Pilgrim's Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:
Our Statistical Management Discussion and Analysis data is derived from our financial statements and
internal reports. Historical results should not be taken as necessarily indicative of the results that may
be expected for any future period. You should read this financial data in conjunction with the appropriate
period financial statements and the related notes and "Management's Discussion and Analysis of Results of
Operations and Financial Condition" included in our SEC filings.
Quarters Ended
12/28/02 09/28/02 06/29/02 03/30/02 12/29/01 09/29/01 06/30/01 03/31/01 12/30/00
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United States
Chicken Operations:
U.S. Chicken
Sales (000's) $390,034 $417,387 $427,325 $398,608 $405,738 $427,191 $422,985 $356,341 $265,824
U.S. Chicken
Sales divided
by U.S.Chicken
Net Pounds
Produced $0.6617 $0.6883 $0.6934 $0.6872 $0.7075 $0.7470 $0.7232 $0.7096 $0.7221
U.S. Chicken
Net Pounds
Produced (000's) 589,433 606,383 616,274 580,037 573,464 571,867 584,896 502,173 368,143
Other Operations:
Other Sales(000's) 48,523 52,846 48,330 49,543 42,972 45,843 45,719 46,568 41,725
U.S. Chicken Sales & Other Sales Totals:
U.S. Chicken Sales &
Other Sales(000's)438,557 470,233 475,655 448,151 448,710 473,034 468,704 402,909 307,552
U.S. Chicken & Other Operating
Income (000's) 6,052 4,507 15,100 3,701 9,355 27,700 27,971 1,795 20,631
U.S. Chicken & Other Operating Income as a
percent of U.S. Chicken & Other
Sales 1.38% 0.96% 3.17% 0.83% 2.08% 5.86% 5.97% 0.45% 6.71%
Mexico Chicken Operations:
Mexico Chicken
Sales (000's)(c) 88,092 81,260 80,308 75,674 86,528 76,054 84,078 70,447 72,853
Mexico Chicken Sales divided
by Mexico Chicken Net Pounds
Produced $0.5898 $0.5984 $0.6177 $0.5820 $0.5812 $0.5455 $0.6411 $0.5039 $0.5222
Mexico Other Operations:
Mexico Other
Sales (000's) (c) 6,377 5,494 4,498 4,702 4,388 3,548 5,674 5,397 5,627
Mexico Chicken
Operating
Income (000's) 6,214 3,276 5,830 (514) 8,471 1,011 13,767 (5,201) 2,580
Mexico Operating Income
as a percent of Mexico
Chicken Sales 6.58% 3.78% 6.88% -0.64% 9.32% 1.27% 15.34% -6.86% 3.29%
Mexico Net Pounds
Produced (000's) 149,356 135,789 130,011 130,027 148,876 139,415 131,152 139,799 139,510
Turkey
U.S. Turkey Sales
(000's) 94,379 82,832 76,656 72,226 116,404 88,615 87,380 62,840 -
U.S. Turkey Sales divided
by U.S. Turkey Net Pounds
Produced $0.9047 $0.8353 $0.7304 $0.6222 $1.0311 $0.7896 $0.7875 $0.8282 -
U.S. Turkey Operating
Income (000's) (1,925) (10,883) (6,884) (7,559) 5,503 2,406 3,750 (1,867) -
U.S. Turkey Operating
Income as a percent of U.S.
Turkey Sales -2.04% -13.14% -8.98% -10.47% 4.73% 2.72% 4.29% -2.97% -
U.S. Turkey Net Pounds
Produced (000's) 104,321 99,165 104,946 116,074 112,896 112,233 110,958 75,879 -
U.S. Summary
U.S. Sales (000's) 532,936 553,065 552,311 520,377 565,114 561,649 556,084 465,749 307,552
U.S. Cost of
Sales (000's) 502,796 531,295 516,978 497,296 522,513 507,112 499,916 436,038 268,120
U.S. Gross
Margin (000's) 30,140 21,770 35,333 23,081 42,601 54,537 56,168 29,711 39,432
U.S. Gross Margin as a
percent of U.S.
Sales 5.66% 3.94% 6.40% 4.44% 7.54% 9.71% 10.10% 6.38% 12.82%
U.S. Selling, General and
Administrative Expenses
(000's) 26,013 28,146 27,117 26,939 27,743 24,431 24,448 29,783 18,801
U.S. Selling, General and
Administrative Expenses as a
percent of U.S
Sales 4.88% 5.09% 4.91% 5.18% 4.91% 4.35% 4.40% 6.39% 6.11%
U.S. Operating
Income (000's) 4,127 (6,376) 8,216 (3,858) 14,858 30,106 31,720 (72) 20,631
U.S. Operating Income as a
percent of U.S.
