The 10-second takeaway
For the quarter ended Sep. 23 (Q3), Pilgrim's beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share grew.
Margins grew across the board.
Pilgrim's recorded revenue of $2.07 billion. The four analysts polled by S&P Capital IQ expected to see revenue of $1.97 billion on the same basis. GAAP reported sales were 9.4% higher than the prior-year quarter's $1.89 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.18. The four earnings estimates compiled by S&P Capital IQ forecast $0.06 per share. GAAP EPS were $0.17 for Q3 versus -$0.76 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 5.1%, 850 basis points better than the prior-year quarter. Operating margin was 3.1%, 920 basis points better than the prior-year quarter. Net margin was 2.1%, 1,070 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.92 billion. On the bottom line, the average EPS estimate is -$0.26.
Next year's average estimate for revenue is $7.75 billion. The average EPS estimate is $0.22.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 125 members out of 199 rating the stock outperform, and 74 members rating it underperform. Among 64 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 37 give Pilgrim's a green thumbs-up, and 27 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pilgrim's is hold, with an average price target of $4.20.
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