0000802481-26-000081 | 10-Q | XBRL Viewer

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 27, 2026
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded income tax expense of $82.9 million, a 26.4% effective tax rate, for the nine months ended September 27, 2026, compared to income tax expense of $332.0 million, a 25.0% effective tax rate, for the nine months ended September 28, 2025. The decrease in income tax expense in 2026 resulted primarily from the decrease in profit before income taxes. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carry back and carry forward periods), projected future taxable income and tax-planning strategies in making this assessment. As of September 27, 2026, the Company did not believe it had sufficient positive evidence to conclude that a portion of its foreign net deferred tax assets are more likely than not to be realized. For the nine months ended September 27, 2026 and September 28, 2025, there are immaterial tax effects reflected in other comprehensive income. For the nine months ended September 27, 2026 and September 28, 2025, there are immaterial tax effects reflected in income tax expense due to excess tax windfalls and shortfalls related to stock-based compensation. The Company operates in the U.S. (including multiple state jurisdictions), Puerto Rico and several foreign locations including Mexico, the U.K., the Republic of Ireland and continental Europe. With few exceptions, the Company is no longer subject to examinations by taxing authorities for years prior to 2020 in U.S. federal, state and local jurisdictions, for years prior to 2010 in Mexico, and for years prior to 2017 in the U.K. On December 30, 2024, the Company entered into a tax sharing agreement (the “Tax Sharing Agreement”) with JBS USA governing the allocation, and certain payment and reimbursement obligations of U.S. income tax liabilities and assets among the Company and its relevant U.S. corporate subsidiaries, on the one hand, and JBS USA and its relevant U.S. subsidiaries, on the other hand. The Tax Sharing Agreement is effective for each tax year beginning on or after December 30, 2024 or such other date in which PPC becomes a member of the Parent Consolidated Group (as defined in the Tax Sharing Agreement). Starting January 1, 2024, the rules of Pillar II came into effect in several jurisdictions, impacting multinational companies operating in these markets. However, during the first three years of implementation, transitional rules have been introduced to simplify the calculation of the effective tax rate per jurisdiction, facilitating the adaptation of multinational groups to the new requirements. As the Group is in scope of these rules and operates in multiple jurisdictions where the global minimum tax is effective, including France, Ireland, Luxembourg, Malta, the Netherlands, and the United Kingdom, the Company carried out assessment procedures to analyze the potential impacts arising from these regulations. Based on the analyses conducted to date, no material tax exposure has been identified as a result of the application of this tax.

- Definition

The entire disclosure for income tax.

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+ Details

SUPPLIER FINANCE PROGRAMS (Details) - USD ($) $ in Millions	Sep. 27, 2026	Dec. 28, 2025
Supplier Finance Program [Line Items]
Outstanding balance of confirmed invoices	$ 248.7	$ 209.4
Minimum
Supplier Finance Program [Line Items]
Supplier finance program, payment timing period (in days)	65 days
Maximum
Supplier Finance Program [Line Items]
Supplier finance program, payment timing period (in days)	120 days

PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 27, 2026

Property, Plant, and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment (“PP&E”), net consisted of the following:


	September 27, 2026		December 28, 2025
	(In thousands)
Land	$	221,977	$	220,462
Buildings	2,534,259		2,445,820
Machinery and equipment	4,727,673		4,417,923
Autos and trucks	139,548		137,293
Finance lease assets	4,233		4,990
Construction-in-progress	655,861		667,315
PP&E, gross	8,283,551		7,893,803
Accumulated depreciation	(4,431,608)		(4,360,776)
PP&E, net	$	3,851,943	$	3,533,027

The Company recognized depreciation expense of $114.7 million and $108.0 million during the three months ended September 27, 2026 and September 28, 2025, respectively. The Company recognized depreciation expense of $340.2 million and $309.6 million during the nine months ended September 27, 2026 and September 28, 2025, respectively.

During the nine months ended September 27, 2026, the Company incurred $691.7 million on capital projects and transferred $643.2 million of completed projects from construction-in-progress to depreciable assets. During the nine months ended September 28, 2025, the Company incurred $437.3 million on capital projects and transferred $259.3 million of completed projects from construction-in-progress to depreciable assets. Capital expenditures in accounts payable and accrued expenses for the periods ended September 27, 2026 and December 28, 2025 were $48.7 million and $40.2 million, respectively.

During the three and nine months ended September 27, 2026, the Company sold certain PP&E for $1.3 million and $11.7 million, respectively, in cash and recognized a net loss of $2.6 million and $5.2 million, respectively, on these sales. During the three and nine months ended September 28, 2025, the Company sold certain PP&E for $1.2 million and $4.1 million, respectively, in cash and recognized a net loss of $0.9 million and $2.9 million, respectively, on these sales.

The Company has closed or idled various other facilities in the U.S. and in the U.K. The Board of Directors has not determined if it would be in the best interest of the Company to divest any of these idled assets. Management is therefore not certain that it can or will divest any of these assets within one year, is not actively marketing these assets and, accordingly, has not classified them as assets held for sale. The Company continues to depreciate these assets. As of September 27, 2026, the carrying amounts of these idled assets totaled $15.9 million based on a depreciable value of $82.6 million and accumulated depreciation of $66.7 million. During the nine months ended September 27, 2026, the Company recognized impairment losses on PP&E of $22.3 million due to the announced closure of a plant in Chattanooga, TN and the completion of a plant conversion project in Russellville, AL due to a change in product mix that required the installation of new equipment and replacement of certain existing equipment. These losses were recognized in Cost of sales in the Condensed Consolidated Statement of Income for the nine months ended September 27, 2026.

As of September 27, 2026, the Company assessed if events or changes in circumstances indicated that the asset group-level carrying amounts of its PP&E held for use might not be recoverable. There were no indicators present that required the Company to test the recoverability of the asset group-level carrying amounts of its PP&E held for use at that date.

- Definition

The entire disclosure for property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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+ Details

REPORTABLE SEGMENTS - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Net sales
Total net sales	$ 4,653,206	$ 4,759,342	$ 13,812,069	$ 13,979,716
Total cost of sales	4,319,534	4,099,958	12,793,155	12,050,164
Total gross profit	333,672	659,384	1,018,914	1,929,552
Total SG&A expenses	142,169	164,997	587,441	498,233
Operating income
Total operating income	191,503	492,608	420,009	1,409,429
Interest expense, net of capitalized interest	31,782	38,157	119,489	122,370
Interest income	(1,579)	(9,167)	(12,199)	(45,144)
Foreign currency transaction losses	1,304	5,169	888	8,008
Miscellaneous, net	(298)	(2,931)	(2,075)	(3,209)
Income before income taxes	160,294	461,380	313,906	1,327,404
Income tax expense	43,977	118,319	82,919	331,991
Net income	116,317	343,061	230,987	995,413
U.S.
Net sales
Total net sales	2,562,969	2,716,973	7,632,646	8,073,949
Europe
Net sales
Total net sales	1,353,647	1,371,726	4,045,324	3,934,152
Mexico
Net sales
Total net sales	609,852	538,528	1,771,940	1,611,556
Asia-Pacific
Net sales
Total net sales	84,507	96,700	231,794	248,067
Canada, Caribbean and Central America
Net sales
Total net sales	19,397	18,049	67,216	54,245
Africa
Net sales
Total net sales	15,380	10,298	39,755	35,929
South America
Net sales
Total net sales	7,454	7,068	23,394	21,818
U.S.
Net sales
Total net sales	2,680,134	2,836,613	7,964,774	8,400,187
U.S. \| Operating Segments
Net sales
Total cost of sales	2,496,949	2,353,296	7,388,075	7,040,006
Total gross profit	183,185	483,317	576,699	1,360,181
Total SG&A expenses	77,396	99,194	395,113	302,265
Operating income
Total operating income	105,789	384,123	181,586	1,057,916
Interest expense, net of capitalized interest	31,075	37,434	116,941	120,069
Interest income	(689)	(4,581)	(4,729)	(25,999)
Income tax expense	21,484	94,424	19,988	243,640
Europe
Net sales
Total net sales	1,374,013	1,392,495	4,115,404	3,995,294
Europe \| Operating Segments
Net sales
Total cost of sales	1,261,691	1,271,148	3,771,806	3,633,510
Total gross profit	112,322	121,347	343,598	361,784
Total SG&A expenses	48,907	50,084	143,413	150,920
Restructuring activities charges	0	1,779	11,464	21,890
Operating income
Total operating income	63,415	69,484	188,721	188,974
Interest expense, net of capitalized interest	497	550	1,926	1,799
Interest income	(621)	(553)	(5,669)	(3,881)
Income tax expense	15,313	14,135	45,886	40,058
Mexico
Net sales
Total net sales	599,059	530,234	1,731,891	1,584,235
Mexico \| Operating Segments
Net sales
Total cost of sales	560,894	475,514	1,633,274	1,376,648
Total gross profit	38,165	54,720	98,617	207,587
Total SG&A expenses	15,866	15,719	48,915	45,048
Operating income
Total operating income	22,299	39,001	49,702	162,539
Interest expense, net of capitalized interest	210	173	622	502
Interest income	(269)	(4,033)	(1,801)	(15,264)
Income tax expense	7,180	9,760	17,045	48,293
Mexico \| Eliminations
Net sales
Total net sales	$ 26,700	$ 28,500	$ 75,000	$ 77,700

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Income Statement [Abstract]
Net sales	$ 4,653,206	$ 4,759,342	$ 13,812,069	$ 13,979,716
Cost of sales	4,319,534	4,099,958	12,793,155	12,050,164
Gross profit	333,672	659,384	1,018,914	1,929,552
Selling, general and administrative expense	142,169	164,997	587,441	498,233
Restructuring activities	0	1,779	11,464	21,890
Operating income	191,503	492,608	420,009	1,409,429
Interest expense, net of capitalized interest	31,782	38,157	119,489	122,370
Interest income	(1,579)	(9,167)	(12,199)	(45,144)
Foreign currency transaction losses	1,304	5,169	888	8,008
Miscellaneous, net	(298)	(2,931)	(2,075)	(3,209)
Income before income taxes	160,294	461,380	313,906	1,327,404
Income tax expense	43,977	118,319	82,919	331,991
Net income	116,317	343,061	230,987	995,413
Less: Net income (loss) attributable to noncontrolling interest	(1,289)	248	(1,419)	1,047
Net income attributable to Pilgrim’s Pride Corporation	$ 117,606	$ 342,813	$ 232,406	$ 994,366
Weighted average shares of Pilgrim’s Pride Corporation common stock outstanding:
Basic (in shares)	238,105	237,546	237,915	237,387
Effect of dilutive common stock equivalents (in shares)	928	980	897	1,024
Diluted (in shares)	239,033	238,526	238,812	238,411
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:
Basic (in dollars per share)	$ 0.49	$ 1.44	$ 0.98	$ 4.19
Diluted (in dollars per share)	$ 0.49	$ 1.44	$ 0.97	$ 4.17

DEBT (Tables)

9 Months Ended

Sep. 27, 2026

Debt Disclosure [Abstract]

Schedule of Long-term Debt and Other Borrowing Arrangements

Long-term debt and other borrowing arrangements, including current notes payable to banks, consisted of the

following components:


	Maturity	September 27, 2026		December 28, 2025
		(In thousands)
Euro Senior notes payable, net of discount, at 4.75%	2034	$	568,788	$	—
Senior notes payable, net of discount, at 6.875%	2034	492,942		492,251
Senior notes payable, net of discount, at 6.25%	2033	669,456		917,852
Senior notes payable, net of discount, at 3.50%	2032	889,592		899,600
Senior notes payable, net of discount, at 4.25%	2031	792,541		791,946
U.S. Credit Facility (defined below) at SOFR plus 1.35%	2028	—		—
Europe Credit Facility (defined below) with notes payable at SONIA plus 1.00%	2031	—		—
Mexico BBVA Credit Facility (defined below) with notes payable at TIIE plus 1.35%	2028	—		—
Mexico Bajio Credit Facility (defined below) with notes payable at TIIE plus 1.41%	2030	—		—
Live Oak CHP Project PACE Loan 5.15%	2053	20,276		19,163
Finance lease obligations	Various	959		1,389
Long-term debt		3,434,555		3,122,201
Less: Current maturities of long-term debt		(911)		(924)
Long-term debt, less current maturities		3,433,644		3,121,277
Less: Capitalized financing costs		(28,938)		(28,164)
Long-term debt, less current maturities, net of capitalized financing costs		$	3,404,706	$	3,093,113

Schedule of Key Terms of Our Available Credit Facilities

The following table presents the key terms of our available credit facilities:

Facility

Limit

Maturity

Rate Basis

Availability (USD)

U.S. Credit Facility(a)

USD

850.0

million

2028

SOFR + 1.35%

846.2

million

Europe Credit Facility

GBP

150.0

million

2031

SONIA + 1.00%

198.7

million

Mexico BBVA Credit Facility

MXN

1.3

billion

2028

TIIE +1.35%

72.1

million

Mexico Bajio Credit Facility

MXN

1.5

billion

2030

TIIE +1.41%

84.8

million

1,201.8

million

(a)Availability under the U.S. Credit Facility may be reduced by outstanding letters of credit.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

REVENUE RECOGNITION - Narrative (Details)	9 Months Ended
REVENUE RECOGNITION - Narrative (Details)	Sep. 27, 2026
Minimum
Disaggregation of Revenue [Line Items]
Payments due period (in days)	14 days
Maximum
Disaggregation of Revenue [Line Items]
Payments due period (in days)	30 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 27, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

FAIR VALUE MEASUREMENT

9 Months Ended

Sep. 27, 2026

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Assets and liabilities measured at fair value must be categorized into one of three different levels depending on the assumptions (i.e., inputs) used in the valuation:


Level 1						Unadjusted quoted prices available in active markets for identical assets or liabilities at the measurement date;

Level 2						Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or

Level 3						Unobservable inputs, such as discounted cash flow models or valuations.

The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement in its entirety.

As of September 27, 2026 and December 28, 2025, the Company held fixed income securities, derivative assets and derivative liabilities that were required to be measured at fair value on a recurring basis. Fixed income securities consist of investments, such as money market funds and commercial paper. Derivative assets and liabilities consist of long and short positions on exchange-traded commodity futures instruments, commodity options instruments, sales contracts instruments, foreign currency instruments to manage translation and remeasurement risk.

The following items were measured at fair value on a recurring basis:


	September 27, 2026						December 28, 2025
	Level 1		Level 2		Total		Level 1		Level 2		Total
	(In thousands)
Assets:
Fixed income securities	$	160,568	$	—	$	160,568	$	520,899	$	—	$	520,899
Commodity derivative assets	17,323		—		17,323		9,509		—		9,509
Foreign currency derivative assets	1,660		—		1,660		95		—		95

Liabilities:					—
Commodity derivative liabilities	(8,249)		—		(8,249)		(1,343)		—		(1,343)
Foreign currency derivative liabilities	(138)		—		(138)		(205)		—		(205)
Sales contract derivative liabilities	—		(4,826)		(4,826)		—		(2,638)		(2,638)

See “Note 3. Derivative Financial Instruments” for additional information.

The valuation of financial assets and liabilities classified in Level 1 is based upon unadjusted quoted prices for identical assets or liabilities in active markets. The valuation of financial assets and liabilities in Level 2 is determined using a market approach based upon quoted prices for similar assets and liabilities in active markets or other inputs that are observable for substantially the full term of the financial instrument. The valuation of financial assets in Level 3 is determined using an income approach based on unobservable inputs such as discounted cash flow models or valuations. For each class of assets and liabilities not measured at fair value in the Condensed Consolidated Balance Sheets but for which fair value is disclosed, the Company is not required to provide the quantitative disclosure about significant unobservable inputs used in fair value measurements categorized within Level 3 of the fair value hierarchy.

In addition to the fair value disclosure requirements related to financial instruments carried at fair value, accounting standards require interim disclosures regarding the fair value of all of the Company’s financial instruments. The methods and significant assumptions used to estimate the fair value of financial instruments and any changes in methods or significant assumptions from prior periods are also required to be disclosed.

The carrying amounts and estimated fair values of our debt obligations recorded in the Condensed Consolidated Balance Sheets consisted of the following:


	September 27, 2026				December 28, 2025
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Fixed-rate senior notes payable at 3.50%, at Level 2 inputs	$	(889,592)	$	(780,724)	$	(899,600)	$	(831,572)
Fixed-rate senior notes payable at 4.25%, at Level 2 inputs	(792,541)		(739,193)		(791,946)		(775,458)
Fixed-rate senior notes payable at 6.25%, at Level 2 inputs	(669,456)		(671,996)		(917,852)		(988,878)
Fixed-rate senior notes payable at 6.875%, at Level 2 inputs	(492,942)		(516,240)		(492,251)		(555,740)
Fixed-rate senior notes payable at 4.75%, at Level 2 inputs	(568,788)		(559,976)		—		—
Live Oak CHP Project PACE Loan at 5.15%, at Level 3 inputs	(20,276)		(17,127)		(19,163)		(18,376)

See “Note 11. Debt” for additional information.

