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Pilgrim’s Pride Corporation (NASDAQ: PPC)Financial Results for Fourth Quarter and Year Ended December 25, 2022
Pilgrim’s Pride Corporation
(NASDAQ: PPC)Financial Results for Fourth Quarter and Year Ended
December 25, 2022Cautionary Notes and Forward -Looking Statements
◼Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or p redictions of the future of Pilgrim’s Pride
Corporation and its management are considered forward -looking statements. Without limiting the foregoing, words such as “anticip ates,” “believes,” “estimates,”
“expects,” “intends,” “may,” “plans,” “projects,” “should,” “targets,” “will” and the negative thereof and similar words and expressions are intended to identify
forward -looking statements. It is important to note that actual results could differ materially from those projected in such for ward -looking statements. Factors that
could cause actual results to differ materially from those projected in such forward -looking statements include: the impact of t he COVID -19 pandemic, efforts to
contain the pandemic and resulting economic downturn on our operations and financial condition, including the risk that our h ealth and safety measures at
Pilgrim’s Pride production facilities will not be effective, the risk that we may be unable to prevent the infection of our e mployees at these facilities, and the risk
that we may need to temporarily close one or more of our production facilities; the risk that we may experience decreased pro duction and sales due to the
changing demand for food products; the risk that we may face a significant increase in delayed payments from our customers; a nd additional risks related to
COVID -19 set forth in our most recent Form 10 -K and Form 10 -Q filed with the SEC; matters affecting the poultry industry general ly; the ability to execute the
Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Compan y’sproducts; outbreaks of avian
influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products;
contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks
related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expen sive, limited and potentially
inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting
Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in conn ection with existing immigration
legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does busi ness, or otherwise disrupt its
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