Pilgrims Pride Q1 2024 Adj EPS $0.77 Beats $0.64 Estimate, Sales $4.362B Miss $4.450B Estimate
Portfolio Pulse from Benzinga Newsdesk
Pilgrims Pride (NASDAQ:PPC) reported Q1 2024 adjusted EPS of $0.77, surpassing the $0.64 estimate, marking a 862.5% increase from last year's $0.08. However, their sales of $4.362B fell short of the $4.450B estimate, though it's a 4.70% increase from the previous year.
May 01, 2024 | 8:39 pm
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Pilgrims Pride reported a significant earnings beat with an adjusted EPS of $0.77, outperforming estimates by 20.31%, and a year-over-year earnings increase of 862.5%. However, sales slightly missed estimates by 1.97% but showed a 4.70% increase from the previous year.
The significant beat on the EPS estimate and the substantial year-over-year earnings growth are likely to positively impact investor sentiment and PPC's stock price in the short term. The slight miss on sales estimates may temper some of the enthusiasm, but the overall positive earnings report and sales growth should outweigh this.
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