SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K/A-1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): January 27, 2004
PILGRIM’S PRIDE CORPORATION
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 1-9273 | 75-1285071 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 110 South Texas Street | ||
| Pittsburg, Texas | 75686-0093 | |
| (Address of Principal Executive Offices) | (ZIP Code) |
Registrant’s telephone number, including area code: (903) 855-1000
This report amends the Current Report on Form 8-K filed by Pilgrim’s Pride Corporation (“Pilgrim’s Pride”) on January 27, 2004, to file the historical supplemental financial information contained therein under Item 12 of Form 8-K, rather than Item 7.
Item 12. Results of Operations and Financial Condition.
The information in this Form 8-K and the exhibit attached hereto are furnished solely pursuant to Item 12 of this Form 8-K and shall not be (i) deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or Sections 11 or 12 of the Securities Act of 1933, as amended, or deemed incorporated by reference into a registration statement, proxy statement or report or other document we may file with the SEC, regardless of any general incorporation language in such a filing (except as shall otherwise be expressly set forth by specific reference in such a filing), or (ii) subject to Item 10 of Regulation S-K except as specifically required under the instructions to Item 12 of Form 8-K.
Furnished herewith as Exhibit 99.1 is certain supplemental historical financial information of Pilgrim’s Pride Corporation, including quarterly information regarding net sales by primary market line.
The following exhibit is filed with this report on Form 8-K:
| Exhibit Number |
Description | |
| 99.1 | Supplemental Historical Financial Information |
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PILGRIM’S PRIDE CORPORATION | ||||||
| Date: January 27, 2004 | By: | /s/ Richard A. Cogdill | ||||
| Richard A. Cogdill Executive Vice President, Chief Financial Officer, Secretary and Treasurer | ||||||
Exhibit Index
| Exhibit Number |
Description | |
| 99.1 | Supplemental Historical Financial Information |
Pilgrim’s Pride Corporation
Net Sales by Primary Market Line
for Quarters Ended:
The following table sets forth, for the quarterly periods including and since fiscal 2000, net sales attributable to each of our primary product lines and markets served with those products. We based the table on our internal sales reports and their classification of product types and customers. The information in these tables should be read in conjunction with the information in our SEC filings, including the discussion of our primary product lines and markets served with those products included in our most recent Annual Report on Form 10-K.
| Jan 3, 2004 (a)(b) |
Sept 27, 2003 |
June 28, 2003 |
March 29, 2003 |
Dec 28, 2002 |
Sept 28, 2002 |
June 29, 2002 |
Mar 30, 2002 | |||||||||||||||||
| Chicken Sales: |
||||||||||||||||||||||||
| United States |
||||||||||||||||||||||||
| Prepared Foods: |
||||||||||||||||||||||||
| Foodservice |
$ | 291,989 | $ | 200,989 | $ | 175,493 | $ | 184,802 | $ | 170,048 | $ | 170,700 | $ | 171,568 | $ | 161,171 | ||||||||
| Retail |
$ | 52,626 | $ | 43,048 | $ | 43,343 | $ | 41,202 | $ | 35,425 | $ | 41,357 | $ | 44,438 | $ | 37,691 | ||||||||
| Total Prepared Foods |
$ | 344,615 | $ | 244,037 | $ | 218,835 | $ | 226,004 | $ | 205,473 | $ | 212,057 | $ | 216,006 | $ | 198,862 | ||||||||
| Fresh Chicken: |
||||||||||||||||||||||||
| Foodservice |
$ | 228,949 | $ | 140,962 | $ | 124,290 | $ | 107,250 | $ | 101,749 | $ | 109,058 | $ | 115,080 | $ | 107,795 | ||||||||
| Retail |
$ | 114,036 | $ | 68,975 | $ | 63,863 | $ | 65,405 | $ | 59,668 | $ | 68,505 | $ | 68,619 | $ | 63,113 | ||||||||
| Total Fresh Chicken |
$ | 342,984 | $ | 209,937 | $ | 188,153 | $ | 172,655 | $ | 161,417 | $ | 177,563 | $ | 183,699 | $ | 170,907 | ||||||||
| Export and Other |
||||||||||||||||||||||||
| Prepared Foods |
$ | 9,398 | $ | 7,191 | $ | 7,816 | $ | 6,494 | $ | 5,213 | $ | 7,905 | $ | 7,839 | $ | 7,360 | ||||||||
| Chicken—Other |
$ | 46,969 | $ | 28,771 | $ | 21,043 | $ | 17,341 | $ | 17,931 | $ | 19,861 | $ | 19,782 | $ | 21,479 | ||||||||
| Total Export and Other |
$ | 56,366 | $ | 35,962 | $ | 28,859 | $ | 23,835 | $ | 23,145 | $ | 27,767 | $ | 27,621 | $ | 28,839 | ||||||||
