Pilgrim's Pride (PPC) To Report Earnings Tomorrow: Here Is What To Expect
Chicken producer Pilgrim’s Pride (NASDAQ:PPC) will be reporting earnings tomorrow before the bell. Here's what you need to know.
Last quarter Pilgrim's Pride reported revenues of $4.36 billion, down 2.4% year on year, beating analyst revenue expectations by 1.5%. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Pilgrim's Pride buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Pilgrim's Pride's revenue to grow 8.4% year on year to $4.48 billion, improving on the 2.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Pilgrim's Pride's peers in the packaged food segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Kellanova delivered top-line growth of 0.3% year on year, beating analyst estimates by 3.1% and Mondelez reported revenues up 8.7% year on year, exceeding estimates by 0.2%. Kellanova traded up 2.1% on the results, Mondelez was down 3.1%.
Read our full analysis of Kellanova's results here and Mondelez's results here.
Investors in the packaged food segment have had steady hands going into the earnings, with the stocks down on average 0.4% over the last month. Pilgrim's Pride is up 6.3% during the same time, and is heading into the earnings with analyst price target of $29.7, compared to share price of $29.5.
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