Argos Alani's questions to Pilgrims Pride Corp (PPC) leadership • Q3 2024
Question
Argos Alani followed up on capital allocation, asking how the company views its low net leverage and what the current M&A landscape looks like, particularly in Mexico.
Answer
CFO Matthew Galvanoni reiterated that the company's primary use of cash is to fund growth. This includes organic projects to support key customers and prepared foods, as well as both organic and inorganic growth opportunities in Mexico. He explained that the current lower-than-forecasted CapEx spend is a matter of timing due to the company's disciplined and detailed project approval process.