Yahoo Finance Pilgrim's Pride (PPC) Q2 Earnings Report Preview: What To Look For
Chicken producer Pilgrim’s Pride (NASDAQ:PPC) will be announcing earnings results tomorrow after market close. Here's what to look for.
Pilgrim's Pride missed analysts' revenue expectations by 1.5% last quarter, reporting revenues of $4.36 billion, up 4.7% year on year. It was a strong quarter for the company, with a solid beat of analysts' gross margin and earnings estimates.
Is Pilgrim's Pride a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Pilgrim's Pride's revenue to grow 7.3% year on year to $4.62 billion, a reversal from the 7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.30 per share.
Heading into earnings, analysts covering the company have had mixed opinions about the business, with revenue estimates seeing 1 upward and 1 downward revisions over the last 30 days. Pilgrim's Pride has missed Wall Street's revenue estimates three times over the last two years.
Looking at Pilgrim's Pride's peers in the consumer staples segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cal-Maine's revenues decreased 7% year on year, missing analysts' expectations by 1.8%, and Boston Beer reported a revenue decline of 4%, falling short of estimates by 3.1%. Cal-Maine traded up 3.1% following the results while Boston Beer was also up 7.4%.
Read our full analysis of Cal-Maine's results here and Boston Beer's results here.
There has been positive sentiment among investors in the consumer staples segment, with share prices up 3.2% on average over the last month. Pilgrim's Pride is up 7.8% during the same time and is heading into earnings with an average analyst price target of $38.7 (compared to the current share price of $41.24).
Today’s young investors likely haven’t read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
