Pilgrim's Pride Corp. said its normalized net income for the fiscal first quarter ended March 29 amounted to 76 cents per share, compared with the S&P Capital IQ consensus estimate of 77 cents per share.
EPS rose year over year from 37 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $197.3 million, an increase from $94.9 million in the prior-year period.
The normalized profit margin increased to 9.6% from 4.7% in the year-earlier period.
Total revenue increased year over year to $2.05 billion from $2.02 billion, and total operating expenses fell 6.6% on an annual basis to $1.73 billion from $1.85 billion.
Reported net income rose from the prior-year period to $205.3 million, or 79 cents per share, from $98.6 million, or 38 cents per share.
