 sales mix, enabling us to take advantage of strong indus- with reduced interest costs and more favorable covenants.” try fundamentals,” said Bill Lovette, Pilgrim’s CEO. “We Pilgrim’s Pride is a subsidiary of Sáo Paulo, Brazil- continue to reap the benefits of operational excellence in based JBS S.A. BUY AMERICAN! Made in America by Americans! Proudly Serving the Meat and Poultry Industry for over 21 Years ds Aroun Wrap HIGHEST QUALITY-LOW PRICESFAST & PERSONAL SERVICE B Buy DIRECT from the MANUFACTURER! Butch er F & Lab rocks coats Call Brenda Today Omni Apparel, Inc. American Quality in Every Stitch 113 Kingsbridge Drive, Carrollton, GA 30117 Toll-free 1-800-951-COAT (2628) Local 770-838-1008 • Fax 770-838-1038 • e-mail: Ask about our new industrial formulated natural laundry cleaners. • August 2013 • Meat&Poultry • 11

Table of Contents for the Digital Edition of Meat&Poultry - August 2013

Meat&Poultry - August 2013
Table of Contents
Commentary - Beyond foodies
Business Notes - Boyle to step down from AMI leadership
Cobb-Vantress strengthens position in China
Pilgrim’s Pride earnings surge in Q2
Arson suspected in Valley Meat Co. fire
Northern Beef Packers lays off workers
New issues arise around Smithfield/Shuanghui deal
Washington - Horse slaughter storm rages on
Legends of Deli
Deli Report
Gluten-free Growth
Deli packaging dynamics
Competitive edge
Meat Processing Operations & Engineering - Wild about turkey!
Cargill turkey operations gets new president
Tricks of the trade
Sanitation Tips - Equipment selection
Listeria alert
Small Business Matters - On a mission
Show Preview - Packing 'em in
From the Corral - Relieving painful practices
Product Showcase
Names in the News
Classified Advertising
The Insider

Meat&Poultry - August 2013