UPDATE: Pilgrim's Pride Posts Q3 Profit
Pilgrim's Pride (NYSE: PPC) posted a profit in the third quarter.
Pilgrim's Pride posted a quarterly profit of $42.9 million, or $0.17 per share, versus a year-ago loss of $162.5 million, or $0.72 per share.
Its sales surged 9.4% to $2.07 billion. However, analysts were expecting a profit of $0.06 per share on revenue of $1.95 billion.
Pilgrim's Pride's gross margin swung to 5.1%, versus negative 3.3%.
Pilgrim's Pride shares closed at $4.57 yesterday.
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