Pilgrim's Pride Reports Third Quarter EPS of $.27

Pilgrim's Pride Corporation

today reported net earnings of $57.9 million, or $0.27 per share, on net sales of $1.7 billion for the third quarter ended September 26, 2010. For the comparable quarter a year ago, the company reported net earnings of $82.7 million, or $1.07 per diluted share, on total sales of $1.7 billion. Pilgrim's currently has 214.3 million shares outstanding, compared to approximately 77.1 million diluted shares outstanding in the year-ago period. Adjusted EBITDA, which excludes restructuring and reorganization charges, was $170.0 million for the third quarter of fiscal 2010, as compared to $185.3 million for the same period a year ago.