| Total U.S. Chicken |
$ | 743,966 | $ | 489,937 | $ | 435,847 | $ | 422,493 | $ | 390,035 | $ | 417,387 | $ | 427,325 | $ | 398,609 | ||||||||
| Mexico: |
$ | 88,970 | $ | 82,366 | $ | 88,601 | $ | 90,247 | $ | 88,091 | $ | 81,260 | $ | 80,308 | $ | 75,674 | ||||||||
| Total Chicken Sales |
$ | 832,936 | $ | 572,303 | $ | 524,448 | $ | 512,740 | $ | 478,126 | $ | 498,647 | $ | 507,632 | $ | 474,282 | ||||||||
| Total Prepared Foods |
354,013 | 251,228 | 226,651 | 232,498 | 210,686 | 219,963 | 223,845 | 206,222 | ||||||||||||||||
| Turkey Sales: |
||||||||||||||||||||||||
| Prepared Foods: |
||||||||||||||||||||||||
| Foodservice |
$ | 25,980 | $ | 23,001 | $ | 18,658 | $ | 24,100 | $ | 24,198 | $ | 29,729 | $ | 29,732 | $ | 34,082 | ||||||||
| Retail |
$ | 8,176 | $ | 9,280 | $ | 8,455 | $ | 6,394 | $ | 5,013 | $ | 14,284 | $ | 14,723 | $ | 11,803 | ||||||||
| Total Prepared Foods |
$ | 34,156 | $ | 32,280 | $ | 27,112 | $ | 30,495 | $ | 29,211 | $ | 44,013 | $ | 44,454 | $ | 45,884 | ||||||||
| Fresh Turkey: |
||||||||||||||||||||||||
| Foodservice |
$ | 10,370 | $ | 10,222 | $ | 12,114 | $ | 13,545 | $ | 12,568 | $ | 9,797 | $ | 5,561 | $ | 7,970 | ||||||||
| Retail |
$ | 45,153 | $ | 30,510 | $ | 29,993 | $ | 15,507 | $ | 49,401 | $ | 25,402 | $ | 23,585 | $ | 15,498 | ||||||||
| Total Fresh Turkey |
$ | 55,522 | $ | 40,732 | $ | 42,107 | $ | 29,052 | $ | 61,969 | $ | 35,199 | $ | 29,146 | $ | 23,468 | ||||||||
| Export and Other |
||||||||||||||||||||||||
| Prepared Foods |
$ | 589 | $ | 565 | $ | 293 | $ | 486 | $ | 785 | $ | 711 | $ | 473 | $ | 564 | ||||||||
| Turkey—Other |
$ | 3,057 | $ | 3,026 | $ | 2,777 | $ | 2,376 | $ | 2,414 | $ | 2,910 | $ | 2,582 | $ | 2,310 | ||||||||
| Total Export and Other |
$ | 3,646 | $ | 3,590 | $ | 3,070 | $ | 2,862 | $ | 3,199 | $ | 3,621 | $ | 3,055 | $ | 2,874 | ||||||||
| Total Turkey Sales |
$ | 93,324 | $ | 76,603 | $ | 72,289 | $ | 62,408 | $ | 94,379 | $ | 82,833 | $ | 76,656 | $ | 72,226 | ||||||||
| Total Prepared Foods |
$ | 34,745 | $ | 32,845 | $ | 27,405 | $ | 30,981 | $ | 29,995 | $ | 44,724 | $ | 44,927 | $ | 46,448 | ||||||||
| Sale of Other Products |
||||||||||||||||||||||||
| U.S. |
$ | 113,465 | $ | 56,141 | $ | 49,819 | $ | 52,801 | $ | 48,523 | $ | 52,846 | $ | 48,330 | $ | 49,543 | ||||||||
| Mexico |
$ | 4,642 | $ | 4,424 | $ | 5,321 | $ | 2,644 | $ | 6,377 | $ | 5,494 | $ | 4,498 | $ | 4,702 | ||||||||
| Total Other Products |
$ | 118,107 | $ | 60,565 | $ | 55,140 | $ | 55,445 | $ | 54,900 | $ | 58,340 | $ | 52,828 | $ | 54,245 | ||||||||
| Total Net Sales |
$ | 1,044,367 | $ | 709,471 | $ | 651,877 | $ | 630,592 | $ | 627,405 | $ | 639,819 | $ | 637,116 | $ | 600,753 | ||||||||
| Dec 29, 2001 |
Sept 29, 2001 |
June 30, 2001 |
Mar 31, 2001 (c) |
Dec 30, 2000 |
Sept 30, 2000 |
July 1, 2000 |
April 1, 2000 |
Jan 1, 2000 | |||||||||||||||||||
| Chicken Sales: |
|||||||||||||||||||||||||||
| United States |
|||||||||||||||||||||||||||
| Prepared Foods: |
|||||||||||||||||||||||||||
| Foodservice |
$ | 156,417 | $ | 166,891 | $ | 156,859 | $ | 160,349 | $ | 147,975 | $ | 145,294 | $ | 165,577 | $ | 139,859 | $ | 138,665 | |||||||||
| Retail |
$ | 34,813 | $ | 32,204 | $ | 30,350 | $ | 26,029 | $ | 14,618 | $ | 16,661 | $ | 8,874 | $ | 10,698 | $ | 11,422 | |||||||||
| Total Prepared Foods |
$ | 191,230 | $ | 199,095 | $ | 187,209 | $ | 186,378 | $ | 162,593 | $ | 161,955 | $ | 174,451 | $ | 150,557 | $ | 150,087 | |||||||||
| Fresh Chicken: |
|||||||||||||||||||||||||||
| Foodservice |
$ | 116,444 | $ | 121,700 | $ | 165,413 | $ | 62,047 | $ | 38,464 | $ | 46,205 | $ | 54,691 | $ | 51,951 | $ | 49,345 | |||||||||
| Retail |
$ | 58,187 | $ | 65,925 | $ | 43,974 | $ | 78,608 | $ | 36,187 | $ | 37,673 | $ | 39,758 | $ | 37,021 | $ | 34,525 | |||||||||
| Total Fresh Chicken |
$ | 174,632 | $ | 187,625 | $ | 209,386 | $ | 140,655 | $ | 74,651 | $ | 83,878 | $ | 94,449 | $ | 88,972 | $ | 83,870 | |||||||||
| Export and Other |
|||||||||||||||||||||||||||
| Prepared Foods |
$ | 7,423 | $ | 6,290 | $ | 6,450 | $ | 4,793 | $ | 1,379 | $ | 1,466 | $ | 1,378 | $ | 1,050 | $ | 701 | |||||||||
| Chicken—Other |
$ | 32,453 | $ | 34,179 | $ | 19,939 | $ | 24,514 | $ | 27,203 | $ | 16,250 | $ | 12,695 | $ | 13,108 | $ | 15,519 | |||||||||
| Total Export and Other |
$ | 39,877 | $ | 40,469 | $ | 26,389 | $ | 29,307 | $ | 28,582 | $ | 17,716 | $ | 14,073 | $ | 14,158 | $ | 16,221 | |||||||||
