Pilgrim's Pride Boosts Views

The poultry processor says its third quarter went better than expected.
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Pilgrim's Pride

(PPC) - Get Report

boosted third-quarter earnings guidance Monday, citing stronger-than-expected results in the U.S. and Mexico.

Shares of the Pittsburg, Texas, poultry parts processor rose 8% in early trading.

The company said it now expects to post third-quarter earnings in the range of $1.17 to $1.22 a share. That's well above the 81 cents to $1 a share Pilgrim's Pride had previously forecast.

Analysts surveyed by Thomson First Call were calling for earnings of 93 cents a share, up from 75 cents last year.

The company maintained fourth-quarter earnings guidance of around 82 cents a share. The company said it would discuss the fourth quarter on July 25, when it will post third-quarter numbers.

Early Monday, Pilgrim's Pride rose $3.03 to $39.