The 10-second takeaway
For the quarter ended March 31 (Q1), Pilgrim's Pride met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share grew significantly.
Gross margins were steady, operating margins increased, net margins increased.
Pilgrim's Pride booked revenue of $2.04 billion. The four analysts polled by S&P Capital IQ predicted sales of $2.02 billion on the same basis. GAAP reported sales were 7.8% 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 $0.21. The five earnings estimates compiled by S&P Capital IQ predicted $0.20 per share. GAAP EPS of $0.21 for Q1 were 17% higher than the prior-year quarter's $0.18 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 5.8%, much about the same as the prior-year quarter. Operating margin was 3.7%, 30 basis points better than the prior-year quarter. Net margin was 2.7%, 60 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.05 billion. On the bottom line, the average EPS estimate is $0.40.
Next year's average estimate for revenue is $8.13 billion. The average EPS estimate is $1.48.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 135 members out of 210 rating the stock outperform, and 75 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 45 give Pilgrim's Pride a green thumbs-up, and 25 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pilgrim's Pride is hold, with an average price target of $9.00.
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