Net income in the third quarter dropped to $73 million from $188 million in 2011, though operating income rose from $8.247 billion in 2011 to $8.308 billion this year.
Second-quarter sales were $8.3 billion, up 3.4% compared to last year, while operating income was $302 million, down slightly from last year's $303 million.
The company recognized net income of $39.6 million during the first quarter of 2012, compared to a loss of $119.9 million in the same quarter of the prior year.
McDonald's Corp. announced results for the first quarter ended March 31, 2012, posting higher revenue, operating income and earnings per share over the prior year.
Cargill reported $766 million in earnings from continuing operations in the fiscal 2012 third quarter ended Feb. 29, 2012, essentially even with $763 million earned in the same period a year ago.
For the quarter, the company had a net loss of $8.0 million, or $0.36 per share, compared with a net loss of $33.6 million, or $1.52 per share, for the first quarter of fiscal 2011.
"While 2011 was an extremely challenging year, it was also transformational with respect to Pilgrim's operating model," stated Bill Lovette, Pilgrim's CEO.
Bachoco and the poultry industry in general continued experiencing large increases in production costs, driven by global increases in prices of corn, soybean meal, among other components of the production cost.