| Total U.S. Chicken |
$ | 405,738 | $ | 427,189 | $ | 422,984 | $ | 356,340 | $ | 265,826 | $ | 263,549 | $ | 282,973 | $ | 253,687 | $ | 250,178 | |||||||||
| Mexico: |
$ | 86,528 | $ | 76,055 | $ | 84,078 | $ | 70,447 | $ | 72,853 | $ | 73,176 | $ | 75,686 | $ | 71,804 | $ | 64,939 | |||||||||
| Total Chicken Sales |
$ | 492,266 | $ | 503,244 | $ | 507,063 | $ | 426,787 | $ | 338,679 | $ | 336,725 | $ | 358,659 | $ | 325,491 | $ | 315,117 | |||||||||
| Total Prepared Foods |
$ | 198,653 | $ | 205,385 | $ | 193,659 | $ | 191,172 | $ | 163,972 | $ | 163,421 | $ | 175,829 | $ | 151,607 | $ | 150,788 | |||||||||
| Turkey Sales: |
|||||||||||||||||||||||||||
| Prepared Foods: |
|||||||||||||||||||||||||||
| Foodservice |
$ | 41,109 | $ | 30,915 | $ | 38,535 | $ | 18,561 | — | — | — | — | — | ||||||||||||||
| Retail |
$ | 13,829 | $ | 18,235 | $ | 15,970 | $ | 14,477 | — | — | — | — | — | ||||||||||||||
| Total Prepared Foods |
$ | 54,938 | $ | 49,150 | $ | 54,504 | $ | 33,038 | — | — | — | — | — | ||||||||||||||
| Fresh Turkey: |
|||||||||||||||||||||||||||
| Foodservice |
$ | 12,792 | $ | 6,911 | $ | 6,141 | $ | 5,567 | — | — | — | — | — | ||||||||||||||
| Retail |
$ | 43,097 | $ | 27,898 | $ | 22,947 | $ | 20,802 | — | — | — | — | — | ||||||||||||||
| Total Fresh Turkey |
$ | 55,888 | $ | 34,809 | $ | 29,088 | $ | 26,369 | — | — | — | — | — | ||||||||||||||
| Export and Other |
— | — | — | — | — | ||||||||||||||||||||||
| Prepared Foods |
$ | 1,110 | $ | 851 | $ | 941 | $ | 641 | — | — | — | — | — | ||||||||||||||
| Turkey—Other |
$ | 4,468 | $ | 3,805 | $ | 2,846 | $ | 2,792 | — | — | — | — | — | ||||||||||||||
| Total Export and Other |
$ | 5,578 | $ | 4,656 | $ | 3,788 | $ | 3,433 | — | — | — | — | — | ||||||||||||||
| Total Turkey Sales |
$ | 116,404 | $ | 88,615 | $ | 87,380 | $ | 62,840 | — | — | — | — | — | ||||||||||||||
| Total Prepared Foods |
$ | 56,048 | $ | 50,001 | $ | 55,446 | $ | 33,679 | — | — | |||||||||||||||||
| Sale of Other Products |
|||||||||||||||||||||||||||
| U.S. |
$ | 42,972 | $ | 45,843 | $ | 45,719 | $ | 46,569 | $ | 41,725 | $ | 36,706 | $ | 27,940 | $ | 42,843 | $ | 34,201 | |||||||||
| Mexico |
$ | 4,388 | $ | 3,548 | $ | 5,674 | $ | 5,397 | $ | 5,627 | $ | 5,945 | $ | 5,380 | $ | 4,926 | $ | 5,507 | |||||||||
| Total Other Products |
$ | 47,360 | $ | 49,391 | $ | 51,393 | $ | 51,966 | $ | 47,353 | $ | 42,650 | $ | 33,320 | $ | 47,769 | $ | 39,708 | |||||||||
| Total Net Sales |
$ | 656,030 | $ | 641,249 | $ | 645,836 | $ | 541,593 | $ | 386,032 | $ | 379,375 | $ | 391,979 | $ | 373,260 | $ | 354,825 | |||||||||
| (a) | The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date. |
| (b) | Fiscal quarter ended January 3, 2004 had 14 weeks. |
| (c) | The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date. |
| Jan 3, 2004 (a)(b) |
Sept 27, 2003 |
June 28, 2003 |
March 29, 2003 |
Dec 28, 2002 |
Sept 28, 2002 |
June 29, 2002 |
Mar 30 2002 |
|||||||||||||||||
| Chicken Sales: |
||||||||||||||||||||||||
| U.S. Chicken Sales: |
||||||||||||||||||||||||
| Prepared Foods: |
||||||||||||||||||||||||
| Foodservice |
39.2 | % | 40.9 | % | 40.3 | % | 43.7 | % | 43.6 | % | 40.9 | % | 40.1 | % | 40.4 | % | ||||||||
| Retail |
7.1 | % | 8.8 | % | 9.9 | % | 9.8 | % | 9.1 | % | 9.9 | % | 10.4 | % | 9.5 | % | ||||||||
| Total Prepared Foods |
46.3 | % | 49.7 | % | 50.2 | % | 53.5 | % | 52.7 | % | 50.8 | % | 50.5 | % | 49.9 | % | ||||||||
| Fresh Chicken: |
||||||||||||||||||||||||
| Foodservice |
30.8 | % | 28.8 | % | 28.5 | % | 25.4 | % | 26.1 | % | 26.1 | % | 26.9 | % | 27.0 | % | ||||||||
| Retail |
15.3 | % | 14.1 | % | 14.7 | % | 15.5 | % | 15.3 | % | 16.4 | % | 16.1 | % | 15.8 | % | ||||||||
| Total Fresh Chicken |
46.1 | % | 42.9 | % | 43.2 | % | 40.9 | % | 41.4 | % | 42.5 | % | 43.0 | % | 42.9 | % | ||||||||
| Export and Other |
||||||||||||||||||||||||
| Prepared Foods |
1.3 | % | 1.5 | % | 1.8 | % | 1.5 | % | 1.3 | % | 1.9 | % | 1.8 | % | 1.8 | % | ||||||||
| Chicken—Other |
6.3 | % | 5.9 | % | 4.8 | % | 4.1 | % | 4.6 | % | 4.8 | % | 4.6 | % | 5.4 | % | ||||||||
| Total Export and Other |
7.6 | % | 7.4 | % | 6.6 | % | 5.6 | % | 5.9 | % | 6.7 | % | 6.5 | % | 7.2 | % | ||||||||
| Total U.S. Chicken |
100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | ||||||||
| Turkey Sales: |
||||||||||||||||||||||||
| U.S. Turkey Sales: |
||||||||||||||||||||||||