The carrying amounts of our cash and cash equivalents, restricted cash and restricted cash equivalents, accounts receivable, accounts payable and certain other liabilities approximate their fair values due to their relatively short maturities. Derivative assets were recorded at fair value based on quoted market prices and are included in the line item Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. Derivative liabilities were recorded at fair value based on quoted market prices and are included in the line item Accrued expenses and other current liabilities on the Condensed

Consolidated Balance Sheets. The fair values of the Company’s Level 2 fixed-rate debt obligations were based on the quoted market price at September 27, 2026 or December 28, 2025, as applicable.

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records certain assets and liabilities at fair value on a nonrecurring basis. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges when required by U.S. GAAP. There were no significant fair value measurement losses recognized for such assets and liabilities in the periods reported.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

DEBT - Schedule of Key Terms of Our Available Credit Facilities (Details) - 9 months ended Sep. 27, 2026 - Line of Credit £ in Thousands, $ in Thousands, $ in Thousands	USD ($)	GBP (£)	MXN ($)
Line of Credit
Debt Instrument [Line Items]
Availability (USD)	$ 1,201,800
2021 US Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Limit	850,000
Availability (USD)	$ 846,200
2021 US Credit Facility \| Line of Credit \| SOFR
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.35%
Europe Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Limit \| £		£ 150,000
Availability (USD)	$ 198,700
Europe Credit Facility \| Line of Credit \| SONIA Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.00%
Mexico BBVA Credit Facility \| TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.35%
Mexico BBVA Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Limit			$ 1,300,000
Availability (USD)	$ 72,100
Mexico BBVA Credit Facility \| Line of Credit \| TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.35%
Mexico Bajio Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Limit			$ 1,500,000
Availability (USD)	$ 84,800
Mexico Bajio Credit Facility \| Line of Credit \| TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.41%

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Income Tax Disclosure [Abstract]
Income tax expense	$ 43,977	$ 118,319	$ 82,919	$ 331,991
Effective tax rate (as a percent)			26.40%	25.00%
Other comprehensive income, tax effect			$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

INVENTORIES

9 Months Ended

Sep. 27, 2026

Inventory Disclosure [Abstract]

INVENTORIES

Inventories consisted of the following:


	September 27, 2026		December 28, 2025
	(In thousands)
Raw materials and work-in-process	$	1,248,107	$	1,191,188
Finished products	626,767		644,792
Operating supplies	89,904		85,164
Maintenance materials and parts	110,028		110,115
Total inventories	$	2,074,806	$	2,031,259

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 27, 2026	Dec. 28, 2025
Property, Plant, and Equipment [Line Items]
Finance lease assets	$ 4,233	$ 4,990
PP&E, gross	8,283,551	7,893,803
Accumulated depreciation	(4,431,608)	(4,360,776)
PP&E, net	3,851,943	3,533,027
Land
Property, Plant, and Equipment [Line Items]
Property, plant and equipment	221,977	220,462
Buildings
Property, Plant, and Equipment [Line Items]
Property, plant and equipment	2,534,259	2,445,820
Machinery and equipment
Property, Plant, and Equipment [Line Items]
Property, plant and equipment	4,727,673	4,417,923
Autos and trucks
Property, Plant, and Equipment [Line Items]
Property, plant and equipment	139,548	137,293
Construction-in-progress
Property, Plant, and Equipment [Line Items]
Property, plant and equipment	$ 655,861	$ 667,315

REVENUE RECOGNITION - Schedule of Changes in Revenue Contract Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 27, 2026 USD ($)
Movement in Contract with Customer, Liability [Roll Forward]
Balance as of start of period	$ 37,622
Revenue recognized	(19,410)
Cash received, excluding amounts recognized as revenue during the period	10,319
Currency translation	78
Balance as of end of period	$ 28,609

Cover	9 Months Ended
Cover	Sep. 27, 2026 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 27, 2026
Document Transition Report	false
Entity File Number	1-9273
Entity Registrant Name	PILGRIM’S PRIDE CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-1285071
Entity Address, Address Line One	1770 Promontory Circle
Entity Address, City or Town	Greeley
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80634-9038
City Area Code	970
Local Phone Number	506-8000
Title of 12(b) Security	Common Stock, Par Value $0.01
Trading Symbol	PPC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	238,112,010
Amendment Flag	false
Entity Central Index Key	0000802481
Current Fiscal Year End Date	--12-27
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2026

INVENTORIES (Tables)

9 Months Ended

Sep. 27, 2026

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following:


	September 27, 2026		December 28, 2025
	(In thousands)
Raw materials and work-in-process	$	1,248,107	$	1,191,188
Finished products	626,767		644,792
Operating supplies	89,904		85,164
Maintenance materials and parts	110,028		110,115
Total inventories	$	2,074,806	$	2,031,259

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Financial Statements	Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments unless otherwise disclosed) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 27, 2026 are not necessarily indicative of the results that may be expected for the year ending December 27, 2026. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 28, 2025. The Company operates on the basis of a 52/53 week fiscal year ending on the Sunday falling on or before December 31. Any reference we make to a particular year (for example, 2026) in the notes to these Condensed Consolidated Financial Statements applies to our fiscal year and not the calendar year. The nine months ended September 27, 2026 represents the period from December 29, 2025 through September 27, 2026. The nine months ended September 28, 2025 represents the period from December 30, 2024 through September 28, 2025. The Condensed Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries. We eliminate all significant affiliate accounts and transactions upon consolidation. The Condensed Consolidated Financial Statements have been prepared in conformity with U.S. GAAP using management’s best estimates and judgments. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these estimates and judgments. Significant estimates made by the Company include the allowance for credit losses, reserves related to inventory obsolescence or valuation, useful lives of long-lived assets, goodwill, identifiable intangible assets, valuation of deferred tax assets, insurance accruals, valuation of pension and other postretirement benefits obligations, income tax accruals, certain derivative positions, and valuations of acquired businesses.
Foreign Currency Transactions and Translations	The functional currency of the Company’s U.S. operations and certain holding-company subsidiaries in Luxembourg, the U.K., Malta and the Republic of Ireland is the U.S. dollar. The functional currency of its U.K. operations is the British pound. The functional currency of the Company’s operations in France, the Netherlands and the Republic of Ireland is the euro.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted as of September 27, 2026 In November 2024, the FASB issued ASU 2024-03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40), which requires additional disclosures for certain costs and expenses to help investors better understand major components of an entity’s income statement. The guidance requires additional disclosures for costs and expenses such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The provisions of the new guidance will be effective for annual reporting years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company plans to adopt this guidance as it becomes effective and is assessing the impacts on our Consolidated Financial Statements.
Revenue Recognition	Contract Costs The Company can incur incremental costs to obtain or fulfill a contract such as broker expenses that are not expected to be recovered. The amortization period for such expenses is less than one year; therefore, the costs are expensed as incurred. Taxes The Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer (for example, sales, use, value added and some excise taxes) from the transaction price. Contract Balances The Company receives payment from customers based on terms established with the customer. Payments are typically due within 14 to 30 days of delivery. Revenue contract liabilities relate to payments received in advance of satisfying the performance under the customer contract. The revenue contract liabilities relate to customer prepayments and the advanced consideration, such as cash, received from governmental agency contracts for which performance obligations to the end customer have not been satisfied.
Accounts Receivable	Accounts Receivable The Company records accounts receivable when revenue is recognized. We record an allowance for credit losses, reducing our receivables balance to an amount we estimate is collectible from our customers. Estimates used in determining the allowance for credit losses are based on historical collection experience, current trends, aging of accounts receivable and periodic credit evaluations of our customers’ financial condition. We write off accounts receivable when it becomes apparent, based upon age or customer circumstances, that such amounts will not be collected. Generally, the Company does not require collateral for its accounts receivable.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill by Segment (Details) $ in Thousands	9 Months Ended
	Sep. 27, 2026 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 1,338,884
Currency Translation	(22,073)
Goodwill, end of period	1,316,811
U.S.
Goodwill [Roll Forward]
Goodwill, beginning of period	41,936
Currency Translation	0
Goodwill, end of period	41,936
Europe
Goodwill [Roll Forward]
Goodwill, beginning of period	1,183,920
Currency Translation	(23,454)
Goodwill, end of period	1,160,466
Mexico
Goodwill [Roll Forward]
Goodwill, beginning of period	113,028
Currency Translation	1,381
Goodwill, end of period	$ 114,409

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

+ Details

REPORTABLE SEGMENTS - Narrative (Details)	9 Months Ended
REPORTABLE SEGMENTS - Narrative (Details)	Sep. 27, 2026 segment
Segment Reporting [Abstract]
Number of reportable business segments	3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Outstanding Derivative Instruments and Cash Collateral (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 27, 2026	Dec. 28, 2025
Fair values:
Manage cash payable	$ 0	$ (3,886)
Corn
Derivatives coverage:
Derivatives coverage (as a percent)	12.50%	11.60%
Soybean meal
Derivatives coverage:
Derivatives coverage (as a percent)	13.00%	13.80%
Commodity derivative
Fair values:
Derivative assets	$ 17,323	$ 9,509
Derivative liabilities	(8,249)	(1,343)
Foreign currency derivatives
Fair values:
Derivative assets	1,660	95
Derivative liabilities	(138)	(205)
Sales contract derivatives
Fair values:
Derivative liabilities	(4,826)	(2,638)
Cash collateral posted with brokers	$ 1,186	$ 0

DEBT - Narrative (Details) $ in Thousands, € in Millions, £ in Millions	3 Months Ended	9 Months Ended
	Sep. 27, 2026 USD ($)	Sep. 27, 2026 USD ($)	Sep. 23, 2026 USD ($)	Sep. 23, 2026 EUR (€)	Jun. 26, 2026 GBP (£)	Dec. 28, 2025 USD ($)
Line of Credit \| Line of Credit
Debt Instrument [Line Items]
Availability (USD)	$ 1,201,800	$ 1,201,800
Live Oak CHP Project PACE Loan at 5.15%, at Level 3 inputs
Debt Instrument [Line Items]
Future minimum principal payments		300
Long-term debt	$ 20,276	$ 20,276				$ 19,163
Live Oak CHP Project PACE Loan at 5.15%, at Level 3 inputs \| Line of Credit
Debt Instrument [Line Items]
Stated interest rate	5.15%	5.15%
Live Oak CHP Project PACE Loan at 5.15%, at Level 3 inputs \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.15%	5.15%				5.15%
Bond Repurchase Senior Notes due 2032 \| Senior Notes
Debt Instrument [Line Items]
Repurchase amount	$ 250,000	$ 250,000
Long-term debt	10,000	10,000
Gross realized loss	12,900
Euro Senior notes payable, net of discount, at 4.75% \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 568,788	$ 568,788				$ 0
Aggregate principal amount \| €				€ 500.0
Stated interest rate			4.75%	4.75%
Debt discount			$ 700
Europe Senior Notes 4.75% Due 2034 \| Senior Notes
Debt Instrument [Line Items]
Issue price, percentage			99.866%	99.866%
Europe Credit Facility (defined below) with notes payable at SONIA plus 1.00% \| Line of Credit \| Line of Credit
Debt Instrument [Line Items]
Availability (USD) \| £					£ 150.0

STOCKHOLDERS' EQUITY - Schedule of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	$ 3,763,398	$ 3,752,536	$ 3,693,731	$ 4,253,396
Total other comprehensive income (loss), net of tax	2,393	(45,166)	(53,821)	282,934
Balance, end of period	3,887,880	3,555,677	3,887,880	3,555,677
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	(103,236)	(42,200)	(47,022)	(370,300)
Other comprehensive income (loss) before reclassifications			(53,904)	281,856
Amounts reclassified from accumulated other comprehensive loss (income) to net income			79	884
Currency translation			4	194
Total other comprehensive income (loss), net of tax	2,393	(45,166)	(53,821)	282,934
Balance, end of period	(100,843)	(87,366)	(100,843)	(87,366)
Losses Related to Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period			(13,218)	(337,243)
Other comprehensive income (loss) before reclassifications			(54,258)	284,515
Amounts reclassified from accumulated other comprehensive loss (income) to net income			0	0
Currency translation			0	0
Total other comprehensive income (loss), net of tax			(54,258)	284,515
Balance, end of period	(67,476)	(52,728)	(67,476)	(52,728)
Losses on Derivative Financial Instruments Classified as Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period			(1,475)	(2,007)
Other comprehensive income (loss) before reclassifications			178	(846)
Amounts reclassified from accumulated other comprehensive loss (income) to net income			122	2,016
Currency translation			4	42
Total other comprehensive income (loss), net of tax			304	1,212
Balance, end of period	(1,171)	(795)	(1,171)	(795)
Losses Related to Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period			(32,312)	(31,028)
Other comprehensive income (loss) before reclassifications			215	(1,754)
Amounts reclassified from accumulated other comprehensive loss (income) to net income			(82)	(1,215)
Currency translation			0	152
Total other comprehensive income (loss), net of tax			133	(2,817)
Balance, end of period	(32,179)	(33,845)	(32,179)	(33,845)
Losses on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period			(17)	(22)
Other comprehensive income (loss) before reclassifications			(39)	(59)
Amounts reclassified from accumulated other comprehensive loss (income) to net income			39	83
Currency translation			0	0
Total other comprehensive income (loss), net of tax			0	24
Balance, end of period	$ (17)	$ 2	$ (17)	$ 2

REVENUE RECOGNITION (Tables)

9 Months Ended

Sep. 27, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregated Revenue

Disaggregated Revenue

Revenue has been disaggregated into the categories below to show how economic factors affect the nature, amount, timing and uncertainty of revenue and cash flows:


	Three Months Ended September 27, 2026
	(In thousands)
	Fresh		Prepared		Export		Other (a)		Total
U.S.	$	2,044,077	$	372,939	$	130,517	$	132,601	$	2,680,134
Europe	454,222		761,824		139,188		18,779		1,374,013
Mexico	499,513		62,145		—		37,401		599,059
Total net sales	$	2,997,812	$	1,196,908	$	269,705	$	188,781	$	4,653,206


	Three Months Ended September 28, 2025
	(In thousands)
	Fresh		Prepared		Export		Other (a)		Total
U.S.	$	2,285,301	$	351,242	$	119,827	$	80,243	$	2,836,613
Europe	441,162		796,788		154,545		—		1,392,495
Mexico	439,265		60,887		—		30,082		530,234
Total net sales	$	3,165,728	$	1,208,917	$	274,372	$	110,325	$	4,759,342


	Nine Months Ended September 27, 2026
	(In thousands)
	Fresh		Prepared		Export		Other (a)		Total
U.S.	$	6,218,011	$	1,069,440	$	347,238	$	330,085	$	7,964,774
Europe	1,356,838		2,276,326		447,718		34,522		4,115,404
Mexico	1,430,314		198,912		—		102,665		1,731,891
Total net sales	$	9,005,163	$	3,544,678	$	794,956	$	467,272	$	13,812,069


	Nine Months Ended September 28, 2025
	(In thousands)
	Fresh		Prepared		Export		Other (a)		Total
U.S.	$	6,829,130	$	983,630	$	328,630	$	258,797	$	8,400,187
Europe	1,178,340		2,350,310		424,693		41,951		3,995,294
Mexico	1,332,735		167,216		—		84,284		1,584,235
Total net sales	$	9,340,205	$	3,501,156	$	753,323	$	385,032	$	13,979,716

(a)Included in Other sales shown above are sales of commodity grains and protein byproducts

Additional disaggregation of revenue by sales channel is provided below:


	Three Months Ended September 27, 2026
	(In thousands)
	Retail		Foodservice		Export		Other		Total
U.S.	$	1,494,425	$	909,515	$	130,517	$	145,677	$	2,680,134
Europe	818,569		240,178		139,188		176,078		1,374,013
Mexico(a)	165,219		269,447		—		164,393		599,059
Total net sales	$	2,478,213	$	1,419,140	$	269,705	$	486,148	$	4,653,206


	Three Months Ended September 28, 2025
	(In thousands)
	Retail		Foodservice		Export		Other		Total
U.S.	$	1,565,285	$	1,051,877	$	119,827	$	99,624	$	2,836,613
Europe	851,509		242,759		154,545		143,682		1,392,495
Mexico(a)	147,572		232,642		—		150,020		530,234
Total net sales	$	2,564,366	$	1,527,278	$	274,372	$	393,326	$	4,759,342


	Nine Months Ended September 27, 2026
	(In thousands)
	Retail		Foodservice		Export		Other		Total
U.S.	$	4,505,685	$	2,728,543	$	347,238	$	383,308	$	7,964,774
Europe	2,488,330		738,772		447,718		440,584		4,115,404
Mexico(a)	483,483		765,983		—		482,425		1,731,891
Total net sales	$	7,477,498	$	4,233,298	$	794,956	$	1,306,317	$	13,812,069


	Nine Months Ended September 28, 2025
	(In thousands)
	Retail		Foodservice		Export		Other		Total
U.S.	$	4,638,890	$	3,135,145	$	328,630	$	297,522	$	8,400,187
Europe	2,473,737		700,026		424,693		396,838		3,995,294
Mexico(a)	413,559		716,996		—		453,680		1,584,235
Total net sales	$	7,526,186	$	4,552,167	$	753,323	$	1,148,040	$	13,979,716

(a)Included in Mexico’s foodservice channel are sales to wholesale public meat markets that typically sell product on to foodservice customers. Included in Mexico’s other channel are sales to live chicken markets.

