Pilgrim's Pride Corporation (PPC) Releases Earnings Results, Beats Expectations By $0.08 EPS

Pilgrim's Pride Corporation (PPC) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.46 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.38. The company posted revenue of $1962.90 million in the period, compared to analysts expectations of $1975.79 million. The company’s revenue was down -4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS.

Pilgrim's Pride Corporation opened for trading at $23.6 and hit $24.17 on the upside on Friday, eventually ending the session at $23.95, with a gain of 1.35% or 0.32 points. The heightened volatility saw the trading volume jump to 13,24,614 shares. Company has a market cap of $6,103 M.

In a different news, on Feb 23, 2015, Fabio Sandri (Chief Financial Officer) sold 25,400 shares at $27.55 per share price. According to the SEC, on Feb 23, 2015, William W Lovette (CEO and President) sold 90,690 shares at $27.57 per share price.

Pilgrim’s Pride Corporation (Pilgrim’s) is a producer of Chicken products. The Company is a producer and seller of chicken products with operations in the United States Mexico and Puerto Rico. The Company is engaged in the production processing marketing and distribution of fresh frozen and value-added chicken products to retailers distributors and foodservice operators. Its fresh chicken products include refrigerated (non-frozen) whole chickens whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. Its prepared chicken products include fully cooked ready-to-cook and individually frozen chicken parts strips nuggets and patties. The Company focuses on foodservice industry principally chain restaurants and food processors such as Chick-fil-A and Yum! Brands; distributors such as US Foods and Sysco and retail customers including grocery store chains and wholesale clubs such as Kroger Wal-Mart Costco Publix and Sam’s Club.

Pilgrim's Pride Corporation

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