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Pilgrim's Pride (PPC) Q3 Earnings Upcoming: Factors to Note

Zacks Equity Research
·4 min read

Pilgrim's Pride Corporation PPC is likely to register bottom-line growth from the respective year-ago fiscal quarter’s reading when it reports third-quarter 2022 earnings on Oct 26.

The Zacks Consensus Estimate for quarterly earnings has remained unchanged in the past 30 days at 87 cents per share, indicating a 29.9% increase from the figure reported in the prior-year fiscal quarter. The meat products company has a trailing four-quarter earnings surprise of 39%, on average. PPC delivered an earnings surprise of 37.5% in the last reported quarter.

Factors to Note

Pilgrim’s Pride has been benefiting from its customer-centric approach, which prompts the company to come up with unique offerings that provide competitive advantages. The company’s focus on key customers is a pathway for refining its portfolio and creating competitive advantages over its peers.

Considering Pilgrim's Pride’s focus on profitable growth and impressive market momentum, management recently introduced some new investments in the United States, which bode well.

Pilgrim's Pride Corporation Price, Consensus and EPS Surprise

Pilgrim's Pride Corporation price-consensus-eps-surprise-chart | Pilgrim's Pride Corporation Quote

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Also, the company has been steadily augmenting the marketing support of its brands as they expand and enter new regions. It resorts to frequent supply-chain improvements to enhance efficiency and reduce costs. In this respect, it has been progressing well with developing automation technology for its processing plants. The introduction of such advanced technology has been increasing efficiency.

These upsides bode well for the company amid an inflationary cost scenario.

What the Zacks Model Unveils

Our proven model doesn’t conclusively predict an earnings beat for Pilgrim's Pride this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

Pilgrim's Pride has a Zacks Rank #3 and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With the Favorable Combination

Here are some companies worth considering as our model shows that these have the right combination of elements to beat earnings this season.

Archer Daniels Midland ADM currently has an Earnings ESP of +4.06% and a Zacks Rank #3. ADM is likely to register a top and bottom-line improvement when it reports third-quarter 2022 numbers.

The Zacks Consensus Estimate for Archer Daniels’ quarterly revenues is pegged at $22.9 billion, which indicates an improvement of 12.6% from the figure reported in the prior-year fiscal quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for the quarterly EPS of $1.42 suggests 46.4% growth from the figure reported in the year-ago fiscal quarter. ADM has a trailing four-quarter earnings surprise of 20.1%, on average.

Beyond Meat BYND currently has an Earnings ESP of +2.40% and a Zacks Rank of 3. BYND is likely to register a decline in the top line from the year-earlier quarter’s reported number when it reports third-quarter 2022 results.

The consensus mark for Beyond Meat’s bottom line has remained the same over the past 30 days at a loss of $1.11 per share. A loss of 87 cents was reported in the year-ago fiscal quarter.

Kellogg Company K currently has an Earnings ESP of +2.49% and a Zacks Rank of 3. K is expected to register top-line growth when it reports third-quarter 2022 numbers. The Zacks Consensus Estimate for Kellogg's quarterly revenues is pegged at $3.8 billion, which suggests growth of 3.8% from the prior-year quarter’s reported figure.

The Zacks Consensus Estimate for Kellogg's quarterly earnings has remained stable in the past 30 days at 96 cents per share, suggesting a decline of 11.9% from the year-ago quarter’s tally. K delivered an earnings beat of 13.3%, on average, in the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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Archer Daniels Midland Company (ADM) : Free Stock Analysis Report
 
Kellogg Company (K) : Free Stock Analysis Report
 
Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report
 
Beyond Meat, Inc. (BYND) : Free Stock Analysis Report
 
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