Schedule of Changes in Revenue Contract Liabilities

Changes in the revenue contract liabilities balance are as follows (in thousands):


Balance as of December 28, 2025	$	37,622
Revenue recognized	(19,410)
Cash received, excluding amounts recognized as revenue during the period	10,319
Currency translation	78
Balance as of September 27, 2026	$	28,609

RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Sep. 27, 2026

Schedule of Related Party Transactions

Pilgrim’s has been and, in some cases, continues to be a party to certain transactions with affiliated companies.


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Sales to related parties
JBS Toledo N.V.	$	10,204	$	8,931	$	33,626	$	29,576
JBS USA Food Company(a)	10,089		8,146		30,621		17,927
Other related parties	3,557		4,622		9,286		6,362
Total	$	23,850	$	21,699	$	73,533	$	53,865


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Cost of goods purchased from related parties
JBS USA Food Company(a)	$	41,640	$	35,248	$	119,528	$	108,764
Seara Meats B.V.	10,491		32,924		39,684		70,256
Penasul UK LTD	9,887		11,380		26,182		31,455
JBS Toledo N.V.	2,935		—		7,757		—
JBS Asia Co Limited	2,392		713		11,973		4,648
Other related parties	1,943		764		6,073		1,799
Total	$	69,288	$	81,029	$	211,197	$	216,922


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Expenditures paid by related parties
JBS USA Food Company(b)	$	44,635	$	26,699	$	108,538	$	212,080
Total	$	44,635	$	26,699	$	108,538	$	212,080


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Expenditures paid on behalf of related parties
JBS USA Food Company(b)	$	3,296	$	3,249	$	11,832	$	10,066
Total	$	3,296	$	3,249	$	11,832	$	10,066


	September 27, 2026		December 28, 2025
	(In thousands)
Accounts receivable from related parties
JBS Toledo N.V.	$	15,057	$	10,486
JBS USA Food Company(a)(b)	2,540		1,629
JBS Chile Ltda.	409		—
Other related parties	1,742		1,283
Total	$	19,748	$	13,398


	September 27, 2026		December 28, 2025
	(In thousands)
Accounts payable to related parties
JBS USA Food Company(a)	$	31,245	$	8,346
Seara Meats B.V.	7,845		26,686
JBS Asia Co Limited	5,159		—
Penasul UK LTD	2,963		1,156

Other related parties	1,999		7,328
Total	$	49,211	$	43,516

(a)The Company routinely executes transactions to both purchase products from JBS USA and sell products to them. As of September 27, 2026, goods purchased and in transit from JBS USA were immaterial and not reflected on our Condensed Consolidated Balance Sheets.

(b)The Company has an agreement with JBS USA to allocate costs associated with JBS USA’s procurement of SAP licenses and maintenance services for both companies. Under this agreement, the fees associated with procuring SAP licenses and maintenance services are allocated between the Company and JBS USA in proportion to the percentage of licenses used by each company. The agreement expires on the date of expiration, or earlier termination, of the underlying SAP license agreement. The Company also has an agreement with JBS USA to allocate the costs of supporting the business operations by one consolidated corporate team, which have historically been supported by their respective corporate teams. Expenditures paid by JBS USA on behalf of the Company will be reimbursed by the Company and expenditures paid by the Company on behalf of JBS USA will be reimbursed by JBS USA. The current agreement expires on the earlier of either termination by either party or until the occurrence of any mechanism where JBS USA becomes 100% owner of PPC. The Company also has the Tax Sharing Agreement with JBS USA that governs the allocation, payment, and reimbursement obligations of U.S. income tax liabilities and assets among the Company and its relevant U.S. corporate subsidiaries.

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025	Dec. 28, 2025
Property, Plant, and Equipment [Abstract]
Depreciation expense	$ 114,700	$ 108,000	$ 340,200	$ 309,600
Expenditures on capital projects			691,700	437,300
Property, plant and equipment transfers and changes			(643,200)	(259,300)
Capital expenditures in accounts payable and accrued expenses			48,700		$ 40,200
Proceeds from property disposals	1,300	1,200	11,718	4,143
Loss on property disposals	2,600	$ 900	5,209	$ 2,855
Idled assets property, plant and equipment, net	15,900		15,900
Idled asset property, plant and equipment gross	82,600		82,600
Idled assets, accumulated depreciation	$ 66,700		66,700
Impairment losses on closure of plant			$ 22,300

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	3 Months Ended	20 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Sep. 27, 2026 USD ($)	Sep. 27, 2026 USD ($)
Income Tax Jurisdiction, Foreign \| Mexican Tax Authority
Loss Contingencies [Line Items]
Estimate of possible loss	$ 269.5	$ 269.5
Amount accrued for potential losses	88.2	88.2
Broiler Chicken Antitrust Litigation \| Settled Litigation
Loss Contingencies [Line Items]
Settlement expense	$ 155.5	$ 838.7

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
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-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

- Definition

Reflects the estimated amount of loss from the specified contingency as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.Z.5.Q2)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Section S45
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482425/460-10-50-2

+ Details

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 27, 2026

Intangible Asset, Goodwill and Other [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The activity in goodwill by segment for the nine months ended September 27, 2026 was as follows:


	December 28, 2025		Currency Translation		September 27, 2026
	(In thousands)
U.S.	$	41,936	$	—	$	41,936
Europe	1,183,920		(23,454)		1,160,466
Mexico	113,028		1,381		114,409
Total	$	1,338,884	$	(22,073)	$	1,316,811

Intangible assets consisted of the following:


	December 28, 2025		Additions		Amortization		Currency Translation		September 27, 2026
	(In thousands)
Cost:
Trade names not subject to amortization	$	613,536	$	—	$	—	$	(11,694)	$	601,842
Trade names subject to amortization	114,762		—		—		(753)		114,009
Customer relationships	456,415		1,122		—		(5,656)		451,881
Accumulated amortization:
Trade names	(66,052)		—		(1,007)		(1,765)		(68,824)
Customer relationships	(286,595)		—		(7,546)		(11,575)		(305,716)
Intangible assets, net	$	832,066	$	1,122	$	(8,553)	$	(31,443)	$	793,192

On January 13, 2026, the Company acquired 100% of the equity of Hermitage AI Ltd. from Hermitage Group for £2.3 million, or about $3.1 million. The acquisition was funded with cash on hand. Transaction costs were immaterial and expensed as incurred. The fair value of the net assets acquired was £1.4 million. During the three months ended September 27, 2026, the Company identified customer relationship intangible assets that had previously been included in goodwill as part of the preliminary purchase price allocation for the acquisition completed in January 2026. Accordingly, $1.1 million was reclassified from goodwill to customer relationship intangible assets and is reflected in additions in the table above.

Intangible assets are amortized over the estimated useful lives of the assets as follows:


Customer relationships			3-18 years
Trade names subject to amortization			15-20 years

At September 27, 2026, the Company assessed if events or changes in circumstances indicated that any asset group-level carrying amounts of its intangible assets might not be recoverable. The Company will perform its annual tests of recoverability of all goodwill and trade names not subject to amortization in the fourth quarter of 2026, which if there were to be an impairment, could be material.

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025	Dec. 28, 2025
Related Party Transaction [Line Items]
Expenditures paid by related parties	$ 44,635	$ 26,699	$ 108,538	$ 212,080
Expenditures paid on behalf of related parties	3,296	3,249	11,832	10,066
Total
Related Party Transaction [Line Items]
Sales to related parties	23,850	21,699	73,533	53,865
Cost of goods purchased from related parties	69,288	81,029	211,197	216,922
Accounts receivable from related parties	19,748		19,748		$ 13,398
Accounts payable to related parties	49,211		49,211		43,516
JBS Toledo N.V.
Related Party Transaction [Line Items]
Sales to related parties	10,204	8,931	33,626	29,576
Cost of goods purchased from related parties	2,935	0	7,757	0
Accounts receivable from related parties	15,057		15,057		10,486
JBS USA Food Company
Related Party Transaction [Line Items]
Sales to related parties	10,089	8,146	30,621	17,927
Cost of goods purchased from related parties	41,640	35,248	119,528	108,764
Expenditures paid by related parties	44,635	26,699	108,538	212,080
Expenditures paid on behalf of related parties	3,296	3,249	11,832	10,066
Accounts receivable from related parties	2,540		2,540		1,629
Accounts payable to related parties	31,245		31,245		8,346
Other related parties
Related Party Transaction [Line Items]
Sales to related parties	3,557	4,622	9,286	6,362
Cost of goods purchased from related parties	1,943	764	6,073	1,799
Accounts receivable from related parties	1,742		1,742		1,283
Accounts payable to related parties	1,999		1,999		7,328
Seara Meats B.V.
Related Party Transaction [Line Items]
Cost of goods purchased from related parties	10,491	32,924	39,684	70,256
Accounts payable to related parties	7,845		7,845		26,686
Penasul UK LTD
Related Party Transaction [Line Items]
Cost of goods purchased from related parties	9,887	11,380	26,182	31,455
Accounts payable to related parties	2,963		2,963		1,156
JBS Asia Co Limited
Related Party Transaction [Line Items]
Cost of goods purchased from related parties	2,392	$ 713	11,973	$ 4,648
Accounts payable to related parties	5,159		5,159		0
JBS Chile Ltda.
Related Party Transaction [Line Items]
Accounts receivable from related parties	$ 409		$ 409		$ 0

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

9 Months Ended

Sep. 27, 2026

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit Costs

Net defined benefit pension and other postretirement costs included the following components:


	Three Months Ended								Nine Months Ended
	September 27, 2026				September 28, 2025				September 27, 2026				September 28, 2025
	Pension Benefits		Other Benefits		Pension Benefits		Other Benefits		Pension Benefits		Other Benefits		Pension Benefits		Other Benefits
	(In thousands)								(In thousands)
Interest cost	$	1,571	$	12	$	1,607	$	13	$	4,736	$	31	$	4,675	$	35
Estimated return on plan assets	(1,930)		—		(2,075)		—		(5,770)		—		(5,980)		—
Settlement gains	—		—		—		—		—		—		(1,611)		—
Expenses paid from assets	137		—		116		—		365		—		346		—
Amortization of net gain	(39)		(1)		(88)		—		(121)		(1)		(13)		(1)
Amortization of past service cost	5		—		4		—		14		—		13		—
Net costs (income)(a)	$	(256)	$	11	$	(436)	$	13	$	(776)	$	30	$	(2,570)	$	34

(a)Net costs are included in the line item Miscellaneous, net on the Condensed Consolidated Statements of Income.

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 27, 2026

Intangible Asset, Goodwill and Other [Abstract]

Schedule of Goodwill by Segment

The activity in goodwill by segment for the nine months ended September 27, 2026 was as follows:


	December 28, 2025		Currency Translation		September 27, 2026
	(In thousands)
U.S.	$	41,936	$	—	$	41,936
Europe	1,183,920		(23,454)		1,160,466
Mexico	113,028		1,381		114,409
Total	$	1,338,884	$	(22,073)	$	1,316,811

Schedule of Intangible Assets

Intangible assets consisted of the following:


	December 28, 2025		Additions		Amortization		Currency Translation		September 27, 2026
	(In thousands)
Cost:
Trade names not subject to amortization	$	613,536	$	—	$	—	$	(11,694)	$	601,842
Trade names subject to amortization	114,762		—		—		(753)		114,009
Customer relationships	456,415		1,122		—		(5,656)		451,881
Accumulated amortization:
Trade names	(66,052)		—		(1,007)		(1,765)		(68,824)
Customer relationships	(286,595)		—		(7,546)		(11,575)		(305,716)
Intangible assets, net	$	832,066	$	1,122	$	(8,553)	$	(31,443)	$	793,192

Schedule of Intangible Assets Amortization Over the Estimated Useful Lives

Intangible assets are amortized over the estimated useful lives of the assets as follows:


Customer relationships			3-18 years
Trade names subject to amortization			15-20 years

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Derivative [Line Items]
Total	$ 12,959	$ 1,733	$ 11,484	$ (17,043)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total net sales	Total net sales	Total net sales	Total net sales
Commodity derivatives
Derivative [Line Items]
Total	$ 16,824	$ 7,260	$ 12,080	$ (14,744)
Sales contract derivatives
Derivative [Line Items]
Total	(5,457)	(5,527)	(2,188)	(2,299)
Foreign currency derivatives
Derivative [Line Items]
Total	$ 1,592	$ 0	$ 1,592	$ 0

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 27, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Derivative Instruments and Cash Collateral

Information regarding the Company’s outstanding derivative instruments and cash collateral posted with brokers is included in the following table:


	September 27, 2026			December 28, 2025
	(In thousands)
Fair values:
Commodity derivative assets	$	17,323		$	9,509
Commodity derivative liabilities	(8,249)			(1,343)
Foreign currency derivative assets	1,660			95
Foreign currency derivative liabilities	(138)			(205)

Sales contract derivative liabilities	(4,826)			(2,638)
Cash collateral posted with brokers(a)	1,186			—
Margin cash payable(a)	—			(3,886)
Derivatives coverage(b):
Corn	12.5		%	11.6		%
Soybean meal	13.0		%	13.8		%
Period through which stated percent of needs are covered:
Corn	December 2027			December 2026
Soybean meal	July 2027			December 2026

(a)Collateral posted with brokers consists primarily of cash, short-term treasury bills or other cash equivalents.

(b)Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.

Schedule of Derivative Gain (Loss)

The following table presents the gains and losses of each derivative instrument held by the Company not designated or qualifying as hedging instruments:


	Three Months Ended				Nine Months Ended
Type of Contract (a)	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025		Affected Line Item in the Condensed Consolidated Statements of Income
	(In thousands)
Commodity derivatives	$	16,824	$	7,260	$	12,080	$	(14,744)	Cost of sales
Sales contract derivatives	(5,457)		(5,527)		(2,188)		(2,299)		Net sales
Foreign currency derivatives	1,592		—		1,592		—		Foreign currency transaction losses
Total	$	12,959	$	1,733	$	11,484	$	(17,043)

(a)Amounts represent income (expenses) related to results of operations.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges:


	Gains (Losses) Recognized in Other Comprehensive Income (Loss)
	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Foreign currency derivatives	$	(268)	$	(2,504)	$	178	$	(846)

Schedule of Derivatives Line Item in Condensed Consolidated Statements of Income


	Gains (Losses) Reclassified from AOCI into Income
	Three Months Ended September 27, 2026				Three Months Ended September 28, 2025
	Net sales(a)		Cost of sales(b)		Net sales(a)		Cost of sales(b)
	(In thousands)
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	$	4,653,206	$	4,319,534	$	4,759,342	$	4,099,958
Impact from cash flow hedging instruments:
Foreign currency derivatives	(243)		(65)		(734)		—

(a)Amounts represent income (expenses) related to net sales.

(b)Amounts represent expenses (income) related to cost of sales.


	Gains (Losses) Reclassified from AOCI into Income
	Nine Months Ended September 27, 2026				Nine Months Ended September 28, 2025
	Net sales(a)		Cost of sales(b)		Net sales(a)		Cost of sales(b)
	(In thousands)
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	$	13,812,069	$	12,793,155	$	13,979,716	$	12,050,164
Impact from cash flow hedging instruments:
Foreign currency derivatives	(223)		(101)		(2,047)		(31)

(a)Amounts represent income (expenses) related to net sales.

(b)Amounts represent expenses (income) related to cost of sales.