| Prepared Foods: |
||||||||||||||||||||||||
| Foodservice |
27.8 | % | 30.2 | % | 25.8 | % | 38.6 | % | 25.6 | % | 35.9 | % | 38.8 | % | 47.2 | % | ||||||||
| Retail |
8.8 | % | 12.1 | % | 11.7 | % | 10.2 | % | 5.3 | % | 17.2 | % | 19.2 | % | 16.3 | % | ||||||||
| Total Prepared Foods |
36.6 | % | 42.3 | % | 37.5 | % | 48.9 | % | 31.0 | % | 53.1 | % | 58.0 | % | 63.5 | % | ||||||||
| Fresh Turkey: |
||||||||||||||||||||||||
| Foodservice |
11.1 | % | 13.3 | % | 16.8 | % | 21.7 | % | 13.3 | % | 11.8 | % | 7.3 | % | 11.0 | % | ||||||||
| Retail |
48.4 | % | 39.8 | % | 41.5 | % | 24.8 | % | 52.3 | % | 30.7 | % | 30.8 | % | 21.5 | % | ||||||||
| Total Fresh Turkey |
59.5 | % | 53.1 | % | 58.2 | % | 46.6 | % | 65.7 | % | 42.5 | % | 38.0 | % | 32.5 | % | ||||||||
| Export and Other |
||||||||||||||||||||||||
| Prepared Foods |
0.6 | % | 0.7 | % | 0.4 | % | 0.8 | % | 0.8 | % | 0.9 | % | 0.6 | % | 0.8 | % | ||||||||
| Turkey—Other |
3.3 | % | 3.9 | % | 3.8 | % | 3.8 | % | 2.6 | % | 3.5 | % | 3.4 | % | 3.2 | % | ||||||||
| Total Export and Other |
3.9 | % | 4.6 | % | 4.2 | % | 4.6 | % | 3.4 | % | 4.4 | % | 4.0 | % | 4.0 | % | ||||||||
| Total U.S. Turkey |
100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | ||||||||
| Dec 29 2001 |
Sept 29, 2001 |
June 30, 2001 |
Mar 31, 2001 (c) |
Dec 30, 2000 |
Sept 30, 2000 |
July 1, 2000 |
April 1, 2000 |
Jan 1, 2000 |
|||||||||||||||||||
| Chicken Sales: |
|||||||||||||||||||||||||||
| U.S. Chicken Sales: |
|||||||||||||||||||||||||||
| Prepared Foods: |
|||||||||||||||||||||||||||
| Foodservice |
38.6 | % | 39.1 | % | 37.1 | % | 45.0 | % | 55.7 | % | 55.1 | % | 58.5 | % | 55.1 | % | 55.4 | % | |||||||||
| Retail |
8.6 | % | 7.5 | % | 7.2 | % | 7.3 | % | 5.5 | % | 6.3 | % | 3.1 | % | 4.2 | % | 4.6 | % | |||||||||
| Total Prepared Foods |
47.1 | % | 46.6 | % | 44.3 | % | 52.3 | % | 61.2 | % | 61.5 | % | 61.6 | % | 59.3 | % | 60.0 | % | |||||||||
| Fresh Chicken: |
|||||||||||||||||||||||||||
| Foodservice |
28.7 | % | 28.5 | % | 39.1 | % | 17.4 | % | 14.5 | % | 17.5 | % | 19.3 | % | 20.5 | % | 19.7 | % | |||||||||
| Retail |
14.3 | % | 15.4 | % | 10.4 | % | 22.1 | % | 13.6 | % | 14.3 | % | 14.1 | % | 14.6 | % | 13.8 | % | |||||||||
| Total Fresh Chicken |
43.0 | % | 43.9 | % | 49.5 | % | 39.5 | % | 28.1 | % | 31.8 | % | 33.4 | % | 35.1 | % | 33.5 | % | |||||||||
| Export and Other |
|||||||||||||||||||||||||||
| Prepared Foods |
1.8 | % | 1.5 | % | 1.5 | % | 1.3 | % | 0.5 | % | 0.6 | % | 0.5 | % | 0.4 | % | 0.3 | % | |||||||||
| Chicken—Other |
8.0 | % | 8.0 | % | 4.7 | % | 6.9 | % | 10.2 | % | 6.2 | % | 4.5 | % | 5.2 | % | 6.2 | % | |||||||||
| Total Export and Other |
9.8 | % | 9.5 | % | 6.2 | % | 8.2 | % | 10.8 | % | 6.7 | % | 5.0 | % | 5.6 | % | 6.5 | % | |||||||||
| Total U.S. Chicken |
100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | |||||||||
| Turkey Sales: |
|||||||||||||||||||||||||||
| U.S. Turkey Sales: |
|||||||||||||||||||||||||||
| Prepared Foods: |
|||||||||||||||||||||||||||
| Foodservice |
35.3 | % | 34.9 | % | 44.1 | % | 29.5 | % | — | — | — | — | — | ||||||||||||||
| Retail |
11.9 | % | 20.6 | % | 18.3 | % | 23.0 | % | — | — | — | — | — | ||||||||||||||
| Total Prepared Foods |
47.2 | % | 55.5 | % | 62.4 | % | 52.6 | % | — | — | — | — | — | ||||||||||||||
| Fresh Turkey: |
|||||||||||||||||||||||||||
| Foodservice |
11.0 | % | 7.8 | % | 7.0 | % | 8.9 | % | — | — | — | — | — | ||||||||||||||
| Retail |
37.0 | % | 31.5 | % | 26.3 | % | 33.1 | % | — | — | — | — | — | ||||||||||||||
| Total Fresh Turkey |
48.0 | % | 39.3 | % | 33.3 | % | 42.0 | % | — | — | — | — | — | ||||||||||||||
| Export and Other |
|||||||||||||||||||||||||||
| Prepared Foods |
1.0 | % | 1.0 | % | 1.1 | % | 1.0 | % | — | — | — | — | — | ||||||||||||||
| Turkey—Other |
3.8 | % | 4.3 | % | 3.3 | % | 4.4 | % | — | — | — | — | — | ||||||||||||||
| Total Export and Other |
4.8 | % | 5.3 | % | 4.3 | % | 5.5 | % | — | — | — | — | — | ||||||||||||||
| Total U.S. Turkey |
100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | — | — | — | — | — | ||||||||||||||
| (a) | The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date. |
| (b) | Fiscal quarter ended January 3, 2004 had 14 weeks. |
| (c) | The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date. |
Pilgrim’s Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:
Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC filings.
