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. Shares are up 4.69%.
Pilgrim’s Pride Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 174.07% to $0.74 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Rose 10.62% to $2.18 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pilgrim’s Pride Corporation reported adjusted EPS income of $0.74 per share. By that measure, the company beat the mean analyst estimate of $0.57. It beat the average revenue estimate of $2.18 billion.
Quoting Management: “Our second quarter results continue to validate our strategy. Our focus on our key customers and ability to adapt to changing market conditions has helped us gain significant business in strategic channels to improve our sales mix, enabling us to take advantage of strong industry fundamentals. We continue to reap the benefits of operational excellence in areas of yield improvements and plant cost and efficiency gains, all of which contributed to our positive results, while our export and Mexico business continue to operate more favorably,” stated Bill Lovette, Pilgrim’s Chief Executive Officer.
Key Stats (on next page)…
EPS increased 252.38% from $0.21 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 $0.38 to a profit $0.53. For the current year, the average estimate has moved up from a profit of $1.17 to a profit of $1.83 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)