Pilgrims Pride Q2 Adj EPS $0.44 Beats $0.30 Estimate, Sales $4.31B Miss $4.36B Estimate
Portfolio Pulse from Benzinga Newsdesk
Pilgrims Pride (NASDAQ:PPC) reported Q2 adjusted earnings of $0.44 per share, beating the analyst consensus estimate of $0.30 by 46.67%. However, this is a 71.43% decrease from the same period last year. The company's quarterly sales of $4.31 billion missed the analyst consensus estimate of $4.36 billion by 1.19%, marking a 6.99% decrease from the same period last year.
July 26, 2023 | 9:02 pm
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NEGATIVE IMPACT
Pilgrims Pride's Q2 earnings beat estimates but are significantly down YoY. Sales also missed estimates and are down YoY.
While Pilgrims Pride beat Q2 earnings estimates, the significant YoY decrease in earnings and sales, as well as missing sales estimates, could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100