| Quarters Ended |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1/3/2004 (a)(b) |
09/27/03 |
06/28/03 |
03/29/03 |
12/28/02 |
09/28/02 |
06/29/02 |
03/30/02 |
12/29/01 |
09/29/01 |
06/30/01 |
03/31/01(c) |
12/30/00 |
||||||||||||||||||||||||||||||||||||||||
| United States |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chicken Operations: |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Chicken Sales (000’s) |
$ | 743,966 | $ | 489,937 | $ | 435,848 | $ | 422,493 | $ | 390,034 | $ | 417,387 | $ | 427,325 | $ | 398,608 | $ | 405,738 | $ | 427,191 | $ | 422,985 | $ | 356,341 | $ | 265,824 | ||||||||||||||||||||||||||
| U.S. Chicken Sales divided by U.S.Chicken Net Pounds Produced |
$ | 0.7905 | $ | 0.7504 | $ | 0.6924 | $ | 0.7255 | $ | 0.6617 | $ | 0.6899 | $ | 0.6934 | $ | 0.6872 | $ | 0.7075 | $ | 0.7470 | $ | 0.7232 | $ | 0.7096 | $ | 0.7221 | ||||||||||||||||||||||||||
| U.S. Chicken Net Pounds Produced (000’s) |
941,181 | 652,871 | 629,496 | 582,383 | 589,433 | 604,990 | 616,274 | 580,037 | 573,464 | 571,867 | 584,896 | 502,173 | 368,143 | |||||||||||||||||||||||||||||||||||||||
| Other Operations: |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Sales (000’s) |
113,465 | 56,141 | 49,819 | 52,801 | 48,523 | 52,846 | 48,330 | 49,543 | 42,972 | 45,843 | 45,719 | 46,568 | 41,725 | |||||||||||||||||||||||||||||||||||||||
| U.S. Chicken Sales & Other Sales Totals: |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Chicken Sales & Other Sales (000’s) |
857,431 | 546,078 | 485,667 | 475,294 | 438,557 | 470,233 | 475,655 | 448,151 | 448,710 | 473,034 | 468,704 | 402,909 | 307,552 | |||||||||||||||||||||||||||||||||||||||
| U.S. Chicken & Other Operating Income (000’s) |
52,006 | 41,511 | 26,734 | 2,727 | 4,008 | 4,442 | 13,138 | 3,701 | 9,355 | 27,700 | 26,822 | 1,795 | 18,436 | |||||||||||||||||||||||||||||||||||||||
| U.S. Chicken & Other Operating Income as a percent of U.S. Chicken & Other Sales |
6.07 | % | 7.60 | % | 5.50 | % | 0.57 | % | 0.91 | % | 0.94 | % | 2.76 | % | 0.83 | % | 2.08 | % | 5.86 | % | 5.72 | % | 0.45 | % | 5.99 | % | ||||||||||||||||||||||||||
| Turkey |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Turkey Sales (000’s) |
93,324 | 76,603 | 72,289 | 62,407 | 94,379 | 82,832 | 76,656 | 72,226 | 116,404 | 88,615 | 87,380 | 62,840 | — | |||||||||||||||||||||||||||||||||||||||
| U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced |
$ | 0.8998 | $ | 0.7753 | $ | 0.6617 | $ | 0.5672 | $ | 0.9047 | $ | 0.8353 | $ | 0.7304 | $ | 0.6222 | $ | 1.0311 | $ | 0.7896 | $ | 0.7875 | $ | 0.8282 | — | |||||||||||||||||||||||||||
| U.S. Turkey Operating Income (000’s) |
(15,760 | ) | (23,669 | ) | (19,726 | ) | (16,502 | ) | (14,268 | ) | (10,883 | ) | (5,614 | ) | (7,559 | ) | 5,503 | 2,406 | 3,750 | (1,867 | ) | — | ||||||||||||||||||||||||||||||
| U.S. Turkey Operating Income as a percent of U.S. Turkey Sales |
-16.89 | % | -30.90 | % | -27.29 | % | -26.44 | % | -15.12 | % | -13.14 | % | -7.32 | % | -10.47 | % | 4.73 | % | 2.72 | % | 4.29 | % | -2.97 | % | — | |||||||||||||||||||||||||||
| U.S. Turkey Net Pounds Produced (000's) |
103,718 | 98,806 | 109,252 | 110,024 | 104,321 | 99,165 | 104,946 | 116,074 | 112,896 | 112,233 | 110,958 | 75,879 | — | |||||||||||||||||||||||||||||||||||||||
| U.S. Summary |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Sales (000’s) |
950,755 | 622,681 | 557,956 | 537,701 | 532,936 | 553,065 | 552,311 | 520,377 | 565,114 | 561,649 | 556,084 | 465,749 | 307,552 | |||||||||||||||||||||||||||||||||||||||
| U.S. Cost of Sales (000’s) |
874,644 | 580,392 | 522,326 | 522,291 | 517,183 | 531,360 | 517,671 | 0 | 522,513 | 507,112 | 501,065 | 436,038 | 270,315 | |||||||||||||||||||||||||||||||||||||||
| U.S. Gross Margin (000’s) |
76,111 | 42,289 | 35,630 | 15,410 | 15,753 | 21,705 | 34,640 | 23,081 | 42,601 | 54,537 | 55,019 | 29,711 | 37,237 | |||||||||||||||||||||||||||||||||||||||
| U.S. Gross Margin as a percent of U.S. Sales |
8.01 | % | 6.79 | % | 6.39 | % | 2.87 | % | 2.96 | % | 3.92 | % | 6.27 | % | 4.44 | % | 7.54 | % | 9.71 | % | 9.89 | % | 6.38 | % | 12.11 | % | ||||||||||||||||||||||||||
| U.S. Selling, General and Administrative Expenses (000’s) |
39,865 | 24,447 | 28,622 | 29,185 | 26,013 | 28,146 | 27,116 | 26,939 | 27,743 | 24,431 | 24,448 | 29,783 | 18,801 | |||||||||||||||||||||||||||||||||||||||
| U.S. Selling, General and Administrative Expenses as a percent of U.S Sales |
4.19 | % | 3.93 | % | 5.13 | % | 5.43 | % | 4.88 | % | 5.09 | % | 4.91 | % | 5.18 | % | 4.91 | % | 4.35 | % | 4.40 | % | 6.39 | % | 6.11 | % | ||||||||||||||||||||||||||
| U.S. Operating Income (000’s) |
36,246 | 17,842 | 7,008 | (13,775 | ) | (10,260 | ) | (6,441 | ) | 7,524 | (3,858 | ) | 14,858 | 30,106 | 30,571 | (72 | ) | 18,436 | ||||||||||||||||||||||||||||||||||
| U.S. Operating Income as a percent of U.S. Sales |
3.81 | % | 2.87 | % | 1.26 | % | -2.56 | % | -1.93 | % | -1.16 | % | 1.36 | % | -0.74 | % | 2.63 | % | 5.36 | % | 5.50 | % | -0.02 | % | 5.99 | % | ||||||||||||||||||||||||||
| Mexico |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chicken Operations: |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mexico Chicken Sales (000’s) |
88,970 | 82,366 | 88,600 | 90,247 | 88,092 | 81,260 | 80,307 | 75,674 | 86,528 | 76,054 | 84,078 | 70,447 | 72,853 | |||||||||||||||||||||||||||||||||||||||
| Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced |
$ | 0.5057 | $ | 0.5331 | $ | 0.6175 | $ | 0.5759 | $ | 0.5898 | $ | 0.6234 | $ | 0.6177 | $ | 0.5820 | $ | 0.5812 | $ | 0.5455 | $ | 0.6411 | $ | 0.5039 | $ | 0.5222 | ||||||||||||||||||||||||||
| Mexico Other Operations: |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mexico Other Sales (000’s) |
4,642 | 4,424 | 5,321 | 2,644 | 6,377 | 5,494 | 4,498 | 4,702 | 4,388 | 3,548 | 5,674 | 5,397 | 5,627 | |||||||||||||||||||||||||||||||||||||||
| Mexico Chicken and Other Operating Income (000’s) |
(5,446 | ) | (2,597 | ) | 8,830 | 3,872 | 6,214 | 3,276 | 5,831 | (514 | ) | 8,471 | 1,011 | 13,767 | (5,201 | ) | 2,580 | |||||||||||||||||||||||||||||||||||
| Mexico Operating Income as a percent of Mexico Sales |
-5.82 | % | -2.99 | % | 9.40 | % | 4.17 | % | 6.58 | % | 3.78 | % | 6.88 | % | -0.64 | % | 9.32 | % | 1.27 | % | 15.34 | % | -6.86 | % | 3.29 | % | ||||||||||||||||||||||||||
| Mexico Net Pounds Produced (000’s) |
175,922 | 154,518 | 143,474 | 156,717 | 149,356 | 130,352 | 130,012 | 130,027 | 148,876 | 139,415 | 131,152 | 139,799 | 139,510 | |||||||||||||||||||||||||||||||||||||||
Pilgrim’s Pride Corporation
statistical Management Discussion and Analysis
for quarters ended:
Our Statiscal Management Discussion andAnalysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC Filings.
