Stock Monitor: Central Garden & Pet Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 20, 2017 / Active-Investors free earnings report on Pilgrim's Pride Corp. (NASDAQ: PPC) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=PPC. The Company posted its financial results on November 07, 2017, for the third quarter of the fiscal year 2017. The food Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Earnings Highlights and Summary
For the three months ended September 24, 2017, Pilgrim's Pride's net revenues increased 12% to $2.79 billion from $2.50 billion in Q3 FY16. The Company's net revenue numbers surpassed analysts' expectations of $2.27 billion.
For the reported quarter, Pilgrim's Pride's gross profit increased 89.1% to $478.58 million from $253.06 million in Q3 FY16. For the reported quarter, the Company's gross margin increased 700 basis points to 17.1% of revenue from 10.1% of revenue in Q3 FY16.
For the reported quarter, Pilgrim's Pride's earnings before interest, tax, depreciation, and amortization (EBITDA) increased 91.4% to $444.80 million from $232.40 million in Q3 FY16. For the reported quarter, the Company's EBITDA margin increased 660 basis points to 15.9% of revenue from 9.3% of revenue in Q3 FY16. For the reported quarter, Pilgrim's Pride's adjusted EBITDA increased 95.3% to $463.56 million from $237.38 million in Q3 FY16. For the reported quarter, the Company's adjusted EBITDA margin increased 710 basis points to 16.6% of revenue from 9.5% of revenue in Q3 FY16.
For the reported quarter, Pilgrim's Pride's operating income increased 110.5% to $372.25 million from $176.85 million in Q3 FY16. For the reported quarter, the Company's operating margin increased 620 basis points to 13.3% of revenue from 7.1% of revenue in Q3 FY16.
For the reported quarter, Pilgrim's Pride's earnings before tax (EBT) increased 125.8% to $351.71 million from $155.78 million in Q3 FY16. For the reported quarter, the Company's EBT margin increased 640 basis points to 12.6% of revenue from 6.2% of revenue in Q3 FY16.
For the reported quarter, Pilgrim's Pride's net income increased 135.8% to $232.68 million on a y-o-y basis from $98.66 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) increased 138.5% to $0.93 on a y-o-y basis from $0.39 in the same period of last year. For the reported quarter, Pilgrim's Pride's adjusted net income increased 137.1% to $244.78 million on a y-o-y basis from $103.23 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 139% to $0.98 on a y-o-y basis from $0.41 in Q3 FY16, surpassing analysts' expectations of $0.77.
US - During Q3 FY17, the Company's US segment's net revenue increased 12.4% to $1.94 billion from $1.72 billion in the comparable period of last year. For the reported quarter, the segment's gross profit increased 110.3% to $377.21 million from $179.34 million in Q3 FY16. For the reported quarter, the segment's operating income increased 118.1% to $307.96 million from $141.20 million in Q3 FY16.
Mexico - During Q3 FY17, the Company's Mexico segment's net revenue increased 11% to $341.02 million from $307.10 million in the corresponding period of last year. For the reported quarter, the segment's gross profit increased 77% to $54.40 million from $30.73 million in Q3 FY16. For the reported quarter, the segment's operating income increased 102.2% to $45.69 million from $22.60 million in Q3 FY16.
Europe - During Q3 FY17, the Company's Europe segment's net revenue increased 11% to $514.33 million from $463.56 million in the same period of last year. For the reported quarter, the segment's gross profit increased 9.3% to $46.95 million from $42.97 million in Q3 FY16. For the reported quarter, the segment's operating income increased 42.5% to $18.57 million from $13.03 million in Q3 FY16.
As on September 24, 2017, Pilgrim's Pride's cash and cash equivalents increased 37.3% to $401.79 million from $292.54 million as on December 25, 2016. For the reported quarter, the Company's long-term debt, less current maturities, increased 82.5% to $2.55 billion from $1.40 billion in Q4 FY16.
For the reported quarter, the Company's net trade accounts and other receivables increased 40.2% to $624.80 million from $445.55 million in Q4 FY16. For the reported quarter, the Company's accounts payable decreased 5.9% to $743.53 million from $790.38 million in Q4 FY16.
In the first nine months of 2017, the Company's net cash provided by operating activities increased 12% to $618.49 million from $551.98 million in the comparable period of last year.
Stock Performance Snapshot
December 19, 2017 - At Tuesday's closing bell, Pilgrim's Pride's stock declined 2.09%, ending the trading session at $32.25.
Volume traded for the day: 1.11 million shares.
Stock performance in the last three-month – up 11.09%; previous six-month period – up 38.23%; past twelve-month period – up 73.67%; and year-to-date – up 69.83%
After yesterday's close, Pilgrim's Pride's market cap was at $8.15 billion.
Price to Earnings (P/E) ratio was at 12.74.
The stock is part of the Consumer Goods sector, categorized under the Food - Major Diversified industry.
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