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 27, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES General The Company is a party to many routine contracts in which it provides general indemnities in the normal course of business to third parties for various risks. Among other considerations, the Company has not recorded a liability for any of these indemnities because, based upon the likelihood of payment, the fair value of such indemnities would not have a material impact on its financial condition, results of operations, or cash flows. Financial Instruments The Company’s loan agreements generally obligate the Company to reimburse the applicable lender for incremental increased costs due to a change in law that imposes (1) any reserve or special deposit requirement against assets of, deposits with or credit extended by such lender related to the loan, (2) any tax, duty or other charge with respect to the loan (except standard income tax) or (3) capital adequacy requirements. In addition, some of the Company’s loan agreements contain a withholding tax provision that requires the Company to pay additional amounts to the applicable lender or other financing party, generally if withholding taxes are imposed on such lender or other financing party as a result of a change in the applicable tax law. These increased costs and withholding tax provisions continue for the entire term of the applicable transaction and there is no limitation on the maximum additional amounts the Company could be obligated to pay under such provisions. Any failure to pay amounts due under such provisions generally would trigger an event of default and, in a secured financing transaction, would entitle the lender to foreclose upon the collateral to realize the amount due. Litigation The Company is subject to various legal proceedings and claims which arise in the ordinary course of business. In the Company’s opinion, it has made appropriate and adequate accruals for claims where necessary; however, the ultimate liability for these matters is uncertain, and if significantly different than the amounts accrued, the ultimate outcome could have a material effect on the financial condition or results of operations of the Company. The Company cannot predict the outcome of the litigation matters or other actions nor when they will be resolved. The consequences of the pending litigation matters are inherently uncertain, and settlements, adverse actions, or adverse judgments in some or all of these matters, including investigations by the U.S. Department of Justice (“DOJ”) or the Attorneys General, may result in monetary damages, fines, penalties, or injunctive relief against the Company, which could be material and could adversely affect its financial condition or results of operations. Any claims or litigation, even if fully indemnified or insured, could damage the Company’s reputation and make it more difficult to compete effectively or to obtain adequate insurance in the future. In addition, the U.S. government’s recent focus on market dynamics in the meat processing industry could expose the Company to additional costs and risks. The disclosures defined or referenced in Note 21 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 28, 2025 are hereby incorporated by reference herein, as supplemented by the following disclosures: “Broiler Antitrust Litigation” On February 11, 2025, the motions to dismiss Phase 2 of the Broiler Antitrust Litigation that had been filed by PPC and other defendants were denied. Phase 2 discovery continued. PPC will continue to defend itself against the Broiler Opt Outs. PPC will seek reasonable settlements with the Broiler Opt Outs where they are available. To date, PPC has incurred expenses of $838.7 million, including $155.5 million in the nine months ended September 27, 2026, to cover settlements with various Broiler Opt Outs. City of Miami Beach Fire and Police Pension Fund, et al. v. JBS Wisconsin Properties, LLC, et al. A settlement agreement, for an immaterial amount, was signed on August 4, 2026 between PPC, as nominal defendant, as well as PPC’s directors and majority stockholders, JBS Wisconsin Properties LLC, JBS USA Food Company Holdings, and JBS S.A. (the “JBS Defendants”) and Plaintiffs. The settlement agreement releases all claims in the lawsuit against the JBS Defendants, in exchange for a $31 million payment from the JBS Defendants to the Company, less certain fees. The Court has scheduled a hearing for November 20, 2026, to determine, among other things, whether the settlement should be approved. SAT’s tax assessments in connection with PPC’s 2015 acquisition of Tyson de México PPC appealed the Collegiate (appellate) Court’s March 19, 2025 ruling to the Collegiate Court on April 23, 2025 and the Collegiate Court ruled in PPC’s favor, remanding the matter to the Tax Court. The Tax Court issued a revised opinion on March 25, 2026 that reaffirmed the assessments against PPC. PPC has filed various pleadings challenging this new Tax Court ruling. On October 6, 2026, PPC also filed a request for arbitration under United States-Mexico-Canada Agreement (“USMCA”) with the International Centre for Settlement of Investment Disputes. PPC will continue to defend this matter. The amount under appeal for the assessment, including any penalties and interest, is approximately $269.5 million. PPC will seek a reasonable settlement with the tax authority where it is available. The Company has determined the loss is probable and as such has made an accrual of $88.2 million, which is reflected in Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheet as of September 27, 2026. Other than the matters described above, there have been no material updates or changes to the Company's legal proceedings from those disclosed in the audited consolidated financial statements as of and for the year ended December 28, 2025.

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Thousands, £ in Millions			9 Months Ended
	Jan. 13, 2026 USD ($)	Jan. 13, 2026 GBP (£)	Sep. 27, 2026 USD ($)	Dec. 28, 2025 USD ($)
Goodwill [Line Items]
Goodwill			$ 1,316,811	$ 1,338,884
Customer relationships
Goodwill [Line Items]
Goodwill reclassified to customer relationships			$ 1,100
Hermitage AI Ltd
Goodwill [Line Items]
Percentage of equity acquired		100.00%
Aggregate purchase price	$ 3,100	£ 2.3
Goodwill \| £		£ 1.4

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

REPORTABLE SEGMENTS - Schedule of Segment Reporting, Goodwill and Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025	Dec. 28, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total depreciation and amortization	$ 123,223	$ 116,426	$ 365,010	$ 334,448
Total capital expenditures	201,277	178,367	691,699	437,337
Total assets	10,936,423		10,936,423		$ 10,343,530
Total long-lived assets	4,170,306		4,170,306		3,790,811
U.S.
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total capital expenditures	153,720	121,283	555,399	303,413
Europe
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total capital expenditures	12,722	22,419	74,088	76,170
Mexico
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total capital expenditures	34,835	34,665	62,212	57,754
Operating Segments \| U.S.
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total depreciation and amortization	78,533	72,452	233,010	209,986
Total assets	7,418,159		7,418,159		7,023,156
Total long-lived assets	2,666,719		2,666,719		2,376,549
Operating Segments \| Europe
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total depreciation and amortization	37,617	38,170	111,737	108,236
Total assets	4,478,995		4,478,995		4,376,305
Total long-lived assets	1,099,752		1,099,752		1,040,986
Operating Segments \| Mexico
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total depreciation and amortization	7,073	$ 5,804	20,263	$ 16,226
Total assets	1,162,749		1,162,749		1,132,834
Total long-lived assets	407,723		407,723		377,164
Eliminations
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total assets	(2,123,480)		(2,123,480)		(2,188,765)
Total long-lived assets	$ (3,888)		$ (3,888)		$ (3,888)

RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 27, 2026

RELATED PARTY TRANSACTIONS

Pilgrim’s has been and, in some cases, continues to be a party to certain transactions with affiliated companies.


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Sales to related parties
JBS Toledo N.V.	$	10,204	$	8,931	$	33,626	$	29,576
JBS USA Food Company(a)	10,089		8,146		30,621		17,927
Other related parties	3,557		4,622		9,286		6,362
Total	$	23,850	$	21,699	$	73,533	$	53,865


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Cost of goods purchased from related parties
JBS USA Food Company(a)	$	41,640	$	35,248	$	119,528	$	108,764
Seara Meats B.V.	10,491		32,924		39,684		70,256
Penasul UK LTD	9,887		11,380		26,182		31,455
JBS Toledo N.V.	2,935		—		7,757		—
JBS Asia Co Limited	2,392		713		11,973		4,648
Other related parties	1,943		764		6,073		1,799
Total	$	69,288	$	81,029	$	211,197	$	216,922


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Expenditures paid by related parties
JBS USA Food Company(b)	$	44,635	$	26,699	$	108,538	$	212,080
Total	$	44,635	$	26,699	$	108,538	$	212,080


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Expenditures paid on behalf of related parties
JBS USA Food Company(b)	$	3,296	$	3,249	$	11,832	$	10,066
Total	$	3,296	$	3,249	$	11,832	$	10,066


	September 27, 2026		December 28, 2025
	(In thousands)
Accounts receivable from related parties
JBS Toledo N.V.	$	15,057	$	10,486
JBS USA Food Company(a)(b)	2,540		1,629
JBS Chile Ltda.	409		—
Other related parties	1,742		1,283
Total	$	19,748	$	13,398


	September 27, 2026		December 28, 2025
	(In thousands)
Accounts payable to related parties
JBS USA Food Company(a)	$	31,245	$	8,346
Seara Meats B.V.	7,845		26,686
JBS Asia Co Limited	5,159		—
Penasul UK LTD	2,963		1,156

Other related parties	1,999		7,328
Total	$	49,211	$	43,516

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

+ Details

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 27, 2026	Dec. 28, 2025
Inventory Disclosure [Abstract]
Raw materials and work-in-process	$ 1,248,107	$ 1,191,188
Finished products	626,767	644,792
Operating supplies	89,904	85,164
Maintenance materials and parts	110,028	110,115
Total inventories	$ 2,074,806	$ 2,031,259

CURRENT LIABILITIES

9 Months Ended

Sep. 27, 2026

Payables and Accruals [Abstract]

CURRENT LIABILITIES

Current liabilities, other than income taxes and current maturities of long-term debt, consisted of the following components:


	September 27, 2026		December 28, 2025
	(In thousands)
Accounts payable:
Trade accounts payable	$	1,531,970	$	1,400,186
Book overdrafts	98,858		160,068
Other payables	22,060		28,315
Total accounts payable	1,652,888		1,588,569
Accounts payable to related parties(a)	49,211		43,516
Revenue contract liabilities(b)	28,609		37,622
Accrued expenses and other current liabilities:
Compensation and benefits	281,071		367,035
Accrued sales rebates	132,828		135,108
Taxes	126,106		60,577
Litigation settlements(c)	92,156		152,940
Insurance and self-insured claims	87,322		104,009
Current maturities of operating lease liabilities	64,612		59,630
Interest and debt-related fees	60,285		64,947
Derivative liabilities(d)	13,213		8,072
Other accrued expenses	190,052		143,540
Total accrued expenses and other current liabilities	1,047,645		1,095,858
Total	$	2,778,353	$	2,765,565

(a)Additional information regarding accounts payable to related parties is included in “Note 15. Related Party Transactions.”

(b)Additional information regarding revenue contract liabilities is included in “Note 2. Revenue Recognition.”

(c)Additional information regarding litigation settlements is included in “Note 17. Commitments and Contingencies.” These amounts may include accruals for both negotiated settlements and reasonable estimates for probable losses.

(d)Additional information regarding derivative liabilities is included in “Note 3. Derivative Financial Instruments.”

PENSION AND OTHER POSTRETIREMENT BENEFITS

9 Months Ended

Sep. 27, 2026

Retirement Benefits [Abstract]

PENSION AND OTHER POSTRETIREMENT BENEFITS

The Company sponsors programs that provide retirement benefits to most of its employees. These programs include qualified defined benefit pension plans in the U.K., such as the Tulip Limited Pension Plan and the Geo Adams Group Pension Fund, nonqualified defined benefit retirement plans, a defined benefit postretirement life insurance plan and defined contribution retirement savings plan. Expenses recognized under all retirement plans totaled $7.7 million and $8.6 million in the three months ended September 27, 2026 and September 28, 2025, respectively, and $25.6 million and $24.7 million in the nine months ended September 27, 2026 and September 28, 2025, respectively.

The Company used a quarter-end measurement date of September 27, 2026 for its pension and postretirement benefits plans. Certain disclosures are listed below. Other disclosures are not material to the financial statements.

Net Periodic Benefit Costs

Net defined benefit pension and other postretirement costs included the following components:


	Three Months Ended								Nine Months Ended
	September 27, 2026				September 28, 2025				September 27, 2026				September 28, 2025
	Pension Benefits		Other Benefits		Pension Benefits		Other Benefits		Pension Benefits		Other Benefits		Pension Benefits		Other Benefits
	(In thousands)								(In thousands)
Interest cost	$	1,571	$	12	$	1,607	$	13	$	4,736	$	31	$	4,675	$	35
Estimated return on plan assets	(1,930)		—		(2,075)		—		(5,770)		—		(5,980)		—
Settlement gains	—		—		—		—		—		—		(1,611)		—
Expenses paid from assets	137		—		116		—		365		—		346		—
Amortization of net gain	(39)		(1)		(88)		—		(121)		(1)		(13)		(1)
Amortization of past service cost	5		—		4		—		14		—		13		—
Net costs (income)(a)	$	(256)	$	11	$	(436)	$	13	$	(776)	$	30	$	(2,570)	$	34

(a)Net costs are included in the line item Miscellaneous, net on the Condensed Consolidated Statements of Income.

During the nine months ended September 27, 2026, the Company contributed $3.3 million to our pension programs. We anticipate making additional contributions of approximately $0.1 million during the remainder of 2026. The Company contributed $3.3 million to our pension programs during the nine months ended September 28, 2025.

Remeasurement

The Company remeasures both plan assets and obligations on a quarterly basis.

Defined Contribution Plans

The Company sponsors two defined contribution retirement savings plans in the U.S. reportable segment for eligible U.S. and Puerto Rico employees. The Company maintains three postretirement plans for eligible employees in the Mexico reportable segment, as required by Mexico law, which primarily cover termination benefits. The Company maintains seven defined contribution retirement savings plans in the Europe reportable segment for eligible U.K. and Europe employees, as required by U.K. and Europe law. The Company’s expenses related to its defined contribution plans totaled $7.5 million and $8.0 million in the three months ended September 27, 2026 and September 28, 2025, respectively, and $25.6 million and $25.1 million in the nine months ended September 27, 2026 and September 28, 2025, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 116,317	$ 343,061	$ 230,987	$ 995,413
Foreign currency translation adjustment:
Gains (losses) arising during the period	1,419	(41,412)	(54,258)	284,515
Derivative financial instruments designated as cash flow hedges:
Gains (losses) arising during the period	(266)	(2,548)	182	(804)
Reclassification to net earnings for losses realized	178	734	122	2,016
Available-for-sale securities:
Losses arising during the period	(17)	(7)	(51)	(94)
Income tax effect	4	12	12	35
Reclassification to net earnings for losses realized	0	8	51	110
Income tax effect	0	(2)	(12)	(27)
Defined benefit plans:
Gains (losses) arising during the period	1,473	(2,506)	255	(1,995)
Income tax effect	(372)	618	(40)	393
Reclassification to net earnings of gains realized	(34)	(83)	(107)	(1,610)
Income tax effect	8	20	25	395
Total other comprehensive income (loss), net of tax	2,393	(45,166)	(53,821)	282,934
Comprehensive income	118,710	297,895	177,166	1,278,347
Less: Comprehensive income (loss) attributable to noncontrolling interests	(1,289)	248	(1,419)	1,047
Comprehensive income attributable to Pilgrim’s Pride Corporation	$ 119,999	$ 297,647	$ 178,585	$ 1,277,300

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 27, 2026	Dec. 28, 2025
Statement [Line Items]
Cash and cash equivalents	$ 935,771	$ 640,235
Restricted cash and cash equivalents	1,186	0
Inventories	2,074,806	2,031,259
Income taxes receivable	115,739	103,702
Prepaid expenses and other current assets	327,235	272,809
Assets held for sale	0	11,057
Total current assets	4,466,339	4,237,363
Deferred tax assets	28,028	31,211
Other long-lived assets	161,747	113,195
Operating lease assets, net	318,363	257,784
Intangible assets, net	793,192	832,066
Goodwill	1,316,811	1,338,884
Property, plant and equipment, net	3,851,943	3,533,027
Total assets	10,936,423	10,343,530
Revenue contract liabilities	28,609	37,622
Accrued expenses and other current liabilities	1,047,645	1,095,858
Income taxes payable	109,945	123,769
Current maturities of long-term debt	911	924
Total current liabilities	2,889,209	2,890,258
Noncurrent operating lease liabilities, less current maturities	256,276	199,315
Long-term debt, less current maturities	3,404,706	3,093,113
Deferred tax liabilities	465,577	452,326
Other long-term liabilities	32,775	14,787
Total liabilities	7,048,543	6,649,799
Common stock	2,633	2,627
Treasury stock	(544,687)	(544,687)
Additional paid-in capital	2,040,586	2,023,609
Retained earnings	2,477,929	2,245,523
Accumulated other comprehensive loss	(100,843)	(47,022)
Total Pilgrim’s Pride Corporation stockholders’ equity	3,875,618	3,680,050
Noncontrolling interest	12,262	13,681
Total stockholders’ equity	3,887,880	3,693,731
Total liabilities and stockholders’ equity	10,936,423	10,343,530
Nonrelated Party
Statement [Line Items]
Trade accounts and other receivables, less allowance for credit losses and Accounts receivable from related parties	991,854	1,164,903
Accounts payable and Accounts payable to related parties	1,652,888	1,588,569
Related Party
Statement [Line Items]
Trade accounts and other receivables, less allowance for credit losses and Accounts receivable from related parties	19,748	13,398
Accounts payable and Accounts payable to related parties	$ 49,211	$ 43,516

DERIVATIVE FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 27, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

Information regarding the Company’s outstanding derivative instruments and cash collateral posted with brokers is included in the following table:


	September 27, 2026			December 28, 2025
	(In thousands)
Fair values:
Commodity derivative assets	$	17,323		$	9,509
Commodity derivative liabilities	(8,249)			(1,343)
Foreign currency derivative assets	1,660			95
Foreign currency derivative liabilities	(138)			(205)

Sales contract derivative liabilities	(4,826)			(2,638)
Cash collateral posted with brokers(a)	1,186			—
Margin cash payable(a)	—			(3,886)
Derivatives coverage(b):
Corn	12.5		%	11.6		%
Soybean meal	13.0		%	13.8		%
Period through which stated percent of needs are covered:
Corn	December 2027			December 2026
Soybean meal	July 2027			December 2026

(a)Collateral posted with brokers consists primarily of cash, short-term treasury bills or other cash equivalents.

(b)Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.

