Stock Monitor: Freshpet Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free earnings report on Pilgrim's Pride Corp. (NASDAQ: PPC) ("PPC"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PPC. Pilgrim's Pride reported financial results on February 14, 2018, for the fourth quarter and full year ended December 31, 2017. The Company delivered strong performance in Q4 FY17 and completed several strategic capital investments in full year 2017. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Freshpet, Inc. (NASDAQ: FRPT), which also belongs to the Consumer Goods sector as the Company Pilgrim's Pride. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Pilgrim's Pride most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=PPC
Earnings Highlights and Summary
PPC's total revenues reached $2.74 billion for Q4 FY17, up 15.67% from $2.37 billion in Q4 FY16. The reported revenue number surpassed analysts' consensus estimates of $2.56 billion.
During Q4 FY17, PPC's cost of sales was $2.48 billion compared to $2.14 billion in Q4 FY16, reflecting an increase of 15.80%. The Company's gross profit advanced 14.39% to $261.80 million in Q4 FY17 from $228.87 million in Q4 FY16.
PPC's selling, general, and administrative (SG&A) expenses advanced 30.18% to $105.51 million and administrative restructuring charges increased 61.9% to $1.28 million in Q4 FY17. The Company's operating income for the reported quarter was $155.02 million, up 5.43% from $147.03 million in the year-ago same quarter.
Net income attributable to PPC for the fourteen weeks ended December 31, 2017, was $134.34 million, an increase of 90.23% from $70.62 million for the thirteen weeks ended December 25, 2016. The Company had a diluted net income per share of $0.54 in Q4 FY17, up 92.86% from $0.28 in Q4 FY16. PPC's reported quarter results included foreign currency transaction gains, acquisition charges, restructuring charges, and impact from Puerto Rico hurricane. The Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA), after excluding non-recurring items, was $241.01 million in Q4 FY17, up 17.32% from $205.43 million in Q4 FY16.
For the year ending December 31, 2017, PPC's total sales were $10.77 billion, up 9% from $9.88 billion in FY16. The Company's gross profit advanced 33.30% to $1.47 billion y-o-y, while operating income increased 35.38% to 1.07 billion y-o-y in FY17. Net income attributable to PPC rose 57.67% to $694.58 million in FY17 from $440.53 million in FY16. PPC had diluted net income per share of $2.79 in the reported year, an increase of 61.27% from $1.73 in the previous year. The Company's adjusted EBITDA, after excluding non-recurring items, was $1.39 billion, up 34.80% from $1.03 billion in Q4 FY16.
Segment Details
During Q4 FY17, the US segment's total sales were $1.89 billion, 17.95% up from $1.6 billion in Q4 FY16. This segment reported an operating income of $122.37 million in the quarter ending December 31, 2017, compared to $92.28 million for the same period last year, reflecting an increase of 32.61%.
The Europe segment's total sales advanced 12.91% to $522.47 million in Q4 FY17 from $462.73 million in Q4 FY16. In this quarter, this segment's operating profit increased 11% to $25.23 million from $22.73 million in Q4 FY16.
The Mexico segment reported total sales of $333.75 million in Q4 FY17 compared to $309.1 million in Q4 FY16, reflecting an increase of 7.98%. This segment's operating profit was $7.39 million in the reported quarter, a decrease of 76.91% from $32 million in the previous year's same quarter.
Cash Matters
PPC had cash and cash equivalents of $581.51 million as on December 31, 2017, 98.78% higher than the $292.54 million as on December 25, 2016. The Company had a long-term debt of $2.64 billion at the end of FY17 compared to $1.4 billion at the end of FY16, reflecting an increase of 88.78%.
PPC's net cash flow from operating activities was $801.32 million for FY17, up 0.75% from $795.36 million in FY16. The Company spent $339.87 million on acquisition of property, plant, and equipment in FY17, a slight decrease of 0.32% from $340.96 million in FY16.
PPC purchased common stock worth $14.64 million under share repurchase program in FY17 compared to $117.88 million in FY16. The Company issued new long-term debt of $1.87 billion and repaid debt of $628.68 million in the year under review.
Stock Performance Snapshot
March 22, 2018 - At Thursday's closing bell, Pilgrim's Pride's stock dropped 3.17%, ending the trading session at $24.10.
Volume traded for the day: 1.72 million shares, which was above the 3-month average volume of 1.28 million shares.
Stock performance in the past twelve-month period – up 9.79%
After yesterday's close, Pilgrim's Pride's market cap was at $6.00 billion.
Price to Earnings (P/E) ratio was at 9.19.
The stock is part of the Consumer Goods sector, categorized under the Food - Major Diversified industry.
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