Pilgrim's Pride Corporation Q3 Income Retreats 31%

(RTTNews) - Pilgrim's Pride Corporation (PPC) released a profit for third quarter that declined compared to the same period last year.

The company said its profit declined to $102.80 million, or $0.40 per share. This was lower than $149.84 million, or $0.58 per share, in last year's third quarter.

Analysts had expected the company to earn $0.48 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.8% to $2.03 billion. This was down from $2.11 billion last year.

Pilgrim's Pride Corporation earnings at a glance:

-Earnings (Q3): $102.80 Mln. vs. $149.84 Mln. last year. -Earnings Decline (Y-o-Y): -31.4% -EPS (Q3): $0.40 vs. $0.58 last year. -EPS Decline (Y-o-Y): -31.0% -Analysts Estimate: $0.48 -Revenue (Q3): $2.03 Bln vs. $2.11 Bln last year. -Revenue Change (Y-o-Y): -3.8%