Pilgrim's Pride Corp. reported a net loss of $162.5 million, or $0.76 per share, on net sales of $1.9 billion for the third quarter ended September 25, 2011. For the comparable quarter a year ago, the company reported net earnings of $57.9 million, or $0.27 per share, on total sales of $1.7 billion.

Bill Lovette, CEO of Pilgrim's Pride, commented on the results, stating, "The quarter results included non-recurring charges of $52.7 million, without which our net loss per share would have been $0.52. We are at a $295 million run rate against our goal of $400 million on operational improvements, which helped provide a positive operating cash flow of $10.7 million for the quarter. We continue to drive ownership, responsibility and accountability at every level. We are making decisions now that will drive profitability going forward."