QUARTERLY RESULTS (UNAUDITED)



2018	First ^(a)		Second^(b)		Third^(c)		Fourth^(d)			Year
	(In thousands, except per share data)
Net sales	$	2,746,678	$	2,836,713	$	2,697,604	$	2,656,789		$	10,937,784
Gross profit	287,665		274,222		169,741		111,848			843,476
Net income (loss) attributable to PPC common stockholders	119,418		106,541		29,310		(7,324		)	247,945
Net income per share amounts - basic	0.48		0.43		0.12		(0.03		)	1.00
Net income per share amounts - diluted	0.48		0.43		0.12		(0.03		)	1.00
Number of days in period	91		91		91		91			364



2017	First^(e)		Second^(f)		Third^(g)		Fourth^(h)		Year
	(In thousands, except per share data)
Net sales	$	2,479,340	$	2,752,286	$	2,793,885	$	2,742,352	$	10,767,863
Gross profit	256,388		474,838		478,584		261,804		1,471,614
Net income attributable to PPC common stockholders	93,921		233,641		232,680		134,337		694,579
Net income per share amounts - basic	0.38		0.94		0.94		0.54		2.79
Net income per share amounts - diluted	0.38		0.94		0.93		0.54		2.79
Number of days in period	91		91		91		98		371



2016	First		Second		Third		Fourth⁽ⁱ⁾		Year
	(In thousands, except per share data)
Net sales	$	2,460,410	$	2,551,990	$	2,495,281	$	2,370,883	$	9,878,564
Gross profit	284,257		337,796		253,060		228,870		1,103,983
Net income attributable to PPC common stockholders	118,371		152,886		98,657		70,618		440,532
Net income per share amounts - basic	0.46		0.60		0.39		0.29		1.74
Net income per share amounts - diluted	0.46		0.60		0.39		0.28		1.73
Number of days in period	91		91		91		91		364


(a)	In the first quarter of 2018, the Company recognized impairment charges of approximately $0.5 million related to the Luverne, Minnesota plant held for sale. Also in the first quarter of 2018, the Company had transaction costs of approximately $0.2 million related to the acquisition of Moy Park and GNP.


(b)	In the second quarter of 2018, the Company recognized impairment charges of approximately $0.1 million related to its 40 North Foods leasehold improvements.


(c)	In the third quarter of 2018, the Company recognized impairment charges of approximately $0.3 million related to the Luverne, Minnesota plant held for sale.

(d)

In the fourth quarter of 2018, the Company recognized impairment charges of approximately $2.6 million related to Rose Energy Ltd. within its U.K. and Europe segment. Also in the fourth quarter of 2018, the Company recognized nonrecurring charges of $3.0 million and $11.9 million related to Hurricane Michael and Hurricane Maria, respectively. Hurricane Michael hit the Company’s Live Oak complex in October 2018, causing two days of plant closure. Hurricane Maria hit the Company’s Puerto Rico complex in September 2017, causing six months of plant closure.


(e)	On January 6, 2017, the Company acquired 100% of the membership interests of GNP from Maschhoff Family Foods, LLC for a cash purchase price of $350 million. In the first quarter, the Company had transaction costs of approximately $0.6 million for the acquisition of GNP.


(f)	In the second quarter of 2017, the Company recognized impairment charges of approximately $3.5 million related to its Athens, Alabama plant held for sale.


(g)	In the third quarter of 2017, the Company had transaction costs of approximately $15.0 million for the acquisition of Moy Park.


(h)	In the fourth quarter of 2017, the Company had transaction costs of approximately $4.5 million for the acquisition of Moy Park.


(i)	In the fourth quarter of 2016, the Company recognized impairment charges of $0.8 million and $0.3 million related to its Dallas, Texas and Bossier City, Louisiana plants held for sale.