| Quarters Ended |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1/3/2004(a)(b) |
09/27/03 |
06/28/03 |
03/29/03 |
12/28/02 |
09/28/02 |
06/29/02 |
03/30/02 |
12/29/01 |
09/29/01 |
06/30/01 |
03/31/01 (c) |
12/30/00 |
||||||||||||||||||||||||||||||||||||||||
| Consolidated Operations |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chicken Operations: |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chicken Sales from all Divisions (000's) |
832,936 | 572,303 | 524,448 | 512,740 | 478,126 | 498,647 | 507,632 | 474,282 | 492,266 | 503,245 | 507,063 | 426,788 | 338,677 | |||||||||||||||||||||||||||||||||||||||
| Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions |
$ | 0.7456 | $ | 0.7088 | $ | 0.6785 | $ | 0.6937 | $ | 0.6472 | $ | 0.6781 | $ | 0.6802 | $ | 0.6679 | $ | 0.6815 | $ | 0.7075 | $ | 0.7081 | $ | 0.6648 | $ | 0.6671 | ||||||||||||||||||||||||||
| Chicken Net Pounds Produced from all Divisions (000's) |
1,117,103 | 807,389 | 772,970 | 739,100 | 738,789 | 735,342 | 746,286 | 710,064 | 722,340 | 711,282 | 716,048 | 641,972 | 507,653 | |||||||||||||||||||||||||||||||||||||||
| Other Operations: |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Sales (000's) |
118,107 | 60,565 | 55,140 | 55,445 | 54,900 | 58,340 | 52,828 | 54,245 | 47,360 | 49,391 | 51,393 | 51,965 | 47,352 | |||||||||||||||||||||||||||||||||||||||
| Totals All Operations: |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Net Sales (000's) |
1,044,367 | 709,471 | 651,877 | 630,592 | 627,405 | 639,819 | 637,116 | 600,753 | 656,030 | 641,251 | 645,836 | 541,593 | 386,032 | |||||||||||||||||||||||||||||||||||||||
| Total Cost of Sales (000's) |
967,264 | 660,084 | 600,932 | 604,919 | 599,406 | 608,213 | 590,808 | 572,122 | 598,166 | 579,307 | 571,360 | 512,377 | 341,061 | |||||||||||||||||||||||||||||||||||||||
| Gross Margin from all operations (000's) |
77,103 | 49,387 | 50,945 | 25,673 | 27,999 | 31,606 | 46,308 | 28,631 | 57,864 | 61,944 | 74,476 | 29,216 | 44,971 | |||||||||||||||||||||||||||||||||||||||
| Gross Margin from all operations as a percent of Total Net Sales |
7.38 | % | 6.96 | % | 7.82 | % | 4.07 | % | 4.46 | % | 4.94 | % | 7.27 | % | 4.77 | % | 8.82 | % | 9.66 | % | 11.53 | % | 5.39 | % | 11.65 | % | ||||||||||||||||||||||||||
| Total Selling, General and Administrative Expenses (000's) |
46,303 | 34,142 | 35,107 | 35,576 | 32,045 | 34,771 | 32,953 | 33,003 | 34,535 | 30,827 | 30,138 | 34,488 | 23,955 | |||||||||||||||||||||||||||||||||||||||
| Total Selling, General and Administrative Expenses as a percent of Total Net Sales |
4.43 | % | 4.81 | % | 5.39 | % | 5.64 | % | 5.11 | % | 5.43 | % | 5.17 | % | 5.49 | % | 5.26 | % | 4.81 | % | 4.67 | % | 6.37 | % | 6.21 | % | ||||||||||||||||||||||||||
| Operating Income from all operations (000's) |
30,800 | 15,245 | 15,838 | (9,903 | ) | (4,046 | ) | (3,165 | ) | 13,355 | (4,372 | ) | 23,329 | 31,117 | 44,338 | (5,272 | ) | 21,016 | ||||||||||||||||||||||||||||||||||
| Operating Income from all operations as a percent of Total Net Sales |
2.95 | % | 2.15 | % | 2.43 | % | 1.57 | % | -0.64 | % | -0.49 | % | 2.10 | % | -0.73 | % | 3.56 | % | 4.85 | % | 6.87 | % | -0.97 | % | 5.44 | % | ||||||||||||||||||||||||||
| Avian Influenza Reimbursement (000's) |
10,434 | 67 | 1,749 | 14,301 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
| Vitamin Settlements (000's) |
43 | 10,235 | 9,564 | 86 | 65 | 691 | — | — | — | 1,149 | — | 2,195 | ||||||||||||||||||||||||||||||||||||||||
| Total Adjustments (000'S) | — | 10,477 | 10,302 | 11,313 | 14,387 | 65 | 691 | — | — | — | 1,149 | — | 2,195 | |||||||||||||||||||||||||||||||||||||||
| Consolidated Adjusted Chicken and Turkey Operating Income (000's) |
30,800 | 25,722 | 26,140 | 1,410 | 10,341 | (3,100 | ) | 14,046 | (4,372 | ) | 23,329 | 31,117 | 45,487 | (5,272 | ) | 23,211 | ||||||||||||||||||||||||||||||||||||
| Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales |
2.95 | % | 3.63 | % | 4.01 | % | 0.22 | % | 1.65 | % | -0.48 | % | 2.20 | % | -0.73 | % | 3.56 | % | 4.85 | % | 7.04 | % | -0.97 | % | 6.01 | % | ||||||||||||||||||||||||||
| (a) | The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date. These results include net sales of $209.9 million and $49.2 million of Chicken Products and Other Products, respectively, and production of 286.1 million pounds of chicken products. |
| (b) | 14 week Quarter. |
| (c) | The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date. |
4
Pilgrim’s Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:
Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC filings.
