Pilgrim's Pride Q2 financial results lower

Company launching new artisanal chicken sausages from antibiotic-free, vegetarian-fed birds.

Pilgrim’s Pride this week reported net revenues for the second quarter of 2016 at $2.03 billion versus $2.05 billion a year ago. This resulted in an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $283 million, or 13.9% margin, versus $426 million a year ago, or 20.7% margin. Net income was $153 million, compared to $241 million in the same period in 2015, while adjusted earnings were 58 cents per share compared to 94 cents per share in the year before.

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