The following is a summary of the Pilgrim's Pride Corporation (PPC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Pilgrim's Pride reported Q3 2024 net revenues of $4.6 billion, a 5.2% increase over the same quarter last year.

• Adjusted EBITDA was reported at $660 million, significantly higher compared to $324 million in Q3 of 2023, with an EBITDA margin of 14.4%, up from 7.4% last year.

Business Progress:

• Strategic diversification and operational excellence in the U.S. led to improving production efficiencies and higher commodity cutout values.

• Europe saw expanded margins from manufacturing benefits, network restructuring, and improved organizational structures.

• Successful collaborations and distribution expansions with key customers drove volume growth.

Opportunities:

• International diversification and new product innovation demonstrated growth, particularly from leading brands and recognition from industry awards.

• Investment anticipation in further capacity expansions and operational efficiency to better serve customer needs.

Risks:

• Potential disruptions in the supply chain due to external factors such as hurricane impacts and logistics were noted, although managed effectively in the short term.

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