Pilgrim’s Pride Earnings: Everything You Must Know Now
Pilgrim’s Pride Corporation (NYSE:PPC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Pilgrim’s Pride Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10.53% to $0.21 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Rose 7.84% to $2.04 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pilgrim’s Pride Corporation reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.20. It beat the average revenue estimate of $2.02 billion.
Quoting Management: “Every quarter we see that our strategy and execution is working effectively. We delivered better results year over year despite $141 million of increased feed ingredient costs. By focusing on creating value with our key customers, we have diversified our product mix, honed our execution and are seeing our portfolio of business become a more profitable model,” stated Bill Lovette, Pilgrim’s Chief Executive Officer.
Key Stats (on next page)…
Revenue decreased 6.98% from $2.19 billion in the previous quarter. EPS increased 110% from $0.10 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.31 to a profit $0.33. For the current year, the average estimate has moved up from a profit of $0.84 to a profit of $1.10 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)