The following table presents the gains and losses of each derivative instrument held by the Company not designated or qualifying as hedging instruments:


	Three Months Ended				Nine Months Ended
Type of Contract (a)	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025		Affected Line Item in the Condensed Consolidated Statements of Income
	(In thousands)
Commodity derivatives	$	16,824	$	7,260	$	12,080	$	(14,744)	Cost of sales
Sales contract derivatives	(5,457)		(5,527)		(2,188)		(2,299)		Net sales
Foreign currency derivatives	1,592		—		1,592		—		Foreign currency transaction losses
Total	$	12,959	$	1,733	$	11,484	$	(17,043)

(a)Amounts represent income (expenses) related to results of operations.

The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges:


	Gains (Losses) Recognized in Other Comprehensive Income (Loss)
	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Foreign currency derivatives	$	(268)	$	(2,504)	$	178	$	(846)


	Gains (Losses) Reclassified from AOCI into Income
	Three Months Ended September 27, 2026				Three Months Ended September 28, 2025
	Net sales(a)		Cost of sales(b)		Net sales(a)		Cost of sales(b)
	(In thousands)
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	$	4,653,206	$	4,319,534	$	4,759,342	$	4,099,958
Impact from cash flow hedging instruments:
Foreign currency derivatives	(243)		(65)		(734)		—

(a)Amounts represent income (expenses) related to net sales.

(b)Amounts represent expenses (income) related to cost of sales.


	Gains (Losses) Reclassified from AOCI into Income
	Nine Months Ended September 27, 2026				Nine Months Ended September 28, 2025
	Net sales(a)		Cost of sales(b)		Net sales(a)		Cost of sales(b)
	(In thousands)
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	$	13,812,069	$	12,793,155	$	13,979,716	$	12,050,164
Impact from cash flow hedging instruments:
Foreign currency derivatives	(223)		(101)		(2,047)		(31)

(a)Amounts represent income (expenses) related to net sales.

(b)Amounts represent expenses (income) related to cost of sales.

At September 27, 2026, there was a $1.2 million pre-tax deferred net loss on foreign currency derivatives recorded in AOCI that is expected to be reclassified to the Condensed Consolidated Statements of Income during the next twelve months. This expectation is based on the anticipated settlements on the hedged investments in foreign currencies that will occur over the next twelve months, at which time the Company will recognize the deferred loss to earnings.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) £ in Thousands, $ in Thousands	Aug. 14, 2026 USD ($)	Aug. 14, 2026 GBP (£)	Sep. 27, 2026 state
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of States in which Entity Operates			14
Walkers Deli And Sausage Company Limited
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Aggregate purchase price	$ 191,900	£ 141,500
Exchange rate	1.36	1.36
Pilgrims Pride Corporation \| JBS SA
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidiary, ownership percentage, parent			82.10%

TRADE ACCOUNTS AND OTHER RECEIVABLES

9 Months Ended

Sep. 27, 2026

Accounts Receivable, after Allowance for Credit Loss [Abstract]

TRADE ACCOUNTS AND OTHER RECEIVABLES

Trade accounts and other receivables, less allowance for credit losses, consisted of the following:


	September 27, 2026		December 28, 2025
	(In thousands)
Trade accounts receivable	$	930,222	$	1,109,218
Notes receivable from third parties	10,164		10,111
Other receivables	58,649		52,690
Receivables, gross	999,035		1,172,019
Allowance for credit losses (a)	(7,181)		(7,116)
Receivables, net	$	991,854	$	1,164,903

Accounts receivable from related parties(b)	$	19,748	$	13,398

(a)Activity in the allowance for credit losses was immaterial in the nine months ended September 27, 2026.

(b)Additional information regarding accounts receivable from related parties is included in “Note 15. Related Party Transactions.”

In June 2023, the Company and JBS USA Food Company (“JBS USA”) jointly entered into a receivables purchase agreement with a bank for an uncommitted facility with no recourse to the Company or JBS USA. At September 27, 2026, the maximum capacity of the facility was $495.0 million. Under the facility, the Company may sell eligible trade receivables in exchange for cash. Transfers under the agreement are recorded as a sale under ASC 860, Broad Transactions – Transfers and Servicing. At the transfer date, the Company receives cash equal to the face value of the receivables sold less a fee based on the current Secured Overnight Financing Rate (“SOFR”) plus an applicable margin applied over the customer payment term. The fees are immaterial.

TRADE ACCOUNTS AND OTHER RECEIVABLES - Schedule of Trade Accounts and Other Receivables and Allowance for Credit Losses (Details) - Related Party - USD ($) $ in Thousands	Sep. 27, 2026	Dec. 28, 2025
Financing Receivable, Allowance for Credit Loss [Line Items]
Trade accounts receivable	$ 930,222	$ 1,109,218
Notes receivable from third parties	10,164	10,111
Other receivables	58,649	52,690
Receivables, gross	999,035	1,172,019
Allowance for credit losses	(7,181)	(7,116)
Receivables, net	991,854	1,164,903
Account receivable from related parties	$ 19,748	$ 13,398

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph c
-Publisher SEC

+ Details

TRADE ACCOUNTS AND OTHER RECEIVABLES - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($)
JBS USA Food Company
Financing Receivable, Allowance for Credit Loss [Line Items]
Availability (USD)	$ 495.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

REPORTABLE SEGMENTS

9 Months Ended

Sep. 27, 2026

Segment Reporting [Abstract]

REPORTABLE SEGMENTS

The Company operates in three reportable segments: U.S., Europe, and Mexico. The Company’s reportable segments are identified by a combination of factors, including geographic area, regulatory environment, economic environment and product portfolios. Each reportable segment is managed separately through a local management team. The results of each operating, or reportable, segment are provided to the chief operating decision maker (“CODM”) on a regular basis. The Company’s CODM is the President and Chief Executive Officer. The information provided to the CODM at the operating segment level is then used to assess performance and make decisions regarding allocation of key resources. The CODM primarily measures segment profit and evaluates performance based on operating income.

We conduct separate operations in the continental U.S. and in Puerto Rico. For segment reporting purposes, the Puerto Rico operations are included in the U.S. reportable segment. The chicken products processed by the U.S. reportable segment are sold to foodservice, retail and frozen entrée customers. The segment’s primary distribution is through retailers, foodservice distributors and restaurants.

The Europe reportable segment processes primarily fresh chicken, pork products, lamb products, specialty meats, ready meals and other prepared foods that are sold to foodservice, retail and direct to consumer customers. The segment’s primary distribution is through retailers, foodservice distributors and restaurants.

The chicken products processed by the Mexico reportable segment are sold to foodservice, retail and frozen entrée customers. The segment’s primary distribution is through retailers, foodservice distributors and restaurants.

Additional information regarding reportable segments is as follows:


	Three Months Ended				Nine Months Ended
	September 27, 2026(a)		September 28, 2025(b)		September 27, 2026(c)		September 28, 2025(d)
	(In thousands)
Net sales
U.S.	$	2,680,134	$	2,836,613	$	7,964,774	$	8,400,187
Europe	1,374,013		1,392,495		4,115,404		3,995,294
Mexico	599,059		530,234		1,731,891		1,584,235
Total net sales	$	4,653,206	$	4,759,342	$	13,812,069	$	13,979,716

(a)In addition to the above third party sales, for the three months ended September 27, 2026, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $26.7 million These sales consisted of fresh products, prepared products and grain.

(b)In addition to the above third party sales, for the three months ended September 28, 2025, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $28.5 million. These sales consisted of fresh products, prepared products and grain.

(c)In addition to the above third party sales, for the nine months ended September 27, 2026, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $75.0 million These sales consisted of fresh products, prepared products and grain.

(d)In addition to the above third party sales, for the nine months ended September 28, 2025, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $77.7 million. These sales consisted of fresh products, prepared products and grain.


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Cost of sales
U.S.	$	2,496,949	$	2,353,296	$	7,388,075	$	7,040,006
Europe	1,261,691		1,271,148		3,771,806		3,633,510
Mexico	560,894		475,514		1,633,274		1,376,648
Total cost of sales	$	4,319,534	$	4,099,958	$	12,793,155	$	12,050,164


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Gross profit
U.S.	$	183,185	$	483,317	$	576,699	$	1,360,181
Europe	112,322		121,347		343,598		361,784
Mexico	38,165		54,720		98,617		207,587
Total gross profit	$	333,672	$	659,384	$	1,018,914	$	1,929,552


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Selling, general administrative expenses
U.S.	$	77,396	$	99,194	$	395,113	$	302,265
Europe	48,907		50,084		143,413		150,920
Mexico	15,866		15,719		48,915		45,048
Total SG&A expenses	$	142,169	$	164,997	$	587,441	$	498,233


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Restructuring activities charges
Europe	$	—	$	1,779	$	11,464	$	21,890


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Operating income
U.S.	$	105,789	$	384,123	$	181,586	$	1,057,916
Europe	63,415		69,484		188,721		188,974
Mexico	22,299		39,001		49,702		162,539
Total operating income	$	191,503	$	492,608	$	420,009	$	1,409,429


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Reconciliation of profit or loss (segment operating income)
Total operating income	$	191,503	$	492,608	$	420,009	$	1,409,429
Interest expense, net of capitalized interest	31,782		38,157		119,489		122,370
Interest income	(1,579)		(9,167)		(12,199)		(45,144)
Foreign currency transaction losses	1,304		5,169		888		8,008
Miscellaneous, net	(298)		(2,931)		(2,075)		(3,209)
Income before income taxes	160,294		461,380		313,906		1,327,404
Income tax expense	43,977		118,319		82,919		331,991
Net income	$	116,317	$	343,061	$	230,987	$	995,413


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Interest expense
U.S.	$	31,075	$	37,434	$	116,941	$	120,069
Europe	497		550		1,926		1,799
Mexico	210		173		622		502

Total interest expense	$	31,782	$	38,157	$	119,489	$	122,370


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Interest income
U.S.	$	(689)	$	(4,581)	$	(4,729)	$	(25,999)
Europe	(621)		(553)		(5,669)		(3,881)
Mexico	(269)		(4,033)		(1,801)		(15,264)

Total interest income	$	(1,579)	$	(9,167)	$	(12,199)	$	(45,144)


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Income tax expense
U.S.	$	21,484	$	94,424	$	19,988	$	243,640
Europe	15,313		14,135		45,886		40,058
Mexico	7,180		9,760		17,045		48,293
Total income tax expense	$	43,977	$	118,319	$	82,919	$	331,991


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Depreciation and amortization
U.S.	$	78,533	$	72,452	$	233,010	$	209,986
Europe	37,617		38,170		111,737		108,236
Mexico	7,073		5,804		20,263		16,226
Total depreciation and amortization	$	123,223	$	116,426	$	365,010	$	334,448


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Capital expenditures(a)
U.S.	$	153,720	$	121,283	$	555,399	$	303,413
Europe	12,722		22,419		74,088		76,170
Mexico	34,835		34,665		62,212		57,754
Total capital expenditures	$	201,277	$	178,367	$	691,699	$	437,337

(a)Capital expenditures incurred include those that were paid out in cash and those that are still outstanding in accounts payable as of the end of the periods.


	September 27, 2026		December 28, 2025
	(In thousands)
Total assets
U.S.	$	7,418,159	$	7,023,156
Europe	4,478,995		4,376,305
Mexico	1,162,749		1,132,834
Eliminations	(2,123,480)		(2,188,765)
Total assets	$	10,936,423	$	10,343,530


	September 27, 2026		December 28, 2025
	(In thousands)
Long-lived assets(a)
U.S.	$	2,666,719	$	2,376,549
Europe	1,099,752		1,040,986
Mexico	407,723		377,164
Eliminations	(3,888)		(3,888)
Total long-lived assets	$	4,170,306	$	3,790,811

(a)For this disclosure, we exclude financial instruments, deferred tax assets and intangible assets in accordance with ASC 280-10-50-41, Segment Reporting. Long-lived assets, as used in ASC 280-10-50-41, implies hard assets that cannot be readily removed.


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Net sales to customers by customer location
U.S.	$	2,562,969	$	2,716,973	$	7,632,646	$	8,073,949
Europe	1,353,647		1,371,726		4,045,324		3,934,152
Mexico	609,852		538,528		1,771,940		1,611,556
Asia-Pacific	84,507		96,700		231,794		248,067
Canada, Caribbean and Central America	19,397		18,049		67,216		54,245
Africa	15,380		10,298		39,755		35,929
South America	7,454		7,068		23,394		21,818
Total	$	4,653,206	$	4,759,342	$	13,812,069	$	13,979,716

Information regarding net sales attributable to each of our primary product lines and markets served with those products is included in "Note 2. Revenue Recognition." We based the table on our internal sales reports and their classification of products.

- Definition

The entire disclosure for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (ee)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

REPORTABLE SEGMENTS (Tables)

9 Months Ended

Sep. 27, 2026

Segment Reporting [Abstract]

Segment Reporting

Additional information regarding reportable segments is as follows:


	Three Months Ended				Nine Months Ended
	September 27, 2026(a)		September 28, 2025(b)		September 27, 2026(c)		September 28, 2025(d)
	(In thousands)
Net sales
U.S.	$	2,680,134	$	2,836,613	$	7,964,774	$	8,400,187
Europe	1,374,013		1,392,495		4,115,404		3,995,294
Mexico	599,059		530,234		1,731,891		1,584,235
Total net sales	$	4,653,206	$	4,759,342	$	13,812,069	$	13,979,716


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Cost of sales
U.S.	$	2,496,949	$	2,353,296	$	7,388,075	$	7,040,006
Europe	1,261,691		1,271,148		3,771,806		3,633,510
Mexico	560,894		475,514		1,633,274		1,376,648
Total cost of sales	$	4,319,534	$	4,099,958	$	12,793,155	$	12,050,164


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Gross profit
U.S.	$	183,185	$	483,317	$	576,699	$	1,360,181
Europe	112,322		121,347		343,598		361,784
Mexico	38,165		54,720		98,617		207,587
Total gross profit	$	333,672	$	659,384	$	1,018,914	$	1,929,552


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Selling, general administrative expenses
U.S.	$	77,396	$	99,194	$	395,113	$	302,265
Europe	48,907		50,084		143,413		150,920
Mexico	15,866		15,719		48,915		45,048
Total SG&A expenses	$	142,169	$	164,997	$	587,441	$	498,233


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Restructuring activities charges
Europe	$	—	$	1,779	$	11,464	$	21,890


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Operating income
U.S.	$	105,789	$	384,123	$	181,586	$	1,057,916
Europe	63,415		69,484		188,721		188,974
Mexico	22,299		39,001		49,702		162,539
Total operating income	$	191,503	$	492,608	$	420,009	$	1,409,429


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Reconciliation of profit or loss (segment operating income)
Total operating income	$	191,503	$	492,608	$	420,009	$	1,409,429
Interest expense, net of capitalized interest	31,782		38,157		119,489		122,370
Interest income	(1,579)		(9,167)		(12,199)		(45,144)
Foreign currency transaction losses	1,304		5,169		888		8,008
Miscellaneous, net	(298)		(2,931)		(2,075)		(3,209)
Income before income taxes	160,294		461,380		313,906		1,327,404
Income tax expense	43,977		118,319		82,919		331,991
Net income	$	116,317	$	343,061	$	230,987	$	995,413


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Interest expense
U.S.	$	31,075	$	37,434	$	116,941	$	120,069
Europe	497		550		1,926		1,799
Mexico	210		173		622		502

Total interest expense	$	31,782	$	38,157	$	119,489	$	122,370


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Interest income
U.S.	$	(689)	$	(4,581)	$	(4,729)	$	(25,999)
Europe	(621)		(553)		(5,669)		(3,881)
Mexico	(269)		(4,033)		(1,801)		(15,264)

Total interest income	$	(1,579)	$	(9,167)	$	(12,199)	$	(45,144)


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Income tax expense
U.S.	$	21,484	$	94,424	$	19,988	$	243,640
Europe	15,313		14,135		45,886		40,058
Mexico	7,180		9,760		17,045		48,293
Total income tax expense	$	43,977	$	118,319	$	82,919	$	331,991


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Depreciation and amortization
U.S.	$	78,533	$	72,452	$	233,010	$	209,986
Europe	37,617		38,170		111,737		108,236
Mexico	7,073		5,804		20,263		16,226
Total depreciation and amortization	$	123,223	$	116,426	$	365,010	$	334,448


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Capital expenditures(a)
U.S.	$	153,720	$	121,283	$	555,399	$	303,413
Europe	12,722		22,419		74,088		76,170
Mexico	34,835		34,665		62,212		57,754
Total capital expenditures	$	201,277	$	178,367	$	691,699	$	437,337

(a)Capital expenditures incurred include those that were paid out in cash and those that are still outstanding in accounts payable as of the end of the periods.


