When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Pilgrim's Pride (PPC) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Pilgrim's Pride currently has an average brokerage reco ...

Pilgrim's. Financial Results for Second Quarter Ended June 30, 2024 Pilgrim's Pride Corporation (NASDAQ: PPC) Cautionary Notes and Forward-Looking Statements ◼ Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim's Pride Corporation and its management are considered forward-looking statements. Without limiting the foregoing, words such as "anticipates," "believes," "estimates," "expects," "intends," " ...

Financial Data and Key Metrics Changes - For Q2 2024, the company reported net revenues of $4.6 billion, a 5.8% increase compared to the same quarter last year [5][23] - Adjusted EBITDA was $666 million, up 164% from Q2 2023, with an adjusted EBITDA margin of 14.4%, compared to 5.8% last year [5][23] - In the U.S., adjusted EBITDA for Q2 was $444.6 million, compared to $113.5 million a year ago, driven by recovery in the commodity chicken market and lower grain input costs [24] Business Line Data and Key Metrics Changes - The Case Ready business in the U.S. continued to grow through key customer partnerships and innovation, leading to increased margins [5][15] - The Big Bird business improved due to optimization of mix and reduced grain input costs, resulting in significant margin expansion [16] - In Europe, the branded business rose over 7% from last year, with improvements in chilled meals and fresh chicken driving profitability [18] Market Data and Key Metrics Changes - In Mexico, sales with key customers grew double digits, supported by balanced supply and demand fundamentals [7][20] - The domestic chicken demand maintained firm growth, with retail pricing for boneless, skinless breast declining, while ground beef prices increased [11][14] - The USDA indicated a 0.9% increase in ready-to-cook chicken production for the U.S. compared to Q2 2023, despite challenges in livestock headcounts [9][10] Company Strategy and Development Direction - The company aims to capture market upsides while minimizing downside risks through continuous investment in its business [5] - There is a focus on diversifying the portfolio through innovation and enhancing customer partnerships, particularly in the U.S. and Mexico [20][21] - The company is exploring growth opportunities through acquisitions, particularly in the chicken and prepared food segments [33][34] Management's Comments on Operating Environment and Future Outlook - Management noted that while grain prices have declined, risks remain due to global uncertainties and weather conditions [9] - The company anticipates continued strong demand for chicken, particularly in Mexico, despite potential volatility in the live bird market [36][37] - Management expressed confidence in the company's ability to navigate challenges and capitalize on growth opportunities in various markets [20][22] Other Important Information - The company recorded a $71 million charge related to a settlement in grower's litigation during the quarter [24] - The effective tax rate for the quarter was 23.6%, with expectations for a full-year tax rate of approximately 26% [27] - The company plans to increase its full-year CapEx estimate to $525 million to $575 million, focusing on growth opportunities and operational efficiencies [30] Q&A Session Summary Question: Growth opportunities and CapEx plans - Management highlighted strong demand for chicken and opportunities to support key customer growth, with a focus on investments in facilities and potential acquisitions [33][34] Question: Trends for Q3 and market reactions - Management noted that while profitability in Mexico is strong, the live bird market remains volatile, and they expect continued strong demand for chicken [36][37] Question: Historical context of current market conditions - Management compared current market conditions to past cycles, emphasizing the differentiated portfolio and stable margins despite commodity market fluctuations [42][44] Question: Changes in product mix and margin profile - Management indicated that the branded and value-added product segments are expected to grow, contributing to more stable margins [47][48] Question: Long-term aspirations in Mexico - The company aims to grow as a food company in Mexico, exploring both organic growth and acquisition opportunities [49][50] Question: Impact of disease pressure on poultry trade - Management acknowledged that disease pressures are affecting live operations and trade, but noted that trade negotiations have minimized disruptions [51][52] Question: Margin expansion drivers in the U.K. - Management discussed the integration of operations and innovation as key drivers for margin expansion in the U.K. market [53][55]

Pilgrim's Pride Corporation (PPC) reported impressive second-quarter 2024 results, with the top and bottom lines increasing from the year-ago quarter. Also, the company's earnings surpassed the Zacks Consensus Estimate. The company's portfolio diversification strategies, operational excellence, branded offerings and key customer partnerships have been driving growth. Q2 in Detail PPC reported adjusted earnings of $1.67 per share, surpassing the Zacks Consensus Estimate of $1.32. Also, the bottom line increa ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they be ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File number 1-9273 PILGRIM'S PRIDE CORPORATION (Exact name of registrant as specified in its charter) Delaware 75-1285071 (State or other ju ...

Pilgrim's Pride Reports Second Quarter 2024 Results with $4.6 Billion in Net Sales and Operating Income of $440.8 Million GREELEY, Colo., July 31, 2024 (GLOBE NEWSWIRE) - Pilgrim's Pride Corporation (NASDAQ: PPC), one of the world's largest poultry producers, reports its second quarter 2024 financial results. Second Quarter Highlights • Net Sales of $4.6 billion. • Consolidated GAAP operating income margin of 9.7%. • GAAP Net Income of $326.5 million and GAAP EPS of $1.37. Adjusted Net Income of $398.0 mill ...

GREELEY, Colo., July 31, 2024 (GLOBE NEWSWIRE) -- Pilgrim's Pride Corporation (NASDAQ:PPC), one of the world's largest food companies, reports its second quarter 2024 financial results. Second Quarter Highlights Net Sales of $4.6 billion. Consolidated GAAP operating income margin of 9.7%. GAAP Net Income of $326.5 million and GAAP EPS of $1.37. Adjusted Net Income of $398.0 million or Adjusted EPS of $1.67. Adjusted EBITDA of $655.9 million, or a 14.4% margin, with Adjusted EBITDA margins of 16.7% in the U. ...

GREELEY, Colo., July 31, 2024 (GLOBE NEWSWIRE) -- Pilgrim's Pride Corporation (NASDAQ: PPC), one of the world's largest food companies, reports its second quarter 2024 financial results. Second Quarter Highlights Net Sales of $4.6 billion. Consolidated GAAP operating income margin of 9.7%. GAAP Net Income of $326.5 million and GAAP EPS of $1.37. Adjusted Net Income of $398.0 million or Adjusted EPS of $1.67. Adjusted EBITDA of $655.9 million, or a 14.4% margin, with Adjusted EBITDA margins of 16.7% in the U ...

Procter & Gamble (PG) currently has an Earnings ESP of +0.64% and a Zacks Rank #3. The company is likely to register top-line growth when it reports fourth-quarter fiscal 2024 numbers. The consensus mark for revenues is pegged at $20.72 billion, suggesting growth of 0.8% from the figure reported in the year-ago quarter. The Zacks Consensus Estimate for Procter & Gamble's quarterly earnings per share of $1.37 is in line with the figure reported in the year-ago quarter. PG has a trailing four-quarter earnings ...