Sales 0.77% -1.15% 1.49% -0.74% 2.63% 5.36% 5.70% -0.02% 6.71%
Consolidated Operations
Chicken Operations:
Chicken Sales from all
Divisions
(000's)(c) 478,126 498,647 507,632 474,282 492,266 503,245 507,063 426,788 338,677
Chicken Sales from all
divisions divided by Chicken
Net Pounds Produced from
all Divisions $0.6472 $0.6719 $0.6802 $0.6679 $0.6815 $0.7075 $0.7081 $0.6648 $0.6671
Chicken Net Pounds Produced
from all Divisions
(000's) 738,789 742,172 746,285 710,064 722,340 711,282 716,048 641,972 507,653
Other Operations:
Other Sales
(000's)(c) 54,900 58,340 52,828 54,245 47,360 49,391 51,393 51,965 47,352
Totals All Operations:
Total Net Sales
(000's) 627,405 639,819 637,116 600,753 656,030 641,251 645,836 541,593 386,032
Total Cost of
Sales (000's) 585,019 608,148 590,116 572,122 598,166 579,307 570,211 512,377 338,866
Gross Margin from all
operations
(000's) 42,386 31,671 47,000 28,631 57,864 61,944 75,625 29,216 47,166
Gross Margin from all
operations as a percent of
Total Net Sales 6.76% 4.95% 7.38% 4.77% 8.82% 9.66% 11.71% 5.39% 12.22%
Total Selling, General and Administrative
Expenses (000's) 32,045 34,771 32,954 33,003 34,535 30,827 30,138 34,488 23,955
Total Selling, General and Administrative
Expenses as a percent of Total
Net Sales 5.11% 5.43% 5.17% 5.49% 5.26% 4.81% 4.67% 6.37% 6.21%
Operating Income from all
operations(000's) 10,341 (3,100) 14,046 (4,372) 23,329 31,117 45,487 (5,272) 23,211
Operating Income from all
operations as a percent of
Total Net Sales 1.65% -0.48% 2.20% -0.73% 3.56% 4.85% 7.04% -0.97% 6.01%
(a) The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations
for this acquisition have been included in our consolidated results of operations since January 27,
2001, the acquisition date.
(b) 14 week Quarter.
(c) Certain items previously classified under Mexico have been reclassified under sale of other
products-Mexico. Amounts reclassified by
quarter were: $- $123 $- $- $- $7 $10 $10 $10
Quarters Ended
09/30/00 07/01/00 04/01/00 01/01/00 10/02/99 07/03/99 04/03/99 01/02/99(b)
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United States
Chicken Operations:
U.S. Chicken
Sales (000's) $263,549 $282,973 $253,687 $250,178 $249,181 $254,794 $236,673 $222,848
U.S. Chicken Sales divided
by U.S.Chicken Net Pounds
Produced $0.7173 $0.7187 $0.6624 $0.7140 $0.7220 $0.7317 $0.6953 $0.6517
U.S. Chicken Net Pounds
Produced (000's) 367,431 393,755 382,955 350,409 345,141 348,232 340,387 341,931
Other Operations:
Other Sales (000's) 36,706 27,940 42,843 34,201 32,151 26,461 36,690 44,105
U.S. Chicken Sales & Other Sales Totals:
U.S. Chicken Sales & Other
Sales (000's) 300,255 310,913 296,530 284,379 281,332 281,255 273,363 266,953
U.S. Chicken & Other Operating
Income (000's) 8,411 12,909 3,502 21,106 25,619 22,076 21,741 18,741
U.S. Chicken & Other Operating
Income as a percent of U.S. Chicken &
Other Sales 2.80% 4.15% 1.18% 7.42% 9.11% 7.85% 7.95% 7.02%
Mexico
Chicken Operations:
Mexico Chicken
Sales (000's)(c) 73,176 75,686 71,804 64,939 60,244 57,870 51,805 63,613
Mexico Chicken Sales divided
by Mexico Chicken Net Pounds
Produced $0.5634 $0.6585 $0.6309 $0.5141 $0.4746 $0.5505 $0.5290 $0.5022
Mexico Other Operations:
Mexico Other
Sales (000's)(c) 5,945 5,380 4,926 5,507 5,685 5,035 4,726 5,522
Mexico Chicken Operating
Income (000's) 7,225 13,439 9,779 4,116 3,195 7,136 3,551 7,445
Mexico Operating Income as a
percent of Mexico Chicken
Sales 9.13% 16.58% 12.74% 5.84% 4.85% 11.34% 6.28% 10.77%
Mexico Net Pounds
Produced (000's) 129,877 114,931 113,805 126,313 126,948 105,117 97,927 126,657
Turkey
U.S. Turkey
Sales (000's) - - - - - - - -
U.S. Turkey Sales divided
by U.S. Turkey Net Pounds
Produced - - - - - - - -
U.S. Turkey Operating
Income (000's) - - - - - - - -
U.S. Turkey Operating
Income as a percent of U.S.