| 09/30/00 |
07/01/00 |
04/01/00 |
01/01/00 |
10/02/99 |
07/03/99 |
04/03/99 |
01/02/99(b) |
09/26/98 |
06/27/98 |
03/28/98 |
12/27/97 |
09/27/97 |
6/28/97 |
03/29/97 |
12/28/96 |
|||||||||||||||||||||||||||||||||||||||||||||||||
| United States |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chicken Operations: |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Chicken Sales (000’s) | $ | 263,549 | $ | 282,973 | $ | 253,687 | $ | 250,178 | $ | 249,181 | $ | 254,794 | $ | 236,673 | $ | 222,848 | $ | 243,772 | $ | 228,719 | $ | 218,268 | $ | 218,634 | $ | 233,779 | $ | 227,111 | $ | 204,128 | $ | 193,147 | ||||||||||||||||||||||||||||||||
| U.S. Chicken Sales divided by U.S. Chicken Net Pounds Produced |
$ | 0.7173 | $ | 0.7187 | $ | 0.6624 | $ | 0.7140 | $ | 0.7220 | $ | 0.7317 | $ | 0.6953 | $ | 0.6517 | $ | 0.7828 | $ | 0.7196 | $ | 0.6908 | $ | 0.6816 | $ | 0.7017 | $ | 0.6926 | $ | 0.7090 | $ | 0.7163 | ||||||||||||||||||||||||||||||||
| U.S. Chicken Net Pounds Produced (000’s) | 367,431 | 393,755 | 382,955 | 350,409 | 345,141 | 348,232 | 340,387 | 341,931 | 311,428 | 317,849 | 315,948 | 320,773 | 333,184 | 327,928 | 287,915 | 269,655 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Other Operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Sales (000’s) | 36,706 | 27,940 | 42,843 | 34,201 | 32,151 | 26,461 | 36,690 | 44,105 | 34,391 | 32,656 | 36,074 | 40,942 | 34,382 | 33,619 | 38,095 | 38,391 | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Chicken Sales & Other Sales Totals: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Chicken Sales & Other Sales (000’s) | 300,255 | 310,913 | 296,530 | 284,379 | 281,332 | 281,255 | 273,363 | 266,953 | 278,163 | 261,375 | 254,342 | 259,576 | 268,161 | 260,730 | 242,223 | 231,538 | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Chicken & Other Operating Income (000’s) | 8,411 | 12,909 | 3,502 | 21,106 | 25,619 | 22,076 | 21,741 | 18,741 | 22,266 | 8,434 | 3,104 | 2,473 | 10,300 | 4,622 | 4,031 | 10,369 | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Chicken & Other Operating Income as a percent of U.S. Chicken & Other Sales |
2.80 | % | 4.15 | % | 1.18 | % | 7.42 | % | 9.11 | % | 7.85 | % | 7.95 | % | 7.02 | % | 8.00 | % | 3.23 | % | 1.22 | % | 0.95 | % | 3.84 | % | 1.77 | % | 1.66 | % | 4.48 | % | ||||||||||||||||||||||||||||||||
| Turkey |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Turkey Sales (000’s) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced |
— | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Turkey Operating Income (000’s) |
— | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Turkey Operating Income as a percent of U.S. Turkey Sales |
— | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Turkey Net Pounds Produced (000’s) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Summary | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Sales (000’s) | 300,255 | 310,913 | 296,530 | 284,379 | 281,332 | 281,255 | 273,363 | 266,953 | 278,163 | 261,375 | 254,342 | 259,576 | 268,161 | 260,730 | 242,223 | 231,538 | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Cost of Sales (000’s) | 273,604 | 282,676 | 276,987 | 247,149 | 242,313 | 243,018 | 234,533 | 234,667 | 244,055 | 241,956 | 239,915 | 246,985 | 253,014 | 244,820 | 227,462 | 210,213 | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Gross Margin (000’s) | 26,651 | 28,237 | 19,543 | 37,230 | 39,019 | 38,236 | 38,830 | 32,287 | 34,108 | 19,419 | 14,427 | 12,591 | 15,147 | 15,910 | 14,761 | 21,325 | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Gross Margin as a percent of U.S. Sales |
8.88 | % | 9.08 | % | 6.59 | % | 13.09 | % | 13.87 | % | 13.59 | % | 14.20 | % | 12.09 | % | 12.26 | % | 7.43 | % | 5.67 | % | 4.85 | % | 5.65 | % | 6.10 | % | 6.09 | % | 9.21 | % | ||||||||||||||||||||||||||||||||
| U.S. Selling, General and Administrative Expenses (000’s) | 18,240 | 15,328 | 16,041 | 16,124 | 13,399 | 16,160 | 17,089 | 13,545 | 11,842 | 10,985 | 11,323 | 10,118 | 4,847 | 11,288 | 10,730 | 10,956 | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Selling, General and Administrative Expenses as a percent of U.S. Sales |
6.07 | % | 4.93 | % | 5.41 | % | 5.67 | % | 4.76 | % | 5.75 | % | 6.25 | % | 5.07 | % | 4.26 | % | 4.20 | % | 4.45 | % | 3.90 | % | 1.81 | % | 4.33 | % | 4.43 | % | 4.73 | % | ||||||||||||||||||||||||||||||||
| U.S. Operating Income (000’s) | 8,411 | 12,909 | 3,502 | 21,106 | 25,619 | 22,076 | 21,741 | 18,741 | 22,266 | 8,434 | 3,104 | 2,473 | 10,300 | 4,622 | 4,031 | 10,369 | ||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Operating Income as a percent of U.S. Sales |
2.80 | % | 4.15 | % | 1.18 | % | 7.42 | % | 9.11 | % | 7.85 | % | 7.95 | % | 7.02 | % | 8.00 | % | 3.23 | % | 1.22 | % | 0.95 | % | 3.84 | % | 1.77 | % | 1.66 | % | 4.48 | % | ||||||||||||||||||||||||||||||||
| Mexico |
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| Chicken Operations: |
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| Mexico Chicken Sales (000’s) |
73,176 | 75,686 | 71,804 | 64,939 | 60,244 | 57,870 | 51,805 | 63,613 | 55,508 | 59,945 | 63,333 | 78,311 | 73,113 | 74,438 | 61,178 | 66,268 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced |
$ | 0.5634 | $ | 0.6585 | $ | 0.6309 | $ | 0.5141 | $ | 0.4746 | $ | 0.5505 | $ | 0.5290 | $ | 0.5022 | $ | 0.6025 | $ | 0.6491 | $ | 0.6253 | $ | 0.6803 | $ | 0.6612 | $ | 0.6916 | $ | 0.5959 | $ | 0.6538 | ||||||||||||||||||||||||||||||||
| Mexico Other Operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mexico Other Sales (000’s) | 5,945 | 5,380 | 4,926 | 5,507 | 5,685 | 5,035 | 4,726 | 5,522 | 7,040 | 7,180 | 6,771 | 7,823 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mexico Chicken and Other Operating Income (000’s) | 7,225 | 13,439 | 9,779 | 4,116 | 3,195 | 7,136 | 3,551 | 7,445 | 9,178 | 10,608 | 8,294 | 12,898 | 14,993 | 8,005 | 5,630 | 5,945 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Mexico Operating Income as a percent of Mexico Sales |
9.13 | % | 16.58 | % | 12.74 | % | 5.84 | % | 4.85 | % | 11.34 | % | 6.28 | % | 10.77 | % | 14.67 | % | 15.80 | % | 11.83 | % | 16.47 | % | 20.51 | % | 10.75 | % | 9.20 | % | 8.97 | % | ||||||||||||||||||||||||||||||||
| Mexico Net Pounds Produced (000’s) | 129,877 | 114,931 | 113,805 | 126,313 | 126,948 | 105,117 | 97,927 | 126,657 | 92,135 | 92,350 | 101,276 | 115,118 | 110,570 | 107,635 | 102,663 | 101,357 | ||||||||||||||||||||||||||||||||||||||||||||||||
Pilgrim’s Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:
Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC filings.
