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The Zacks Consensus Estimate for the bottom line has declined from earnings of 2 cents per share to a loss of 1 cent in the past seven days. The projection indicates a considerable decline from the year-ago quarter’s reported earnings of $1.18 per share. Pilgrim's Pride has a trailing four-quarter earnings surprise of 48.1%, on average.
Factors to Consider
Pilgrim's Pride has been grappling with an increased cost of sales for a while. In the fourth quarter of 2022, PPC’s cost of sales increased to $4,031.6 million from the $3,686.3 million reported in the year-ago period.
The gross profit as a percentage of sales fell to 2.3% from 8.7% in the same period last year. The company's adjusted EBITDA margin fell to 1.5% in the fourth quarter of 2022 from the 7.8% reported in the fourth quarter of 2021. This decline in the metric was caused by an unprecedented drop in U.S. market pricing. The persistence of these aspects remains a concern for the quarter under review.
However, Pilgrim's Pride’s customer-centric approach and focus on introducing new offerings have been an upside.
Pilgrim's Pride Corporation Price, Consensus and EPS Surprise
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 chances of an earnings beat, which is not the case here.
Pilgrim's Pride has a Zacks Rank #5 (Strong Sell) 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 three companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
The Zacks Consensus Estimate for Mondelez’s quarterly revenues is pegged at $8.4 billion, calling for growth of 8.6% from the prior-year quarter’s reported figure. The Zacks Consensus Estimate for the quarterly EPS of 80 cents suggests a decline of 4.8% from the figure reported in the year-ago fiscal quarter. MDLZ has a trailing four-quarter earnings surprise of 7.5%, on average.
Altria Group (MO - Free Report) currently has an Earnings ESP of +1.93% and a Zacks Rank of 3. The company is likely to register an increase in the top and bottom lines when it reports first-quarter 2023 results. The Zacks Consensus Estimate for Altria’s quarterly revenues is pegged at roughly $5 billion, which suggests a rise of 3.6% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for MO’s quarterly EPS of $1.19 suggests a 6.3% increase from the year-ago quarter. Altria has a trailing four-quarter earnings surprise of 0.3%, on average.
Sysco Corporation (SYY - Free Report) currently has an Earnings ESP of +3.07% and a Zacks Rank of 3. The company is likely to register a top-and-bottom-line increase when it reports third-quarter fiscal 2023 results. The consensus mark for SYY’s quarterly revenues is pegged at $18.7 billion, which suggests a jump of 10.8% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Sysco’s bottom line has remained unchanged at 92 cents per share in the past 30 days. The consensus estimate indicates a 29.6% improvement from the year-ago quarter’s figure.
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Factors to Note Ahead of Pilgrim's Pride's (PPC) Q1 Earnings
Pilgrim's Pride Corporation (PPC - Free Report) is likely to register a bottom-line decline when it reports first-quarter 2023 earnings on Apr 26.
The Zacks Consensus Estimate for the bottom line has declined from earnings of 2 cents per share to a loss of 1 cent in the past seven days. The projection indicates a considerable decline from the year-ago quarter’s reported earnings of $1.18 per share. Pilgrim's Pride has a trailing four-quarter earnings surprise of 48.1%, on average.
Factors to Consider
Pilgrim's Pride has been grappling with an increased cost of sales for a while. In the fourth quarter of 2022, PPC’s cost of sales increased to $4,031.6 million from the $3,686.3 million reported in the year-ago period.
The gross profit as a percentage of sales fell to 2.3% from 8.7% in the same period last year. The company's adjusted EBITDA margin fell to 1.5% in the fourth quarter of 2022 from the 7.8% reported in the fourth quarter of 2021. This decline in the metric was caused by an unprecedented drop in U.S. market pricing. The persistence of these aspects remains a concern for the quarter under review.
However, Pilgrim's Pride’s customer-centric approach and focus on introducing new offerings have been an upside.
Pilgrim's Pride Corporation Price, Consensus and EPS Surprise
Pilgrim's Pride Corporation price-consensus-eps-surprise-chart | Pilgrim's Pride Corporation Quote
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 chances of an earnings beat, which is not the case here.
Pilgrim's Pride has a Zacks Rank #5 (Strong Sell) 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 three companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Mondelez International (MDLZ - Free Report) currently has an Earnings ESP of +1.06% and a Zacks Rank of 3. MDLZ is expected to register a top-line improvement when it reports first-quarter 2023 numbers. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Mondelez’s quarterly revenues is pegged at $8.4 billion, calling for growth of 8.6% from the prior-year quarter’s reported figure. The Zacks Consensus Estimate for the quarterly EPS of 80 cents suggests a decline of 4.8% from the figure reported in the year-ago fiscal quarter. MDLZ has a trailing four-quarter earnings surprise of 7.5%, on average.
Altria Group (MO - Free Report) currently has an Earnings ESP of +1.93% and a Zacks Rank of 3. The company is likely to register an increase in the top and bottom lines when it reports first-quarter 2023 results. The Zacks Consensus Estimate for Altria’s quarterly revenues is pegged at roughly $5 billion, which suggests a rise of 3.6% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for MO’s quarterly EPS of $1.19 suggests a 6.3% increase from the year-ago quarter. Altria has a trailing four-quarter earnings surprise of 0.3%, on average.
Sysco Corporation (SYY - Free Report) currently has an Earnings ESP of +3.07% and a Zacks Rank of 3. The company is likely to register a top-and-bottom-line increase when it reports third-quarter fiscal 2023 results. The consensus mark for SYY’s quarterly revenues is pegged at $18.7 billion, which suggests a jump of 10.8% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Sysco’s bottom line has remained unchanged at 92 cents per share in the past 30 days. The consensus estimate indicates a 29.6% improvement from the year-ago quarter’s figure.
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