Turkey Sales - - - - - - - -
U.S. Turkey Net Pounds
Produced (000's) - - - - - - - -
U.S. Summary
U.S. Sales (000's) 300,255 310,913 296,530 284,379 281,332 281,255 273,363 266,953
U.S. Cost of
Sales (000's) 273,604 282,676 276,987 247,149 242,313 243,018 234,533 234,667
U.S. Gross
Margin (000's) 26,651 28,237 19,543 37,230 39,019 38,236 38,830 32,287
U.S. Gross Margin as a
percent of
U.S. Sales 8.88% 9.08% 6.59% 13.09% 13.87% 13.59% 14.20% 12.09%
U.S. Selling, General and
Administrative Expenses
(000's) 18,240 15,328 16,041 16,124 13,399 16,160 17,089 13,545
U.S. Selling, General and
Administrative Expenses as a
percent of
U.S Sales 6.07% 4.93% 5.41% 5.67% 4.76% 5.75% 6.25% 5.07%
U.S. Operating
Income (000's) 8,411 12,909 3,502 21,106 25,619 22,076 21,741 18,741
U.S. Income as a
percent of U.S.
Sales 2.80% 4.15% 1.18% 7.42% 9.11% 7.85% 7.95% 7.02%
Consolidated Operations
Chicken Operations:
Chicken Sales from all
Divisions (000's) 336,725 358,659 325,491 315,117 309,425 312,664 288,478 286,461
Chicken Sales from all
divisions divided by
Chicken Net Pounds Produced
from all Divisions$0.6771 $0.7051 $0.6552 $0.6610 $0.6554 $0.6897 $0.6582 $0.6113
Chicken Net Pounds Produced
from all
Divisions (000's) 497,308 508,686 496,760 476,722 472,089 453,349 438,314 468,588
Other Operations:
Other Sales (000's) 42,651 33,320 47,769 39,708 37,836 31,496 41,416 49,627
Totals All Operations:
Total Net Sales
(000's) 379,375 391,979 373,260 354,825 347,261 344,160 329,894 336,088
Total Cost of
Sales (000's) 339,718 345,314 339,231 309,348 301,131 294,745 283,632 292,187
Gross Margin from all
operations (000's) 39,658 46,665 34,029 45,477 46,131 49,415 46,262 43,900
Gross Margin from all
operations as a percent of
Total Net Sales 10.45% 11.90% 9.12% 12.82% 13.28% 14.36% 14.02% 13.06%
Total Selling, General and
Administrative Expenses
(000's) 24,022 20,316 20,747 20,255 17,316 20,203 20,970 17,715
Total Selling, General and
Administrative Expenses as a
percent of Total
Net Sales 6.33% 5.18% 5.56% 5.71% 4.99% 5.87% 6.36% 5.27%
Operating Income from all
operations (000's) 15,636 26,349 13,282 25,222 28,814 29,212 25,292 26,186
Operating Income from all
operations as a percent of
Total Net Sales 4.12% 6.72% 3.56% 7.11% 8.30% 8.49% 7.67% 7.79%
(a) The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations
for this acquisition have been included in our consolidated results of operations since January 27,
2001, the acquisition date.
(b) 14 week Quarter.
(c) Certain items previously classified under Mexico have been reclassified under sale of other
products-Mexico. Amounts reclassified by quarter
were: $146 $132 $122 $135 $- $- $- $-
Quarters Ended
09/26/98 06/27/98 03/28/98 12/27/97 09/27/97 06/28/97 03/29/97 12/28/96
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United States
Chicken Operations:
U.S. Chicken
Sales (000's) $243,772 $228,719 $218,268 $218,634 $233,779 $227,111 $204,128 $193,147
U.S. Chicken Sales divided
by U.S.Chicken Net Pounds
Produced $0.7828 $0.7196 $0.6908 $0.6816 $0.7017 $0.6926 $0.7090 $0.7163
U.S. Chicken Net Pounds
Produced (000's) 311,428 317,849 315,948 320,773 333,184 327,928 287,915 269,655
Other Operations:
Other Sales (000's) 34,391 32,656 36,074 40,942 34,382 33,619 38,095 38,391
U.S. Chicken Sales & Other Sales Totals:
U.S. Chicken Sales & Other
Sales (000's) 278,163 261,375 254,342 259,576 268,161 260,730 242,223 231,538
U.S. Chicken & Other Operating
Income (000's) 22,266 8,434 3,104 2,473 10,300 4,622 4,031 10,369
U.S. Chicken & Other Operating
Income as a percent of U.S.
