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PILGRIMS PRIDE CORP

For the period ended Jun 30, 2024. Filed Aug 1, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 1, 2024

PPC$28.53-0.3%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM10-Q
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission File number 1-9273

PILGRIM’S PRIDE CORPORATION

(Exact name of registrant as specified in its charter)

Delaware75-1285071
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
1770 Promontory Circle80634-9038
GreeleyCO
(Address of principal executive offices)(Zip code)

Registrant’s telephone number, including area code:(970)506-8000

Former name, former address and former fiscal year, if changed since last report: Not Applicable

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbol(s)Name of each exchange on which registered
Common Stock, Par Value $0.01PPCThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated FilerýAccelerated Filer☐
Non-accelerated Filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ Noý

Number of shares outstanding of the issuer’s common stock, $0.01 par value per share, as of July 31, 2024, was 237,123,076.

INDEX

PILGRIM’S PRIDE CORPORATION

PART I. FINANCIAL INFORMATION
Item 1.Condensed Consolidated Financial Statements2
Condensed Consolidated Balance Sheets June 30, 2024 and December 31, 20232
Condensed Consolidated Statements of Income Three and Six Months Ended June 30, 2024 and June 25, 20233
Condensed Consolidated Statements of Comprehensive Income Three and Six Months Ended June 30, 2024 and June 25, 20234
Condensed Consolidated Statements of Stockholders’ Equity Three and Six Months Ended June 30, 2024 and June 25, 20235
Condensed Consolidated Statements of Cash Flows Three and Six Months Ended June 30, 2024 and June 25, 20237
Notes to Condensed Consolidated Financial Statements8
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations34
Item 3.Quantitative and Qualitative Disclosures about Market Risk47
Item 4.Controls and Procedures50
PART II. OTHER INFORMATION51
Item 1.Legal Proceedings51
Item 1A.Risk Factors51
Item 5.Other Information51
Item 6.Exhibits51
SIGNATURES52
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