you morning, thank everyone, for Good Andy. and us you, joining Thank today.
EBITDA third margin. a $XXX to net of million, X.X% the revenues $X.X billion, For of of with adjusted XXXX, quarter reported we translating
key partnerships Nonetheless, we fundamentals market strategies and Throughout inflation. operational remain consumer of very excellence. the our quarter, volatile experienced persistent we focused customer on diversification, and
growth execution, excellence to in the Where case-ready Big across operational improved Birds. our Bird. in we regions. significant and efforts customer key prior consistent efficiencies improved In quarters partnerships performance strong Small relative drove our in Given U.S., our all margins our
products ] [ diversify compared quarters. retailers and branded our improved service this growth profitability U.S. portfolio prepared offerings the in food to our fresh culminated with leading efforts, both previous given on and continue further to its We Based providers.
U.K. further we presence and and key in products long-term for diversify secure supply As drove our and through Europe, with arrangements our additional branded new launched further back customers the excellence. marketplace network recently manufacturing through office efficiencies innovation operational and
for As foundations we reinforced our profitable a result, have growth.
we demand currency third Mexico, and and quarter, live improvements favorability supply and strong experienced a given in fundamentals. operations, feed in balanced In inputs
of period trends. U.S. last efficiencies operational remain the production relative experienced and of seasonal offerings to to headcounts, efforts estimates in along primarily branded drive with X.X% industry by expand through changes excellence and production diversification same prepared and decrease the on continue capacities given our XXXX, Our a marketplace to track.
In ready-to-cook gain traction, quarter influenced fewer USDA typical of year. more chicken third
September reduction continue with broiler with the availability. XXXX The beef the in the the last to calendar This for the most future. that restrained storage to of and XXXX. for and June supply, prior year recent June of storage USDA availability supply below and contracting our the chicks view near reflects are suggesting industry relative XXXX scenario in remainder year, slow domestic FDA supply reported the paired supply sets relative Concerning QX reduce more levels a the growing a end Meat Dark protein, to to placements below have line USDA expects egg in remains indicates cold declined of of outlook pork levels, Breast Meat of inventories cold overall year.
Considering and indicate slight protein inventories last continues trend XXXX. a
availability, across and activities. volume We uncertainty, and momentum pork department promotional quarter balanced Fresh category beef we're competing front back With growth over chicken increased retail the was and more in on affordability and quarter. channel Domestic of economic half XXXX. historical flexibility. in and providing than promotional expected contributed to cuts, of competing seeing growth improved for significantly given current third inflation both protein coming finally remain departments.
The potential its has chicken prices across volumes half the higher and sales average in meat activity supplies, all supported continued, demand the The increasing more volume advantaged food by availability, this lower positive may relative normal be volumes consistent
foodservice sales, both retail volume Meanwhile, in volume category, department are an channel, already seeing commodity and demand Deli of in department both growth the and the distribution units Elsewhere value-added Frozen experienced now the unit added and segments. Prepared from improved has number as volume also chicken the the sales in we and has dollar incremental purchasing has increase steadily increased. volume grown added has operators frozen operators with have Commercial sales sales.
In and chicken velocity. those the
increased this year reflective a prices balanced and volume half record relatively across The subchannel of cuts. QX retail, was at albeit noncommercial of last year. prices to lower Similar the of volumes, to half distribution growth cuts front more back compared
to as now commodity inputs be normal grain, result considering a a of to elevated recently QX Nonetheless, level, during seasonal August XXXX. from reverted lift appears the tenders industry's and historical especially which we supply costs not the to sustainable prepandemic other chicken demand prices September, pricing enter patterns cut on and the experienced the wholesale and levels. during volume As is and labor relative to sales of leverage, close meat improving quarter, are balance have out retail balanced pricing improving and service and price food and pricing.
Commodity a to supply providing breast for improvements
poultry-producing with among QX states. export mainly influenza solid demand down ongoing X.X% was [ where stable XX% of China, for sales On and year-over-year the to and by ], eligibility was broiler. reduction driven exports, mainly U.S. The high-path remarkably limited due exports on were relative for avian
demand that impact, influenza Excluding the towards year-over-year, and September U.S. flock avian up path commercial U.S. exists been turkey High X.X% products globally. have will this emerging beginning good October. of exports of for a end strong indication
far first the mid-April since from broiler the does occur states, and it deductions vigilance were producing industry. these Although throughout increase major
Driven business commercial trading of to their for cold disruption outpace a XX% material to have As have X-year Other year-over-year states a do in commercial average. volume trade of have September. current ago event end reduction restrictions exports Based channel, of expect or as in outbreak. in an inventories our inventories at last we quarter year year, to and a in dark the quarter, most by last to trajectory, XX% continue our the partners meat below on demand our in to relatively previous storage potentially the the and trade we the maintained and of trended strong We're the pricing impact destination HPAI break exists with portfolios. reflect U.S. adjusted see than implications, fourth typical of further client as our expected expect diversify meat country zones China, event market already of in for below broilers.
