$8M Loss for One Company from One Hurricane

An $8M loss for one company from one hurricane. That is the reality now being reported by Pilgrim’s Pride, an American, multi-national food company who is one of the world’s largest poultry producers.

AgricultureDive.com reports (https://tinyurl.com/279naebd) that facilities belonging to the company and poultry growers near Live Oak, Florida and Douglas, Georgia were part of Hurricane Helene’s devastation. Devastation that, it its totality adds up to an estimated $8.5 billion dollars in damages.

According to Pilgrim CEO Fabio Sandri, many chicken houses were totally destroyed. That was true not only for the company but for numerous producers in the industry. While Pilgrims was able to shift production to other locations to avoid disruptions for their customers, many farmers found themselves without electricity for days and with serious damages to infrastructure.

The company is contributing financially to the area impacted as well as calling on government for grower support. In their just-released third quarter 2024 financials, Pilgrim’s Pride Corporations reports net sales of $4.6 billion. They report that, in the U.S., the relative affordability and availability of chicken drove increased demand across retail and food service.