	September 27, 2026		December 28, 2025
	(In thousands)
Total assets
U.S.	$	7,418,159	$	7,023,156
Europe	4,478,995		4,376,305
Mexico	1,162,749		1,132,834
Eliminations	(2,123,480)		(2,188,765)
Total assets	$	10,936,423	$	10,343,530


	September 27, 2026		December 28, 2025
	(In thousands)
Long-lived assets(a)
U.S.	$	2,666,719	$	2,376,549
Europe	1,099,752		1,040,986
Mexico	407,723		377,164
Eliminations	(3,888)		(3,888)
Total long-lived assets	$	4,170,306	$	3,790,811


	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(In thousands)
Net sales to customers by customer location
U.S.	$	2,562,969	$	2,716,973	$	7,632,646	$	8,073,949
Europe	1,353,647		1,371,726		4,045,324		3,934,152
Mexico	609,852		538,528		1,771,940		1,611,556
Asia-Pacific	84,507		96,700		231,794		248,067
Canada, Caribbean and Central America	19,397		18,049		67,216		54,245
Africa	15,380		10,298		39,755		35,929
South America	7,454		7,068		23,394		21,818
Total	$	4,653,206	$	4,759,342	$	13,812,069	$	13,979,716

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

TRADE ACCOUNTS AND OTHER RECEIVABLES (Tables)

9 Months Ended

Sep. 27, 2026

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Schedule of Trade Accounts and Other Receivables and Allowance for Credit Losses

Trade accounts and other receivables, less allowance for credit losses, consisted of the following:


	September 27, 2026		December 28, 2025
	(In thousands)
Trade accounts receivable	$	930,222	$	1,109,218
Notes receivable from third parties	10,164		10,111
Other receivables	58,649		52,690
Receivables, gross	999,035		1,172,019
Allowance for credit losses (a)	(7,181)		(7,116)
Receivables, net	$	991,854	$	1,164,903

Accounts receivable from related parties(b)	$	19,748	$	13,398

(a)Activity in the allowance for credit losses was immaterial in the nine months ended September 27, 2026.

(b)Additional information regarding accounts receivable from related parties is included in “Note 15. Related Party Transactions.”

REVENUE RECOGNITION

9 Months Ended

Sep. 27, 2026

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

The vast majority of the Company’s revenue is derived from contracts which are based upon a customer ordering its products. While there may be master agreements, the contract is only established when the customer’s order is accepted by the Company. The Company accounts for a contract, which may be verbal or written, when it is approved and committed by both parties, the rights of the parties are identified along with payment terms, the contract has commercial substance and collectability is probable.

The Company evaluates the transaction for distinct performance obligations, which are the sale of its products to customers. Since its products are commodity market-priced, the sales price is representative of the observable, standalone selling price. Each performance obligation is recognized based upon a pattern of recognition that reflects the transfer of control to the customer at a point in time, which is upon destination (customer location or port of destination), and depicts the transfer of control and recognition of revenue. There are instances of customer pick-up at the Company’s facilities, in which case control transfers to the customer at that point and the Company recognizes revenue. The Company’s performance obligations are typically fulfilled within days to weeks of the acceptance of the order.

The Company makes judgments regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from revenue and cash flows with customers. Determination of a contract requires evaluation and judgment along with the estimation of the total contract value and if any of the contract value is constrained. Due to the nature of our business, there is minimal variable consideration, as the contract is established at the acceptance of the order from the customer. When applicable, variable consideration is estimated at contract inception and updated on a regular basis until the contract is completed. Allocating the transaction price to a specific performance obligation based upon the relative standalone selling prices includes estimating the standalone selling prices including discounts and variable consideration.

Disaggregated Revenue

Revenue has been disaggregated into the categories below to show how economic factors affect the nature, amount, timing and uncertainty of revenue and cash flows:


	Three Months Ended September 27, 2026
	(In thousands)
	Fresh		Prepared		Export		Other (a)		Total
U.S.	$	2,044,077	$	372,939	$	130,517	$	132,601	$	2,680,134
Europe	454,222		761,824		139,188		18,779		1,374,013
Mexico	499,513		62,145		—		37,401		599,059
Total net sales	$	2,997,812	$	1,196,908	$	269,705	$	188,781	$	4,653,206


	Three Months Ended September 28, 2025
	(In thousands)
	Fresh		Prepared		Export		Other (a)		Total
U.S.	$	2,285,301	$	351,242	$	119,827	$	80,243	$	2,836,613
Europe	441,162		796,788		154,545		—		1,392,495
Mexico	439,265		60,887		—		30,082		530,234
Total net sales	$	3,165,728	$	1,208,917	$	274,372	$	110,325	$	4,759,342


	Nine Months Ended September 27, 2026
	(In thousands)
	Fresh		Prepared		Export		Other (a)		Total
U.S.	$	6,218,011	$	1,069,440	$	347,238	$	330,085	$	7,964,774
Europe	1,356,838		2,276,326		447,718		34,522		4,115,404
Mexico	1,430,314		198,912		—		102,665		1,731,891
Total net sales	$	9,005,163	$	3,544,678	$	794,956	$	467,272	$	13,812,069


	Nine Months Ended September 28, 2025
	(In thousands)
	Fresh		Prepared		Export		Other (a)		Total
U.S.	$	6,829,130	$	983,630	$	328,630	$	258,797	$	8,400,187
Europe	1,178,340		2,350,310		424,693		41,951		3,995,294
Mexico	1,332,735		167,216		—		84,284		1,584,235
Total net sales	$	9,340,205	$	3,501,156	$	753,323	$	385,032	$	13,979,716

(a)Included in Other sales shown above are sales of commodity grains and protein byproducts

Additional disaggregation of revenue by sales channel is provided below:


	Three Months Ended September 27, 2026
	(In thousands)
	Retail		Foodservice		Export		Other		Total
U.S.	$	1,494,425	$	909,515	$	130,517	$	145,677	$	2,680,134
Europe	818,569		240,178		139,188		176,078		1,374,013
Mexico(a)	165,219		269,447		—		164,393		599,059
Total net sales	$	2,478,213	$	1,419,140	$	269,705	$	486,148	$	4,653,206


	Three Months Ended September 28, 2025
	(In thousands)
	Retail		Foodservice		Export		Other		Total
U.S.	$	1,565,285	$	1,051,877	$	119,827	$	99,624	$	2,836,613
Europe	851,509		242,759		154,545		143,682		1,392,495
Mexico(a)	147,572		232,642		—		150,020		530,234
Total net sales	$	2,564,366	$	1,527,278	$	274,372	$	393,326	$	4,759,342


	Nine Months Ended September 27, 2026
	(In thousands)
	Retail		Foodservice		Export		Other		Total
U.S.	$	4,505,685	$	2,728,543	$	347,238	$	383,308	$	7,964,774
Europe	2,488,330		738,772		447,718		440,584		4,115,404
Mexico(a)	483,483		765,983		—		482,425		1,731,891
Total net sales	$	7,477,498	$	4,233,298	$	794,956	$	1,306,317	$	13,812,069


	Nine Months Ended September 28, 2025
	(In thousands)
	Retail		Foodservice		Export		Other		Total
U.S.	$	4,638,890	$	3,135,145	$	328,630	$	297,522	$	8,400,187
Europe	2,473,737		700,026		424,693		396,838		3,995,294
Mexico(a)	413,559		716,996		—		453,680		1,584,235
Total net sales	$	7,526,186	$	4,552,167	$	753,323	$	1,148,040	$	13,979,716

Contract Costs

The Company can incur incremental costs to obtain or fulfill a contract such as broker expenses that are not expected to be recovered. The amortization period for such expenses is less than one year; therefore, the costs are expensed as incurred.

Taxes

The Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer (for example, sales, use, value added and some excise taxes) from the transaction price.

Contract Balances

The Company receives payment from customers based on terms established with the customer. Payments are typically due within 14 to 30 days of delivery. Revenue contract liabilities relate to payments received in advance of satisfying the performance under the customer contract. The revenue contract liabilities relate to customer prepayments and the advanced consideration, such as cash, received from governmental agency contracts for which performance obligations to the end customer have not been satisfied.

Changes in the revenue contract liabilities balance are as follows (in thousands):


Balance as of December 28, 2025	$	37,622
Revenue recognized	(19,410)
Cash received, excluding amounts recognized as revenue during the period	10,319
Currency translation	78
Balance as of September 27, 2026	$	28,609

Accounts Receivable

The Company records accounts receivable when revenue is recognized. We record an allowance for credit losses, reducing our receivables balance to an amount we estimate is collectible from our customers. Estimates used in determining the allowance for credit losses are based on historical collection experience, current trends, aging of accounts receivable and periodic credit evaluations of our customers’ financial condition. We write off accounts receivable when it becomes apparent, based upon age or customer circumstances, that such amounts will not be collected. Generally, the Company does not require collateral for its accounts receivable.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 27, 2026	Dec. 28, 2025
Accounts payable:
Trade accounts payable	$ 1,531,970	$ 1,400,186
Book overdrafts	98,858	160,068
Other payables	22,060	28,315
Revenue contract liabilities	28,609	37,622
Accrued expenses and other current liabilities:
Compensation and benefits	281,071	367,035
Accrued sales rebates	132,828	135,108
Taxes	126,106	60,577
Litigation settlements	92,156	152,940
Insurance and self-insured claims	87,322	104,009
Current maturities of operating lease liabilities	64,612	59,630
Interest and debt-related fees	$ 60,285	$ 64,947
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Derivative liabilities	$ 13,213	$ 8,072
Other accrued expenses	190,052	143,540
Total accrued expenses and other current liabilities	1,047,645	1,095,858
Total	2,778,353	2,765,565
Nonrelated Party
Accounts payable:
Accounts payable to related parties	1,652,888	1,588,569
Related Party
Accounts payable:
Accounts payable to related parties	$ 49,211	$ 43,516

FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 27, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured on a Recurring Basis

The following items were measured at fair value on a recurring basis:


	September 27, 2026						December 28, 2025
	Level 1		Level 2		Total		Level 1		Level 2		Total
	(In thousands)
Assets:
Fixed income securities	$	160,568	$	—	$	160,568	$	520,899	$	—	$	520,899
Commodity derivative assets	17,323		—		17,323		9,509		—		9,509
Foreign currency derivative assets	1,660		—		1,660		95		—		95

Liabilities:					—
Commodity derivative liabilities	(8,249)		—		(8,249)		(1,343)		—		(1,343)
Foreign currency derivative liabilities	(138)		—		(138)		(205)		—		(205)
Sales contract derivative liabilities	—		(4,826)		(4,826)		—		(2,638)		(2,638)

Schedule of Carrying Amounts and Estimated Fair Values of Fixed-Rate Debt Obligation

The carrying amounts and estimated fair values of our debt obligations recorded in the Condensed Consolidated Balance Sheets consisted of the following:


	September 27, 2026				December 28, 2025
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Fixed-rate senior notes payable at 3.50%, at Level 2 inputs	$	(889,592)	$	(780,724)	$	(899,600)	$	(831,572)
Fixed-rate senior notes payable at 4.25%, at Level 2 inputs	(792,541)		(739,193)		(791,946)		(775,458)
Fixed-rate senior notes payable at 6.25%, at Level 2 inputs	(669,456)		(671,996)		(917,852)		(988,878)
Fixed-rate senior notes payable at 6.875%, at Level 2 inputs	(492,942)		(516,240)		(492,251)		(555,740)
Fixed-rate senior notes payable at 4.75%, at Level 2 inputs	(568,788)		(559,976)		—		—
Live Oak CHP Project PACE Loan at 5.15%, at Level 3 inputs	(20,276)		(17,127)		(19,163)		(18,376)

REVENUE RECOGNITION - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Disaggregation of Revenue [Line Items]
Total net sales	$ 4,653,206	$ 4,759,342	$ 13,812,069	$ 13,979,716
Retail
Disaggregation of Revenue [Line Items]
Total net sales	2,478,213		7,477,498	7,526,186
Foodservice
Disaggregation of Revenue [Line Items]
Total net sales	1,419,140		4,233,298	4,552,167
Export
Disaggregation of Revenue [Line Items]
Total net sales	269,705		794,956	753,323
Other
Disaggregation of Revenue [Line Items]
Total net sales	486,148		1,306,317	1,148,040
Fresh
Disaggregation of Revenue [Line Items]
Total net sales	2,997,812	3,165,728	9,005,163	9,340,205
Prepared
Disaggregation of Revenue [Line Items]
Total net sales	1,196,908	1,208,917	3,544,678	3,501,156
Export
Disaggregation of Revenue [Line Items]
Total net sales	269,705	274,372	794,956	753,323
Other
Disaggregation of Revenue [Line Items]
Total net sales	188,781	110,325	467,272	385,032
Retail
Disaggregation of Revenue [Line Items]
Total net sales		2,564,366
Foodservice
Disaggregation of Revenue [Line Items]
Total net sales		1,527,278
Other
Disaggregation of Revenue [Line Items]
Total net sales		393,326
U.S.
Disaggregation of Revenue [Line Items]
Total net sales	2,680,134	2,836,613	7,964,774	8,400,187
U.S. \| Retail
Disaggregation of Revenue [Line Items]
Total net sales	1,494,425		4,505,685	4,638,890
U.S. \| Foodservice
Disaggregation of Revenue [Line Items]
Total net sales	909,515		2,728,543	3,135,145
U.S. \| Export
Disaggregation of Revenue [Line Items]
Total net sales	130,517		347,238	328,630
U.S. \| Other
Disaggregation of Revenue [Line Items]
Total net sales	145,677		383,308	297,522
U.S. \| Fresh
Disaggregation of Revenue [Line Items]
Total net sales	2,044,077	2,285,301	6,218,011	6,829,130
U.S. \| Prepared
Disaggregation of Revenue [Line Items]
Total net sales	372,939	351,242	1,069,440	983,630
U.S. \| Export
Disaggregation of Revenue [Line Items]
Total net sales	130,517	119,827	347,238	328,630
U.S. \| Other
Disaggregation of Revenue [Line Items]
Total net sales	132,601	80,243	330,085	258,797
U.S. \| Retail
Disaggregation of Revenue [Line Items]
Total net sales		1,565,285
U.S. \| Foodservice
Disaggregation of Revenue [Line Items]
Total net sales		1,051,877
U.S. \| Other
Disaggregation of Revenue [Line Items]
Total net sales		99,624
Europe
Disaggregation of Revenue [Line Items]
Total net sales	1,374,013	1,392,495	4,115,404	3,995,294
Europe \| Retail
Disaggregation of Revenue [Line Items]
Total net sales	818,569		2,488,330	2,473,737
Europe \| Foodservice
Disaggregation of Revenue [Line Items]
Total net sales	240,178		738,772	700,026
Europe \| Export
Disaggregation of Revenue [Line Items]
Total net sales	139,188		447,718	424,693
Europe \| Other
Disaggregation of Revenue [Line Items]
Total net sales	176,078		440,584	396,838
Europe \| Fresh
Disaggregation of Revenue [Line Items]
Total net sales	454,222	441,162	1,356,838	1,178,340
Europe \| Prepared
Disaggregation of Revenue [Line Items]
Total net sales	761,824	796,788	2,276,326	2,350,310
Europe \| Export
Disaggregation of Revenue [Line Items]
Total net sales	139,188	154,545	447,718	424,693
Europe \| Other
Disaggregation of Revenue [Line Items]
Total net sales	18,779	0	34,522	41,951
Europe \| Retail
Disaggregation of Revenue [Line Items]
Total net sales		851,509
Europe \| Foodservice
Disaggregation of Revenue [Line Items]
Total net sales		242,759
Europe \| Other
Disaggregation of Revenue [Line Items]
Total net sales		143,682
Mexico
Disaggregation of Revenue [Line Items]
Total net sales	599,059	530,234	1,731,891	1,584,235
Mexico \| Retail
Disaggregation of Revenue [Line Items]
Total net sales	165,219		483,483	413,559
Mexico \| Foodservice
Disaggregation of Revenue [Line Items]
Total net sales	269,447		765,983	716,996
Mexico \| Export
Disaggregation of Revenue [Line Items]
Total net sales	0		0	0
Mexico \| Other
Disaggregation of Revenue [Line Items]
Total net sales	164,393		482,425	453,680
Mexico \| Fresh
Disaggregation of Revenue [Line Items]
Total net sales	499,513	439,265	1,430,314	1,332,735
Mexico \| Prepared
Disaggregation of Revenue [Line Items]
Total net sales	62,145	60,887	198,912	167,216
Mexico \| Export
Disaggregation of Revenue [Line Items]
Total net sales	0	0	0	0
Mexico \| Other
Disaggregation of Revenue [Line Items]
Total net sales	$ 37,401	30,082	$ 102,665	$ 84,284
Mexico \| Retail
Disaggregation of Revenue [Line Items]
Total net sales		147,572
Mexico \| Foodservice
Disaggregation of Revenue [Line Items]
Total net sales		232,642
Mexico \| Other
Disaggregation of Revenue [Line Items]
Total net sales		$ 150,020

FAIR VALUE MEASUREMENTS - Schedule of Carrying Amounts and Estimated Fair Values of Fixed-Rate Debt Obligation (Details) - Senior Notes - USD ($) $ in Thousands	Sep. 27, 2026	Sep. 23, 2026	Dec. 28, 2025
Fixed-rate senior notes payable at 3.50%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.50%		3.50%
Fixed-rate senior notes payable at 3.50%, at Level 2 inputs \| Level 2 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (889,592)		$ (899,600)
Fixed-rate senior notes payable at 3.50%, at Level 2 inputs \| Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (780,724)		$ (831,572)
Fixed-rate senior notes payable at 4.25%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.25%	4.25%	4.25%
Fixed-rate senior notes payable at 4.25%, at Level 2 inputs \| Level 2 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (792,541)		$ (791,946)
Fixed-rate senior notes payable at 4.25%, at Level 2 inputs \| Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (739,193)		$ (775,458)
Fixed-rate senior notes payable at 6.25%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	6.25%		6.25%
Fixed-rate senior notes payable at 6.25%, at Level 2 inputs \| Level 2 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (669,456)		$ (917,852)
Fixed-rate senior notes payable at 6.25%, at Level 2 inputs \| Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (671,996)		$ (988,878)
Fixed-rate senior notes payable at 6.875%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	6.875%		6.875%
Fixed-rate senior notes payable at 6.875%, at Level 2 inputs \| Level 2 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (492,942)		$ (492,251)
Fixed-rate senior notes payable at 6.875%, at Level 2 inputs \| Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (516,240)		$ (555,740)
Fixed-rate senior notes payable at 4.75%, at Level 2 inputs \| Level 2 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.75%		4.75%
Fixed-rate debt obligation	$ (568,788)		$ 0
Fixed-rate senior notes payable at 4.75%, at Level 2 inputs \| Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (559,976)		$ 0
Live Oak CHP Project PACE Loan at 5.15%, at Level 3 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.15%		5.15%
Live Oak CHP Project PACE Loan at 5.15%, at Level 3 inputs \| Level 3 \| Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (20,276)		$ (19,163)
Live Oak CHP Project PACE Loan at 5.15%, at Level 3 inputs \| Level 3 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (17,127)		$ (18,376)

STOCKHOLDERS' EQUITY - Narrative (Details)	Sep. 27, 2026 $ / shares shares
Equity [Abstract]
Preferred stock, shares authorized (in shares)	50,000,000
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.01
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References + Details

- Definition

Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt.

