We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Factors Likely to Impact Pilgrim's Pride's (PPC) Q2 Earnings
Read MoreHide Full Article
Pilgrim’s Pride Corporation (PPC - Free Report) is likely to register a decline in the bottom line when it reports second-quarter 2020 numbers. The Zacks Consensus Estimate for second-quarter earnings has plunged 68.6% to 11 cents in the past 30 days. The Zacks Consensus Estimate suggests a decline of 84.1% from the year-ago quarter’s reported figure.
In the last reported quarter, the company delivered an earnings surprise of 5.9%.
Pilgrim’s Pride has been witnessing weak macroeconomic conditions in Mexico, which is causing disruptions in consumer spending along with lower demand in the region. In fact, these factors put pressure on operating profit in Mexico in the first quarter. Moreover, the company has been witnessing higher wheat prices in the U.K., thanks to certain export restrictions as well as adverse impacts of unfavorable foreign currency rates. Apart from this, the impact of sluggish demand in foodservice channels amid the coronavirus pandemic is likely to have put pressure on the company’s performance in the second quarter.
Nevertheless, Pilgrim’s Pride has been benefiting from strength in Prepared Foods business under brands like Premium Pilgrims and Del Dia. These brands have been gaining from favorable consumer acceptance. Also, the company has been steadily augmenting marketing support of its brands. Moreover, Pilgrim’s Pride’s customer centric approach bodes well.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Pilgrim’s Pride this time around. 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Pilgrim’s Pride carries a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks With Favorable Combination
Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat.
The Clorox Company (CLX - Free Report) has an Earnings ESP of +0.59% and a Zacks Rank #2.
B&G Foods (BGS - Free Report) currently has an Earnings ESP of +1.56% and a Zacks Rank of 2.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
Factors Likely to Impact Pilgrim's Pride's (PPC) Q2 Earnings
Pilgrim’s Pride Corporation (PPC - Free Report) is likely to register a decline in the bottom line when it reports second-quarter 2020 numbers. The Zacks Consensus Estimate for second-quarter earnings has plunged 68.6% to 11 cents in the past 30 days. The Zacks Consensus Estimate suggests a decline of 84.1% from the year-ago quarter’s reported figure.
In the last reported quarter, the company delivered an earnings surprise of 5.9%.
Pilgrims Pride Corporation Price and EPS Surprise
Pilgrims Pride Corporation price-eps-surprise | Pilgrims Pride Corporation Quote
Factors to Note
Pilgrim’s Pride has been witnessing weak macroeconomic conditions in Mexico, which is causing disruptions in consumer spending along with lower demand in the region. In fact, these factors put pressure on operating profit in Mexico in the first quarter. Moreover, the company has been witnessing higher wheat prices in the U.K., thanks to certain export restrictions as well as adverse impacts of unfavorable foreign currency rates. Apart from this, the impact of sluggish demand in foodservice channels amid the coronavirus pandemic is likely to have put pressure on the company’s performance in the second quarter.
Nevertheless, Pilgrim’s Pride has been benefiting from strength in Prepared Foods business under brands like Premium Pilgrims and Del Dia. These brands have been gaining from favorable consumer acceptance. Also, the company has been steadily augmenting marketing support of its brands. Moreover, Pilgrim’s Pride’s customer centric approach bodes well.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Pilgrim’s Pride this time around. 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Pilgrim’s Pride carries a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks With Favorable Combination
Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat.
Nu Skin Enterprises (NUS - Free Report) currently has an Earnings ESP of +6.35% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Clorox Company (CLX - Free Report) has an Earnings ESP of +0.59% and a Zacks Rank #2.
B&G Foods (BGS - Free Report) currently has an Earnings ESP of +1.56% and a Zacks Rank of 2.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>