Pilgrim's Pride ends fiscal year with a nearly $500 million loss
Pilgrim's Pride Corp. reported sales of $1.83B for the fourth quarter of 2011, compared with $1.81B in the same period for 2010. Adjusted EBITDA for the quarter was $22.6M, and operating cash flows were positive for the same period. The Company recognized a net loss of $85.4M for the fourth quarter, resulting in a $0.40 loss per share.
"While 2011 was an extremely challenging year, it was also transformational with respect to Pilgrim's operating model," stated Bill Lovette, Pilgrim's CEO.