+ References + Details

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

+ Details

CURRENT LIABILITIES (Tables)

9 Months Ended

Sep. 27, 2026

Payables and Accruals [Abstract]

Schedule of Current Liabilities

Current liabilities, other than income taxes and current maturities of long-term debt, consisted of the following components:


	September 27, 2026		December 28, 2025
	(In thousands)
Accounts payable:
Trade accounts payable	$	1,531,970	$	1,400,186
Book overdrafts	98,858		160,068
Other payables	22,060		28,315
Total accounts payable	1,652,888		1,588,569
Accounts payable to related parties(a)	49,211		43,516
Revenue contract liabilities(b)	28,609		37,622
Accrued expenses and other current liabilities:
Compensation and benefits	281,071		367,035
Accrued sales rebates	132,828		135,108
Taxes	126,106		60,577
Litigation settlements(c)	92,156		152,940
Insurance and self-insured claims	87,322		104,009
Current maturities of operating lease liabilities	64,612		59,630
Interest and debt-related fees	60,285		64,947
Derivative liabilities(d)	13,213		8,072
Other accrued expenses	190,052		143,540
Total accrued expenses and other current liabilities	1,047,645		1,095,858
Total	$	2,778,353	$	2,765,565

(a)Additional information regarding accounts payable to related parties is included in “Note 15. Related Party Transactions.”

(b)Additional information regarding revenue contract liabilities is included in “Note 2. Revenue Recognition.”

(d)Additional information regarding derivative liabilities is included in “Note 3. Derivative Financial Instruments.”

STOCKHOLDERS' EQUITY - Schedule of Reclassification from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Net sales	$ 4,653,206	$ 4,759,342	$ 13,812,069	$ 13,979,716
Cost of sales	(4,319,534)	(4,099,958)	(12,793,155)	(12,050,164)
Interest income	1,579	9,167	12,199	45,144
Miscellaneous, net	298	2,931	2,075	3,209
Tax expense	(43,977)	(118,319)	(82,919)	(331,991)
Net income	$ 116,317	$ 343,061	230,987	995,413
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Total before tax			(66)	(516)
Tax expense			(13)	(368)
Net income			(79)	(884)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) \| Realized losses on settlement of foreign currency derivatives classified as cash flow hedges
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Net sales			(222)	(2,047)
Cost of sales			100	31
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) \| Realized losses on sale of securities
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Interest income			(51)	(110)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) \| Realized gains on settlement of pension obligations from plan termination
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Miscellaneous, net			0	1,611
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) \| Amortization of pension and other postretirement plan actuarial losses
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Miscellaneous, net			$ 107	$ (1)

PENSION AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2026 USD ($)	Sep. 28, 2025 USD ($)	Sep. 27, 2026 USD ($) plan	Sep. 28, 2025 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Retirement plan expenses	$ 7.7	$ 25.6	$ 8.6	$ 24.7
Expenses related to defined contribution plans	7.5	8.0	25.6	25.1
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension program contribution			3.3
Expected contributions, remainder of fiscal year	$ 0.1	$ 3.3	$ 0.1	$ 3.3
U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of defined contribution plans \| plan			2
Mexico
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of defined contribution plans \| plan			3
Europe
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of defined contribution plans \| plan			7

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 27, 2026 USD ($)
Foreign currency derivatives
Derivative [Line Items]
Cash flow hedge loss to be reclassified within twelve months	$ 1.2

SUPPLIER FINANCE PROGRAMS	9 Months Ended
SUPPLIER FINANCE PROGRAMS	Sep. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLIER FINANCE PROGRAMS	SUPPLIER FINANCE PROGRAMS The Company maintains supplier finance programs, under which we agree to pay for invoices that are confirmed as valid under the program from participating suppliers to a financing entity. Maturity dates are generally between 65-120 days and we pay either the supplier or the financing entity depending on the supplier’s election. We do not have an economic interest in a supplier’s participation in the program or a direct financial relationship with the financial institution funding the program. As of September 27, 2026 and December 28, 2025, the outstanding balance of confirmed invoices was $248.7 million and $209.4 million respectively and are included in Accounts payable in the Condensed Consolidated Balance Sheets.

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Pilgrim’s Pride Corporation (referred to herein as “Pilgrim’s,” “PPC,” “the Company,” “we,” “us,” “our,” or similar terms) is one of the largest food companies in the world, with operations in the United States (“U.S.”), the United Kingdom (“U.K.”), Mexico, France, Puerto Rico, the Netherlands and the Republic of Ireland. Pilgrim’s is primarily a chicken producer, with pork and lamb operations in the U.K. Pilgrim’s products are sold to foodservice, retail and frozen entrée customers. The Company’s primary distribution is through retailers, foodservice distributors and restaurants throughout the countries listed above. Additionally, the Company exports chicken and pork products (from its U.K. operations) to over 120 countries. Our fresh products consist of refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, pork ribs, and lamb products. The Company’s prepared products include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meatballs. The Company’s other products include plant-based protein offerings, ready-to-eat meals, multi-protein frozen foods, vegetarian foods and desserts. The Company also provides direct-to-consumer meals and hot food to-go solutions in the U.K. and the Republic of Ireland. We operate feed mills, hatcheries, processing plants and distribution centers in 14 U.S. states, the U.K., Mexico, France, Puerto Rico, the Netherlands and the Republic of Ireland. As of September 27, 2026, JBS N.V., through its indirect wholly-owned subsidiaries (collectively, “JBS”), beneficially owned 82.1% of the Company’s outstanding common stock. Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments unless otherwise disclosed) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 27, 2026 are not necessarily indicative of the results that may be expected for the year ending December 27, 2026. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 28, 2025. The Company operates on the basis of a 52/53 week fiscal year ending on the Sunday falling on or before December 31. Any reference we make to a particular year (for example, 2026) in the notes to these Condensed Consolidated Financial Statements applies to our fiscal year and not the calendar year. The nine months ended September 27, 2026 represents the period from December 29, 2025 through September 27, 2026. The nine months ended September 28, 2025 represents the period from December 30, 2024 through September 28, 2025. The Condensed Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries. We eliminate all significant affiliate accounts and transactions upon consolidation. The Condensed Consolidated Financial Statements have been prepared in conformity with U.S. GAAP using management’s best estimates and judgments. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these estimates and judgments. Significant estimates made by the Company include the allowance for credit losses, reserves related to inventory obsolescence or valuation, useful lives of long-lived assets, goodwill, identifiable intangible assets, valuation of deferred tax assets, insurance accruals, valuation of pension and other postretirement benefits obligations, income tax accruals, certain derivative positions, and valuations of acquired businesses. The functional currency of the Company’s U.S. operations and certain holding-company subsidiaries in Luxembourg, the U.K., Malta and the Republic of Ireland is the U.S. dollar. The functional currency of its U.K. operations is the British pound. The functional currency of the Company’s operations in France, the Netherlands and the Republic of Ireland is the euro. The functional currency of the Company’s operations in Mexico is the Mexican peso. Walkers Sale and Purchase Agreement On August 14, 2026, the Company entered into a sale and purchase agreement (the “SPA”) with Samworth Brothers Limited, a company incorporated in England and Wales (the “Seller”). Pursuant to the SPA, a wholly-owned subsidiary of the Company, Onix Investments UK Limited, a company incorporated in England and Wales (the “Designated Buyer”), has agreed to acquire the entire issued share capital of Walkers Deli & Sausage Company Limited (“Walkers”), a wholly-owned subsidiary of the Seller that conducts the Seller’s pork products business in the U.K. The aggregate purchase price for the acquisition is £141.5 million (or approximately $191.9 million based on a USD to GBP exchange rate of 1.36 as of August 13, 2026), to be paid by the Designated Buyer (or, failing which, by the Company) in cash upon closing, subject to certain routine closing adjustments with respect to working capital and net indebtedness. Closing is expected to occur early in 2027. Recent Accounting Pronouncements Not Yet Adopted as of September 27, 2026 In November 2024, the FASB issued ASU 2024-03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40), which requires additional disclosures for certain costs and expenses to help investors better understand major components of an entity’s income statement. The guidance requires additional disclosures for costs and expenses such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The provisions of the new guidance will be effective for annual reporting years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company plans to adopt this guidance as it becomes effective and is assessing the impacts on our Consolidated Financial Statements.

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) $ in Thousands	9 Months Ended
	Sep. 27, 2026 USD ($)
Cost:
Additions	$ 1,122
Accumulated amortization:
Amortization	(8,553)
Intangible assets, net
Beginning balance	832,066
Additions	1,122
Amortization	(8,553)
Currency Translation	(31,443)
Ending balance	793,192
Trade names not subject to amortization
Trade names not subject to amortization
Beginning balance	613,536
Currency Translation	(11,694)
Ending balance	601,842
Trade names not subject to amortization
Cost:
Beginning balance	114,762
Currency Translation	(753)
Ending balance	114,009
Accumulated amortization:
Beginning balance	(66,052)
Amortization	(1,007)
Currency Translation	(1,765)
Ending balance	(68,824)
Intangible assets, net
Amortization	(1,007)
Customer relationships
Cost:
Beginning balance	456,415
Additions	1,122
Currency Translation	(5,656)
Ending balance	451,881
Accumulated amortization:
Beginning balance	(286,595)
Amortization	(7,546)
Currency Translation	(11,575)
Ending balance	(305,716)
Intangible assets, net
Additions	1,122
Amortization	$ (7,546)

PENSION AND OTHER POSTRETIREMENT BENEFITS - Schedule of Net Defined Benefit Pension and Other Postretirement Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 1,571	$ 1,607	$ 4,736	$ 4,675
Estimated return on plan assets	(1,930)	(2,075)	(5,770)	(5,980)
Settlement gains	0	0	0	(1,611)
Expenses paid from assets	137	116	365	346
Amortization of net gain	(39)	(88)	(121)	(13)
Amortization of past service cost	5	4	14	13
Net costs (income)	(256)	(436)	(776)	(2,570)
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	12	13	31	35
Estimated return on plan assets	0	0	0	0
Settlement gains	0	0	0	0
Expenses paid from assets	0	0	0	0
Amortization of net gain	(1)	0	(1)	(1)
Amortization of past service cost	0	0	0	0
Net costs (income)	$ 11	$ 13	$ 30	$ 34

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (loss)	$ (266)	$ (2,548)	$ 182	$ (804)
Foreign currency derivatives \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (loss)	$ (268)	$ (2,504)	$ 178	$ (846)

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets Amortization and Estimated Useful Lives (Details)	Sep. 27, 2026
Customer relationships \| Minimum
Intangible Asset, Finite-Lived [Line Items]
Intangible assets, estimated useful life (in years)	3 years
Customer relationships \| Maximum
Intangible Asset, Finite-Lived [Line Items]
Intangible assets, estimated useful life (in years)	18 years
Trade names subject to amortization \| Minimum
Intangible Asset, Finite-Lived [Line Items]
Intangible assets, estimated useful life (in years)	15 years
Trade names subject to amortization \| Maximum
Intangible Asset, Finite-Lived [Line Items]
Intangible assets, estimated useful life (in years)	20 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482558/350-40-50-1

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-URI https://asc.fasb.org/1943274/2147479876/805-20-55-14

Reference 36: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-SubTopic 30
-Topic 350
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-1

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483154/926-20-50-5

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025
Cash flows from operating activities:
Net income	$ 230,987	$ 995,413
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	365,010	334,448
Asset impairment	22,263	844
Deferred income tax expense (benefit)	21,654	(34,042)
Stock-based compensation	16,983	19,575
Loss on early extinguishment of debt recognized as a component of interest expense	16,327	573
Loss on property disposals	5,209	2,855
Loan cost amortization	3,817	3,718
Accretion of discount related to Senior Notes	1,669	1,796
Changes in operating assets and liabilities:
Trade accounts and other receivables	154,564	(84,675)
Inventories	(64,632)	(138,932)
Prepaid expenses and other current assets	(54,864)	(34,558)
Accounts payable, accrued expenses and other current liabilities	16,435	(42,442)
Income taxes	(27,163)	95,827
Long-term pension and other postretirement obligations	2,618	(245)
Other operating assets and liabilities	(26,690)	(39,715)
Cash provided by operating activities	684,187	1,080,440
Cash flows from investing activities:
Acquisitions of property, plant and equipment	(682,072)	(441,146)
Proceeds from property disposals	11,718	4,143
Business acquisitions	(3,073)	0
Cash used in investing activities	(673,427)	(437,003)
Cash flows from financing activities:
Proceeds from revolving line of credit and long-term borrowings	709,308	0
Payments on revolving line of credit, long-term borrowings and finance lease obligations	(399,770)	(114,772)
Payment on early extinguishment of debt	(14,548)	(2,120)
Payments of capitalized loan costs	(6,464)	0
Payments for dividend	0	(1,994,347)
Purchase of noncontrolling interest	0	(1,294)
Cash provided by (used in) financing activities	288,526	(2,112,533)
Effect of exchange rate changes on cash and cash equivalents	(2,564)	41,281
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	296,722	(1,427,815)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period	640,235	2,043,158
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	$ 936,957	$ 615,343

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivatives Line Item in Condensed Consolidated Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2026	Sep. 28, 2025	Sep. 27, 2026	Sep. 28, 2025
Derivative [Line Items]
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	$ 4,653,206	$ 4,759,342	$ 13,812,069	$ 13,979,716
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	4,319,534	4,099,958	12,793,155	12,050,164
Impact from cash flow hedging instruments	(178)	(734)	(122)	(2,016)
Sales contract derivatives \| Income Statement Location [Axis]: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Derivative [Line Items]
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	4,653,206	4,759,342	13,812,069	13,979,716
Commodity derivative \| Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
Derivative [Line Items]
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	4,319,534	4,099,958	12,793,155	12,050,164
Foreign currency derivatives \| Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
Derivative [Line Items]
Impact from cash flow hedging instruments	(65)	0	(101)	(31)
Foreign currency derivatives \| Income Statement Location [Axis]: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Derivative [Line Items]
Impact from cash flow hedging instruments	$ (243)	$ (734)	$ (223)	$ (2,047)

- Definition

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

PROPERTY, PLANT AND EQUIPMENT (Tables)

9 Months Ended

Sep. 27, 2026

Property, Plant, and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment (“PP&E”), net consisted of the following:


	September 27, 2026		December 28, 2025
	(In thousands)
Land	$	221,977	$	220,462
Buildings	2,534,259		2,445,820
Machinery and equipment	4,727,673		4,417,923
Autos and trucks	139,548		137,293
Finance lease assets	4,233		4,990
Construction-in-progress	655,861		667,315
PP&E, gross	8,283,551		7,893,803
Accumulated depreciation	(4,431,608)		(4,360,776)
PP&E, net	$	3,851,943	$	3,533,027

STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 27, 2026

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Accumulated Other Comprehensive Income (Loss)

The following tables provide information regarding the changes in accumulated other comprehensive loss:


	Nine Months Ended September 27, 2026
	Losses Related to Foreign Currency Translation		Losses on Derivative Financial Instruments Classified as Cash Flow Hedges		Losses Related to Pension and Other Postretirement Benefits		Losses on Available-for-Sale Securities		Total
	(In thousands)
Balance, beginning of period	$	(13,218)	$	(1,475)	$	(32,312)	$	(17)	$	(47,022)
Other comprehensive income (loss) before reclassifications	(54,258)		178		215		(39)		(53,904)
Amounts reclassified from accumulated other comprehensive loss (income) to net income	—		122		(82)		39		79
Currency translation	—		4		—		—		4
Net current period other comprehensive income (loss)	(54,258)		304		133		—		(53,821)
Balance, end of period	$	(67,476)	$	(1,171)	$	(32,179)	$	(17)	$	(100,843)


	Nine Months Ended September 28, 2025
	Losses Related to Foreign Currency Translation		Losses on Derivative Financial Instruments Classified as Cash Flow Hedges		Losses Related to Pension and Other Postretirement Benefits		Losses on Available-for-Sale Securities		Total
	(In thousands)
Balance, beginning of period	$	(337,243)	$	(2,007)	$	(31,028)	$	(22)	$	(370,300)
Other comprehensive income (loss) before reclassifications	284,515		(846)		(1,754)		(59)		281,856
Amounts reclassified from accumulated other comprehensive loss (income) to net income	—		2,016		(1,215)		83		884
Currency translation	—		42		152		—		194
Net current period other comprehensive income (loss)	284,515		1,212		(2,817)		24		282,934
Balance, end of period	$	(52,728)	$	(795)	$	(33,845)	$	2	$	(87,366)


	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)(a)
Details about Accumulated Other Comprehensive Income (Loss) Components	Nine Months Ended September 27, 2026		Nine Months Ended September 28, 2025		Affected Line Item in the Condensed Consolidated Statements of Income (Loss)
	(In thousands)
Realized losses on settlement of foreign currency derivatives classified as cash flow hedges	$	(222)	$	(2,047)	Net sales
Realized gains on settlement of foreign currency derivatives classified as cash flow hedges	100		31		Cost of sales
Realized losses on sale of securities	(51)		(110)		Interest income
Realized gains on settlement of pension obligations from plan termination	—		1,611		Miscellaneous, net
Amortization of pension and other postretirement plan actuarial gains (losses)(b)	107		(1)		Miscellaneous, net
Total before tax	(66)		(516)
Tax expense	(13)		(368)
Total reclassification for the period	$	(79)	$	(884)

(a)Positive amounts represent income to the results of operations while amounts in parentheses represent expenses to the results of operations.

