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What's in the Offing for Pilgrim's Pride (PPC) in Q2 Earnings?
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Pilgrim's Pride Corporation (PPC - Free Report) is likely to witness a year-over-year increase in its bottom line when it reports second-quarter 2022 earnings on Jul 27. Although the Zacks Consensus Estimate for earnings has moved down 4.3% to $1.12 per share in the past 30 days, the projection suggests a 77.8% growth from the figure reported in the prior-year quarter. Pilgrim's Pride has a trailing four-quarter earnings surprise of 31.4%, on average. This fresh, frozen and value-added chicken and pork products company delivered an earnings surprise of 81.5% in the last reported quarter.
Pilgrim's Pride Corporation Price and EPS Surprise
Pilgrim's Pride is benefiting from solid Mexico business. Management is growing its Mexican business with the improvement of its branded product lines. The company also benefits from strength in its U.S. operations, courtesy of recovery in the foodservice business and continued strength in retail demand.
Apart from this, the company is gaining from focus on strategic growth initiatives, including a customer-centric approach and capacity expansions. Pilgrim's Pride has been steadily augmenting the marketing support of its brands as they expand and enter new regions. Additionally, it resorts to frequent supply chain improvements to enhance efficiency and reduce costs amid a rising inflationary environment. In this respect, it has been progressing well with developing automation technology for its processing plants. We believe that the persistence of these aspects bodes well for the quarter to be reported.
What the Zacks Model Unveils
Our proven model doesn’t 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 the Favorable Combination
Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
Corteva (CTVA - Free Report) currently has an Earnings ESP of +0.20% and a Zacks Rank of 1. The company is likely to register an increase in the bottom line when it reports second-quarter 2022 results. The Zacks Consensus Estimate for quarterly earnings has moved up by a penny to $1.47 per share in the last seven days. The consensus mark for CTVA’s earnings suggests a 5% growth from the year-ago quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
Corteva’s top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $6.2 billion, which suggests a rise of 9.8% from the figure reported in the prior-year quarter. CTVA delivered an earnings beat of 22.3%, on average, in the trailing four quarters.
Archer Daniels (ADM - Free Report) currently has an Earnings ESP of +1.56% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports second-quarter 2022 results. The Zacks Consensus Estimate for ADM’s quarterly earnings has moved up by almost 3.6% in the past 30 days to $1.75 per share. The consensus mark indicates 31.6% growth from the year-ago quarter’s reported number.
Archer Daniels’ top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $25.3 billion, which suggests a rise of 10.2% from the figure reported in the prior-year quarter. ADM delivered an earnings beat of 22.3%, on average, in the trailing four quarters.
Tyson Foods (TSN - Free Report) currently has an Earnings ESP of +5.71% and a Zacks Rank of 3. The company is likely to register a rise in the top line when it reports third-quarter fiscal 2022 results. The consensus mark for TSN’s quarterly revenues is pegged at $13.4 billion, which suggests a jump of 7% from the figure reported in the prior-year quarter.
The consensus mark for Tyson Foods’ quarterly earnings has moved down from $1.92 to $1.88 per share in the past 30 days. The consensus estimate for TSN’s third-quarter earnings suggests a decline of 30.4% from the year-ago quarter’s reported figure. Tyson Foods delivered an earnings beat of 33.3%, on average, in the trailing four quarters.
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What's in the Offing for Pilgrim's Pride (PPC) in Q2 Earnings?
Pilgrim's Pride Corporation (PPC - Free Report) is likely to witness a year-over-year increase in its bottom line when it reports second-quarter 2022 earnings on Jul 27. Although the Zacks Consensus Estimate for earnings has moved down 4.3% to $1.12 per share in the past 30 days, the projection suggests a 77.8% growth from the figure reported in the prior-year quarter. Pilgrim's Pride has a trailing four-quarter earnings surprise of 31.4%, on average. This fresh, frozen and value-added chicken and pork products company delivered an earnings surprise of 81.5% in the last reported quarter.
Pilgrim's Pride Corporation Price and EPS Surprise
Pilgrim's Pride Corporation price-eps-surprise | Pilgrim's Pride Corporation Quote
Things To Note
Pilgrim's Pride is benefiting from solid Mexico business. Management is growing its Mexican business with the improvement of its branded product lines. The company also benefits from strength in its U.S. operations, courtesy of recovery in the foodservice business and continued strength in retail demand.
Apart from this, the company is gaining from focus on strategic growth initiatives, including a customer-centric approach and capacity expansions. Pilgrim's Pride has been steadily augmenting the marketing support of its brands as they expand and enter new regions. Additionally, it resorts to frequent supply chain improvements to enhance efficiency and reduce costs amid a rising inflationary environment. In this respect, it has been progressing well with developing automation technology for its processing plants. We believe that the persistence of these aspects bodes well for the quarter to be reported.
What the Zacks Model Unveils
Our proven model doesn’t 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 the Favorable Combination
Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
Corteva (CTVA - Free Report) currently has an Earnings ESP of +0.20% and a Zacks Rank of 1. The company is likely to register an increase in the bottom line when it reports second-quarter 2022 results. The Zacks Consensus Estimate for quarterly earnings has moved up by a penny to $1.47 per share in the last seven days. The consensus mark for CTVA’s earnings suggests a 5% growth from the year-ago quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
Corteva’s top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $6.2 billion, which suggests a rise of 9.8% from the figure reported in the prior-year quarter. CTVA delivered an earnings beat of 22.3%, on average, in the trailing four quarters.
Archer Daniels (ADM - Free Report) currently has an Earnings ESP of +1.56% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports second-quarter 2022 results. The Zacks Consensus Estimate for ADM’s quarterly earnings has moved up by almost 3.6% in the past 30 days to $1.75 per share. The consensus mark indicates 31.6% growth from the year-ago quarter’s reported number.
Archer Daniels’ top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $25.3 billion, which suggests a rise of 10.2% from the figure reported in the prior-year quarter. ADM delivered an earnings beat of 22.3%, on average, in the trailing four quarters.
Tyson Foods (TSN - Free Report) currently has an Earnings ESP of +5.71% and a Zacks Rank of 3. The company is likely to register a rise in the top line when it reports third-quarter fiscal 2022 results. The consensus mark for TSN’s quarterly revenues is pegged at $13.4 billion, which suggests a jump of 7% from the figure reported in the prior-year quarter.
The consensus mark for Tyson Foods’ quarterly earnings has moved down from $1.92 to $1.88 per share in the past 30 days. The consensus estimate for TSN’s third-quarter earnings suggests a decline of 30.4% from the year-ago quarter’s reported figure. Tyson Foods delivered an earnings beat of 33.3%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.