Chicken &
Other Sales 8.00% 3.23% 1.22% 0.95% 3.84% 1.77% 1.66% 4.48%
Mexico
Chicken Operations:
Mexico Chicken
Sales (000's)(c) 55,508 59,945 63,333 78,311 73,113 74,438 61,178 66,268
Mexico Chicken Sales divided
by Mexico Chicken Net
Pounds Produced $0.6025 $0.6491 $0.6253 $0.6803 $0.6612 $0.6916 $0.5959 $0.6538
Mexico Other Operations:
Mexico Other
Sales (000's) (c) 7,040 7,180 6,771 7,823
Mexico Chicken Operating
Income (000's) 9,178 10,608 8,294 12,898 14,993 8,005 5,630 5,945
Mexico Operating Income as a
percent of Mexico Chicken
Sales 14.67% 15.80% 11.83% 16.47% 20.51% 10.75% 9.20% 8.97%
Mexico Net Pounds Produced
(000's) 92,135 92,350 101,276 115,118 110,570 107,635 102,663 101,357
Turkey
U.S. Turkey
Sales (000's) - - - - - - - -
U.S. Turkey Sales divided
by U.S. Turkey Net Pounds
Produced - - - - - - - -
U.S. Turkey Operating
Income (000's) - - - - - - - -
U.S. Turkey Operating
Income as a percent of U.S.
Turkey Sales - - - - - - - -
U.S. Turkey Net Pounds
Produced (000's) - - - - - - - -
U.S. Summary
U.S. Sales (000's) 278,163 261,375 254,342 259,576 268,161 260,730 242,223 231,538
U.S. Cost of
Sales (000's) 244,055 241,956 239,915 246,985 253,014 244,820 227,462 210,213
U.S. Gross
Margin (000's) 34,108 19,419 14,427 12,591 15,147 15,910 14,761 21,325
U.S. Gross Margin as a
percent of
U.S. Sales 12.26% 7.43% 5.67% 4.85% 5.65% 6.10% 6.09% 9.21%
U.S. Selling, General and
Administrative Expenses
(000's) 11,842 10,985 11,323 10,118 4,847 11,288 10,730 10,956
U.S. Selling, General and
Administrative Expenses as a
percent of U.S
Sales 4.26% 4.20% 4.45% 3.90% 1.81% 4.33% 4.43% 4.73%
U.S. Operating Income
(000's) 22,266 8,434 3,104 2,473 10,300 4,622 4,031 10,369
U.S. Operating Income as a
percent of U.S.
Sales 8.00% 3.23% 1.22% 0.95% 3.84% 1.77% 1.66% 4.48%
Consolidated Operations
Chicken Operations:
Chicken Sales from all
Divisions (000's) 299,280 288,664 281,601 289,122 306,892 301,549 265,306 259,415
Chicken Sales from all
divisions divided by
Chicken Net Pounds
Produced from all
Divisions $0.7416 $0.7037 $0.6749 $0.6633 $0.6916 $0.6923 $0.6793 $0.6992
Chicken Net Pounds Produced
from all Divisions
(000's) 403,563 410,199 417,224 435,891 443,754 435,563 390,578 371,012
Other Operations:
Other Sales (000's) 41,431 39,836 42,845 48,765 34,382 33,619 38,095 38,391
Totals All Operations:
Total Net Sales
(000's) 340,711 328,500 324,446 337,887 341,274 335,168 303,401 297,806
Total Cost of
Sales (000's) 293,586 295,764 297,585 308,507 307,414 307,883 280,316 267,539
Gross Margin from all
operations (000's) 47,125 32,736 26,861 29,380 33,860 27,285 23,085 30,267
Gross Margin from all
operations as a percent
of Total Net Sales 13.83% 9.97% 8.28% 8.70% 9.92% 8.14% 7.61% 10.16%
Total Selling, General and
Administrative Expenses
(000's) 15,681 13,694 15,463 14,009 8,567 14,658 13,425 13,953
Total Selling, General and
Administrative Expenses as a
percent of Total
Net Sales 4.60% 4.17% 4.77% 4.15% 2.51% 4.37% 4.42% 4.69%
Operating Income from all
operations (000's) 31,444 19,042 11,398 15,371 25,293 12,627 9,660 16,314
Operating Income from all
operations as a percent of
Total Net Sales 9.23% 5.80% 3.51% 4.55% 7.41% 3.77% 3.18% 5.48%
(a) The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations
for this acquisition have been included in our consolidated results of operations since January 27,
2001, the acquisition date.
(b) 14 week Quarter.
(c) Certain items previously classified under Mexico have been reclassified under sale of other
products-Mexico. Amounts reclassified by quarter
were: $- $- $- $- $- $- $- $-