During fourth-quarter 2010, the company reported net earnings of $41.8 million compared to $33.6 million in 2009. Net sales for the same quarter rose to $1.8 billion from $1.6 billion during the same period, last year.
On the quarterly performance, Bill Lovette, Pilgrim's CEO, said, "Customer demand improved in the fourth quarter, with Pilgrim's reporting higher volume in its retail and foodservice segments compared to a year ago. Pilgrim's reported double-digit volume increases in some areas of its foodservice business and the company has picked up additional retail business for 2011 from several of its largest customers."The stock underperformed in the last year, and analysts expect it to appreciate 19% in the next year. With buy ratings of 50%, the stock is trading at 12.5 times its estimated 2011 earnings.