UPDATE: Pilgrim's Pride Posts Q3 Profit

Pilgrim's Pride 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.