(b)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See “Note 13. Pension and Other Postretirement Benefits.”

Preferred Stock

The Company has authorized 50,000,000 shares of $0.01 par value preferred stock, although no shares have been issued and no shares are outstanding.

Restrictions on Dividends

The U.S. Credit Facility and the indentures governing the Company’s senior notes have currently no restrictions on dividends. Under certain triggering events, the U.S. Credit Facility may limit the Company’s ability to declare and pay dividends. Additionally, the Europe Credit Facility may restrict MPH(E) and other Pilgrim’s entities located in the U.K. and Republic of Ireland to, among other things, make payments and distributions to the Company.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479951/505-20-S50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 27, 2026

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Loss

The following tables provide information regarding the changes in accumulated other comprehensive loss:


	Nine Months Ended September 27, 2026
	Losses Related to Foreign Currency Translation		Losses on Derivative Financial Instruments Classified as Cash Flow Hedges		Losses Related to Pension and Other Postretirement Benefits		Losses on Available-for-Sale Securities		Total
	(In thousands)
Balance, beginning of period	$	(13,218)	$	(1,475)	$	(32,312)	$	(17)	$	(47,022)
Other comprehensive income (loss) before reclassifications	(54,258)		178		215		(39)		(53,904)
Amounts reclassified from accumulated other comprehensive loss (income) to net income	—		122		(82)		39		79
Currency translation	—		4		—		—		4
Net current period other comprehensive income (loss)	(54,258)		304		133		—		(53,821)
Balance, end of period	$	(67,476)	$	(1,171)	$	(32,179)	$	(17)	$	(100,843)


	Nine Months Ended September 28, 2025
	Losses Related to Foreign Currency Translation		Losses on Derivative Financial Instruments Classified as Cash Flow Hedges		Losses Related to Pension and Other Postretirement Benefits		Losses on Available-for-Sale Securities		Total
	(In thousands)
Balance, beginning of period	$	(337,243)	$	(2,007)	$	(31,028)	$	(22)	$	(370,300)
Other comprehensive income (loss) before reclassifications	284,515		(846)		(1,754)		(59)		281,856
Amounts reclassified from accumulated other comprehensive loss (income) to net income	—		2,016		(1,215)		83		884
Currency translation	—		42		152		—		194
Net current period other comprehensive income (loss)	284,515		1,212		(2,817)		24		282,934
Balance, end of period	$	(52,728)	$	(795)	$	(33,845)	$	2	$	(87,366)

Schedule of Reclassification from Accumulated Other Comprehensive Income (Loss)


	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)(a)
Details about Accumulated Other Comprehensive Income (Loss) Components	Nine Months Ended September 27, 2026		Nine Months Ended September 28, 2025		Affected Line Item in the Condensed Consolidated Statements of Income (Loss)
	(In thousands)
Realized losses on settlement of foreign currency derivatives classified as cash flow hedges	$	(222)	$	(2,047)	Net sales
Realized gains on settlement of foreign currency derivatives classified as cash flow hedges	100		31		Cost of sales
Realized losses on sale of securities	(51)		(110)		Interest income
Realized gains on settlement of pension obligations from plan termination	—		1,611		Miscellaneous, net
Amortization of pension and other postretirement plan actuarial gains (losses)(b)	107		(1)		Miscellaneous, net
Total before tax	(66)		(516)
Tax expense	(13)		(368)
Total reclassification for the period	$	(79)	$	(884)

(a)Positive amounts represent income to the results of operations while amounts in parentheses represent expenses to the results of operations.

(b)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See “Note 13. Pension and Other Postretirement Benefits.”

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Common stock, beginning balance (in shares) at Dec. 29, 2024		262,263
Balance, beginning of period at Dec. 29, 2024	$ 4,253,396	$ 2,623	$ (544,687)	$ 1,994,259	$ 3,157,511	$ (370,300)	$ 13,990
Treasury stock, beginning of period (in shares) at Dec. 29, 2024			(25,142)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	995,413				994,366		1,047
Other comprehensive income (loss), net of tax	282,934					282,934
Stock-based compensation plans:
Common stock issued under compensation plans (in shares)		425
Common stock issued under compensation plans	0	$ 4		(4)
Requisite service period recognition	19,575			19,575
Special cash dividend	(1,994,347)				(1,994,347)
Purchase of noncontrolling interest	(1,294)						(1,294)
Common stock, ending balance of period (in shares) at Sep. 28, 2025		262,688
Balance, end of period at Sep. 28, 2025	3,555,677	$ 2,627	$ (544,687)	2,013,830	2,157,530	(87,366)	13,743
Treasury stock, end of period (in shares) at Sep. 28, 2025			(25,142)
Common stock, beginning balance (in shares) at Jun. 29, 2025		262,521
Balance, beginning of period at Jun. 29, 2025	3,752,536	$ 2,625	$ (544,687)	2,008,442	2,313,567	(42,200)	14,789
Treasury stock, beginning of period (in shares) at Jun. 29, 2025			(25,142)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343,061				342,813		248
Other comprehensive income (loss), net of tax	(45,166)					(45,166)
Stock-based compensation plans:
Common stock issued under compensation plans (in shares)		167
Common stock issued under compensation plans		$ 2		(2)
Requisite service period recognition	5,390			5,390
Special cash dividend	(498,850)				(498,850)
Purchase of noncontrolling interest	(1,294)						(1,294)
Common stock, ending balance of period (in shares) at Sep. 28, 2025		262,688
Balance, end of period at Sep. 28, 2025	3,555,677	$ 2,627	$ (544,687)	2,013,830	2,157,530	(87,366)	13,743
Treasury stock, end of period (in shares) at Sep. 28, 2025			(25,142)
Common stock, beginning balance (in shares) at Dec. 28, 2025		262,688
Balance, beginning of period at Dec. 28, 2025	3,693,731	$ 2,627	$ (544,687)	2,023,609	2,245,523	(47,022)	13,681
Treasury stock, beginning of period (in shares) at Dec. 28, 2025			(25,142)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	230,987				232,406		(1,419)
Other comprehensive income (loss), net of tax	(53,821)					(53,821)
Stock-based compensation plans:
Common stock issued under compensation plans (in shares)		565
Common stock issued under compensation plans	0	$ 6		(6)
Requisite service period recognition	16,983			16,983
Common stock, ending balance of period (in shares) at Sep. 27, 2026		263,253
Balance, end of period at Sep. 27, 2026	3,887,880	$ 2,633	$ (544,687)	2,040,586	2,477,929	(100,843)	12,262
Treasury stock, end of period (in shares) at Sep. 27, 2026			(25,142)
Common stock, beginning balance (in shares) at Jun. 28, 2026		263,062
Balance, beginning of period at Jun. 28, 2026	3,763,398	$ 2,631	$ (544,687)	2,034,816	2,360,323	(103,236)	13,551
Treasury stock, beginning of period (in shares) at Jun. 28, 2026			(25,142)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	116,317				117,606		(1,289)
Other comprehensive income (loss), net of tax	2,393					2,393
Stock-based compensation plans:
Common stock issued under compensation plans (in shares)		191
Common stock issued under compensation plans	0	$ 2		(2)
Requisite service period recognition	5,772			5,772
Common stock, ending balance of period (in shares) at Sep. 27, 2026		263,253
Balance, end of period at Sep. 27, 2026	$ 3,887,880	$ 2,633	$ (544,687)	$ 2,040,586	$ 2,477,929	$ (100,843)	$ 12,262
Treasury stock, end of period (in shares) at Sep. 27, 2026			(25,142)

DEBT

9 Months Ended

Sep. 27, 2026

Debt Disclosure [Abstract]

DEBT

Long-term debt and other borrowing arrangements, including current notes payable to banks, consisted of the

following components:


	Maturity	September 27, 2026		December 28, 2025
		(In thousands)
Euro Senior notes payable, net of discount, at 4.75%	2034	$	568,788	$	—
Senior notes payable, net of discount, at 6.875%	2034	492,942		492,251
Senior notes payable, net of discount, at 6.25%	2033	669,456		917,852
Senior notes payable, net of discount, at 3.50%	2032	889,592		899,600
Senior notes payable, net of discount, at 4.25%	2031	792,541		791,946
U.S. Credit Facility (defined below) at SOFR plus 1.35%	2028	—		—
Europe Credit Facility (defined below) with notes payable at SONIA plus 1.00%	2031	—		—
Mexico BBVA Credit Facility (defined below) with notes payable at TIIE plus 1.35%	2028	—		—
Mexico Bajio Credit Facility (defined below) with notes payable at TIIE plus 1.41%	2030	—		—
Live Oak CHP Project PACE Loan 5.15%	2053	20,276		19,163
Finance lease obligations	Various	959		1,389
Long-term debt		3,434,555		3,122,201
Less: Current maturities of long-term debt		(911)		(924)
Long-term debt, less current maturities		3,433,644		3,121,277
Less: Capitalized financing costs		(28,938)		(28,164)
Long-term debt, less current maturities, net of capitalized financing costs		$	3,404,706	$	3,093,113

The future minimum principal payments due in each of the next five fiscal years as of September 27, 2026, related to the Live Oak CHP Project PACE Loan, are $0.3 million.

Debt Repurchases and Extinguishments

In the nine months ended September 27, 2026, the Company repurchased $250.0 million of outstanding principal of the Senior Notes due 2033 through a tender offer and $10.0 million of outstanding principal of the Senior Notes due 2032 through open market repurchases, resulting in $12.9 million gross realized losses recognized. The gross realized losses on early extinguishment of debt are recognized in interest expense. The original discount and capitalized financing costs associated with the amounts repurchased are immaterial and are combined with the gross losses on early extinguishment of debt, along with a nominal amount of transaction fees.

4.75% Euro Senior Notes due 2034

On September 23, 2026, the Company completed a sale of €500.0 million aggregate principal amount of its 4.75% unsecured, unregistered senior notes due 2034. The proceeds of which will be used for general corporate purposes, including to fund the consideration in connection with the acquisition of Walkers and to pay related costs and expenses. The issuance price of this offering was 99.866%, which created gross proceeds of €499.3 million before transaction costs. The €0.7 million discount will be amortized over the remaining life of the notes. The notes bear interest at a rate of 4.75% per annum from the date of issuance until maturity, payable annually in January, commencing January 23, 2027. The outstanding principal amount of the euro-denominated notes, translated into U.S. dollars using period-end exchange rates, are reflected in the table above.

Credit Facilities

The following table presents the key terms of our available credit facilities:

Facility

Limit

Maturity

Rate Basis

Availability (USD)

U.S. Credit Facility(a)

USD

850.0

million

2028

SOFR + 1.35%

846.2

million

Europe Credit Facility

GBP

150.0

million

2031

SONIA + 1.00%

198.7

million

Mexico BBVA Credit Facility

MXN

1.3

billion

2028

TIIE +1.35%

72.1

million

Mexico Bajio Credit Facility

MXN

1.5

billion

2030

TIIE +1.41%

84.8

million

1,201.8

million

(a)Availability under the U.S. Credit Facility may be reduced by outstanding letters of credit.

Europe Credit Facilities

On June 26, 2026, Pilgrim’s Europe entered into a £150.0 million multicurrency revolving credit facility that matures in June 2031. Concurrently, Pilgrim’s Europe terminated its previously existing revolving credit facility dated June 24, 2022. The new facility may be used for general corporate purposes, working capital requirements and permitted acquisitions. Borrowings bear interest at applicable reference rates plus a leverage-based margin.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

FAIR VALUE MEASUREMENT - Schedule of Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 27, 2026	Dec. 28, 2025
Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 160,568	$ 520,899
Fixed income securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	160,568	520,899
Fixed income securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Commodity derivative assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	17,323	9,509
Derivative liabilities	(8,249)	(1,343)
Commodity derivative assets \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	17,323	9,509
Derivative liabilities	(8,249)	(1,343)
Commodity derivative assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Foreign currency derivative assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,660	95
Derivative liabilities	(138)	(205)
Foreign currency derivative assets \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,660	95
Derivative liabilities	(138)	(205)
Foreign currency derivative assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Sales contract derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(4,826)	(2,638)
Sales contract derivative liabilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	0
Sales contract derivative liabilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ (4,826)	$ (2,638)

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

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+ Details

DEBT - Schedule of Long-term Debt and Other Borrowing Arrangements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2026	Sep. 23, 2026	Dec. 28, 2025
Debt Instrument [Line Items]
Finance lease obligations	$ 959		$ 1,389
Long-term debt	3,434,555		3,122,201
Less: Current maturities of long-term debt	(911)		(924)
Long-term debt, less current maturities	3,433,644		3,121,277
Less: Capitalized financing costs	(28,938)		(28,164)
Long-term debt, less current maturities, net of capitalized financing costs	3,404,706		3,093,113
Euro Senior notes payable, net of discount, at 4.75% \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate		4.75%
Long-term debt	$ 568,788		0
Senior notes payable, net of discount, at 6.875% \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.875%
Long-term debt	$ 492,942		492,251
Senior notes payable, net of discount, at 6.25% \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.25%
Long-term debt	$ 669,456		$ 917,852
Senior notes payable, net of discount, at 3.50% \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	3.50%		3.50%
Long-term debt	$ 889,592		$ 899,600
Senior notes payable, net of discount, at 4.25% \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.25%	4.25%	4.25%
Long-term debt		$ 792,541	$ 791,946
U.S. Credit Facility (defined below) at SOFR plus 1.35% \| Line of Credit \| SOFR
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.35%
Long-term debt	$ 0		0
Europe Credit Facility (defined below) with notes payable at SONIA plus 1.00% \| Line of Credit \| SONIA Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.00%
Long-term debt	$ 0		0
Mexico BBVA Credit Facility (defined below) with notes payable at TIIE plus 1.35% \| Line of Credit \| TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.35%
Long-term debt	$ 0		0
Mexico BBVA Credit Facility (defined below) with notes payable at TIIE plus 1.35% \| Line of Credit \| Line of Credit \| TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.35%
Mexico Bajio Credit Facility (defined below) with notes payable at TIIE plus 1.41% \| Line of Credit \| TIIE Rate
Debt Instrument [Line Items]
Long-term debt	$ 0		0
Mexico Bajio Credit Facility (defined below) with notes payable at TIIE plus 1.41% \| Line of Credit \| Line of Credit \| TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)	1.41%
Live Oak CHP Project PACE Loan 5.15%
Debt Instrument [Line Items]
Long-term debt	$ 20,276		$ 19,163
Live Oak CHP Project PACE Loan 5.15% \| Line of Credit
Debt Instrument [Line Items]
Stated interest rate	5.15%
Live Oak CHP Project PACE Loan 5.15% \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.15%		5.15%