Pilgrim's Pride Corp. said its normalized net income for the fiscal fourth quarter ended Dec. 27, 2015, came to 24 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.

EPS declined 64.2% year over year from 66 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $60.2 million, a decline of 64.8% from $170.8 million in the year-earlier period.

The normalized profit margin fell to 3.1% from 8.1% in the year-earlier period.

Total revenue decreased 7.1% on an annual basis to $1.96 billion from $2.11 billion, and total operating expenses climbed on an annual basis to $1.85 billion from $1.78 billion.

Reported net income decreased 61.0% on an annual basis to $64.8 million, or 25 cents per share, from $166.1 million, or 64 cents per share.

For the year, the company's normalized net income totaled $2.41 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.74.

EPS declined 9.4% from $2.66 in the prior year.

Normalized net income was $623.9 million, a decline of 9.7% from $690.6 million in the prior year.

Full-year total revenue fell from the prior-year period to $8.18 billion from $8.58 billion, and total operating expenses decreased on an annual basis to $7.13 billion from $7.38 billion.

The company said reported net income decreased 9.0% on an annual basis to $646.7 million, or $2.50 per share, in the full year, from $711.0 million, or $2.74 per share.