Consistent exporting U.S. sales not combined quarter. the supporting base an dark we than growth healthy
the a Harvest large an at U.S. recovery is billion increase currently are corn feed is Production over forecasted year. historically for 'XX, to of despite stocks bushels, to acreage XX% bushels ending the yields, stocks ingredients. contributed forecast billion crop has Ending in and largest the the below-trend at making U.S. corn in year-over-year. XX progressing crop X.X XXXX. just 'XX since Turning
million returns sell The a 'XX XX certainly priced. levels Brazilian are large after crop favorable after prior American competitively to 'XX, corn normal comes is for to U.S. forecasted Global production assuming a weather South production metric weak year. Argentina's stocks record remarkably still that and ending tons,
of larger like and should pressure be supplied, improvements, resulting markets, weather demand historical could estimated be limited for crush boosting global remained growth. in stage, production both assuming in expected South the expansion, low is price U.S. soybean continued nearly be and stocks. last Brazil well arise. X% U.S. in realizing U.S. record be Argentina a realized. soybean Though given are acreage forecast corn, As reduced soy crop planting another year-over-year, soybeans, year Brazil for rebound yield supply, market American meal the creating Argentina's to competitive in only key less will Further a industry crop to export production. crops ending Nonetheless, year-over-year in lower in year's is because with
Although and diversification production soybean growth or import inflows of can be The heavily influenced supply should in by few and a balance inflows policies. demand.
and should Russia reduced, have from estimates Black unfavorable and continue monitored. without year slightly Argentina tons but exports metric growing record Turning year, drop fall from to wheat. to by U.S., from by In currently with a forecast crop. X Global is X.X whereas given production last be million tons production conditions. an Russia's agreement largely between Australia metric Sea million Ukraine, driven been increased last
Our persistent very inflation. in U.S. along Bird segment, business continued to market fundamentals volatile navigate with Big consumer
operational sizes bird and cultivation and to mitigated enhance team across we in continue prolonged focus maintain portfolio points the excellence key this manufacturing our further and action challenges excellence diversified Bird, customer Big drive locations. Our our operational partnerships.
Within to of intense
remains [indiscernible]. margin enhanced production aided consistently the the improvements still by were quarter, levels. to in sustainable efforts we quarter, efficiencies, achieved at realize work and operations the both These During live but other during market also fundamentals
In case activity the promotional partnerships. increase improvement team We volumes Ready, in customer improved to mix. keep additional our and distribution,
high performance QSRs, operational our Idalia southeastern significant and team disruptions United customers important, levels differentiated operational excellence. the maintained its Bird further robust attribute despite stable that strong driving and excellence demand diversify in States.
Equally traffic Small quality remains given differentiation to pipeline, with key from sales we customers. addition, the both we In key helps and effort our sustained Hurricane service from daily in
quality levels, throughout across quarter foodservice. Given beyond the and secured their and team consistent business additional and retail the service
momentum innovation.
In and efforts teams. branded XX% year. collectively offerings. foods prepared reinvigorated to through schools activities and play grew offerings realized Just commerce our commercial our increased to portfolio Pilgrim's Digitally to team retail, growth for role the as compared continue diversify BARE distribution, distributors, last through chains expansion the promotional prepare and our team sales with a gain on Within growth to targeted significant branded continue foodservice, influenced fully further to Our cooked
XX% Our investments acquisition effectiveness their key and rates and sales year. consumer partnerships past costs increased as are fallen demonstrated click-through industry the over have double standards customer important, off.
Equally nearly digital have media
offerings. impact, with business through but selected retailers also focused customer key retailers product the leading the with targeted partnership secured The business trended its through offerings. strategies.
To differentiated and promotional our efficient Similar shopper on activities offerings. capabilities of and remains well-received environment supply an long-term further and with increase look portfolio exceptionally partnership consumer fundamentals to our the European relative through through U.K. mitigate Improved our forward branded affordability the Given experienced trade business inflation. the to chicken help U.S., continued we pork and this team diversify to and customer-specific team end, reaction, foodservice that providers additional chain
through Our which as over Fridge category. progress gained XXX diversification both branded key items, many launched and of quarter.
Innovation fresh throughout continue the are continues to Raiders brands play also Richmond share meals as role products to our reinvent the to designed a we
Our new we launch and product is development for the awards trade performance throughout receive increasingly as recognized becoming multiple execution.
diversification drive made date, to operational continue manufacturing excellence of To optimization progress back-office the our efforts. customer We significant focus activities. and network we've and in key through support
additional throughout explore to increase we'll production aspirations. growth opportunities forward, our drive efficiencies to footprint scale our and meet Moving
monitor inflation support will confidence and various resumed is also indicators. ahead economic closely growth of in has to We now Wage continue trajectory. consumer
foodservice. factors, up within be pursue or willing to increase protein consumption, Based in eating trade consumers away-from-home retail, on may opportunities these
channels portfolio and our our and diversified across capabilities, and accelerate presence to our position growth. these key Given trends operational to customer adjust where
Prepared fundamentals to and and BARE offerings experienced and through double traction continue diversification region. brand to favorability currency third exceptionally grew the important, well given gain The marketplace. the in year, business received retailers QSRs. customer growth leading business alike.
In through with our in Pilgrim's more Foods, the among its live the balanced efforts improvements launch quarter, Turning performance grain whereas operation, digits has recent compared our Equally to branded consumers Just The last been key supply strong in retailers demand a and and focus, continued Mexico. strengthening given
branded Taste presence support through of and Favoritos and Moving further Just BARE cultivate forward, additional introduction offering. we'll Unique a fresh for the our marketing the
our continue excellence. commitment operational to profitable We growth continued driving through investment and
Merida to of to proud progress sustainability as according completed in geographical increasing should highlight the to progress. have continued to biosecurity also in and it planned, enhance leader schedule.
We're expansion in operations, be environment, report our September to our become on and production our a matters. diversification published our for projects to ], first completed have live quarter of XXXX social our expect progress initiate governance the and in our Also, the journey [ region our We
Scope members' significant by XXXX as X Nations fell XX% team made Development by Global emissions Index progress United since and intensity Goals and our have our We against Safety the XX%. improved Sustainability X greenhouse
we invest communities members to hometown higher funded in tuition education team million we in strong which continue provided their XXX through the have projects program. $XX We through our fee initiatives, families of and in serve found over our as future members or better we for