| 09/30/00 |
07/01/00 |
04/01/00 |
01/01/00 |
10/02/99 |
07/03/99 |
04/03/99 |
01/02/99(b) |
09/26/98 |
06/27/98 |
03/28/98 |
12/27/97 |
09/27/97 |
6/28/97 |
03/29/97 |
12/28/96 |
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| Consolidated Operations |
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| Chicken Operations: |
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| Chicken Sales from all Divisions (000's) |
336,725 | 358,659 | 325,491 | 315,117 | 309,425 | 312,664 | 288,478 | 286,461 | 299,280 | 288,664 | 281,601 | 289,122 | 306,892 | 301,549 | 265,306 | 259,415 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions |
$ | 0.6771 | $ | 0.7051 | $ | 0.6552 | $ | 0.6610 | $ | 0.6554 | $ | 0.6897 | $ | 0.6582 | $ | 0.6113 | $ | 0.7416 | $ | 0.7037 | $ | 0.6749 | $ | 0.6633 | $ | 0.6916 | $ | 0.6923 | $ | 0.6793 | $ | 0.6992 | ||||||||||||||||||||||||||||||||
| Chicken Net Pounds Produced from all Divisions (000's) |
497,308 | 508,686 | 496,760 | 476,722 | 472,089 | 453,349 | 438,314 | 468,588 | 403,563 | 410,199 | 417,224 | 435,891 | 443,754 | 435,563 | 390,578 | 371,012 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Other Operations: |
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| Other Sales (000's) |
42,651 | 33,320 | 47,769 | 39,708 | 37,836 | 31,496 | 41,416 | 49,627 | 41,431 | 39,836 | 42,845 | 48,765 | 34,382 | 33,619 | 38,095 | 38,391 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Totals All Operations: |
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| Total Net Sales (000's) |
379,375 | 391,979 | 373,260 | 354,825 | 347,261 | 344,160 | 329,894 | 336,088 | 340,711 | 328,500 | 324,446 | 337,887 | 341,274 | 335,168 | 303,401 | 297,806 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cost of Sales (000's) |
339,718 | 345,314 | 339,231 | 309,348 | 301,131 | 294,745 | 283,632 | 292,187 | 293,586 | 295,764 | 297,585 | 308,507 | 307,414 | 307,883 | 280,316 | 267,539 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Gross Margin from all operations (000's) |
39,658 | 46,665 | 34,029 | 45,477 | 46,131 | 49,415 | 46,262 | 43,900 | 47,125 | 32,736 | 26,861 | 29,380 | 33,860 | 27,285 | 23,085 | 30,267 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Gross Margin from all operations as a percent of Total Net Sales |
10.45 | % | 11.90 | % | 9.12 | % | 12.82 | % | 13.28 | % | 14.36 | % | 14.02 | % | 13.06 | % | 13.83 | % | 9.97 | % | 8.28 | % | 8.70 | % | 9.92 | % | 8.14 | % | 7.61 | % | 10.16 | % | ||||||||||||||||||||||||||||||||
| Total Selling, General and Administrative Expenses (000's) |
24,022 | 20,316 | 20,747 | 20,255 | 17,316 | 20,203 | 20,970 | 17,715 | 15,681 | 13,694 | 15,463 | 14,009 | 8,567 | 14,658 | 13,425 | 13,953 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total Selling, General and Administrative Expenses as a percent of Total Net Sales |
6.33 | % | 5.18 | % | 5.56 | % | 5.71 | % | 4.99 | % | 5.87 | % | 6.36 | % | 5.27 | % | 4.60 | % | 4.17 | % | 4.77 | % | 4.15 | % | 2.51 | % | 4.37 | % | 4.42 | % | 4.69 | % | ||||||||||||||||||||||||||||||||
| Operating Income from all operations (000's) |
15,636 | 26,349 | 13,282 | 25,222 | 28,814 | 29,212 | 25,292 | 26,186 | 31,444 | 19,042 | 11,398 | 15,371 | 25,293 | 12,627 | 9,660 | 16,314 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Income from all operations as a percent of Total Net Sales |
4.12 | % | 6.72 | % | 3.56 | % | 7.11 | % | 8.30 | % | 8.49 | % | 7.67 | % | 7.79 | % | 9.23 | % | 5.80 | % | 3.51 | % | 4.55 | % | 7.41 | % | 3.77 | % | 3.18 | % | 5.48 | % | ||||||||||||||||||||||||||||||||
| Avian Influenza Reimbursement (000's) |
— | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| Vitamin Settlements (000's) |
— | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total Adjustments (000'S) |
— | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| Consolidated Adjusted Chicken and Turkey Operating Income (000's) |
15,636 | 26,349 | 13,282 | 25,222 | 28,814 | 29,212 | 25,292 | 26,186 | 31,444 | 19,042 | 11,398 | 15,371 | 25,293 | 12,627 | 9,660 | 16,314 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales |
4.12 | % | 6.72 | % | 3.56 | % | 7.11 | % | 8.30 | % | 8.49 | % | 7.67 | % | 7.79 | % | 9.23 | % | 5.80 | % | 3.51 | % | 4.55 | % | 7.41 | % | 3.77 | % | 3.18 | % | 5.48 | % | ||||||||||||||||||||||||||||||||
| (a) | The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date. These results include net sales of $209.9 million and $49.2 million of Chicken Products and Other Products, respectively, and production of 286.1 million pounds of chicken products. |
| (b) | 14 week Quarter. |
| (c) | The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date. |