Pilgrim’s Pride Corporation PPC is likely to register bottom-line growth when it reports first-quarter 2024 earnings on May 1.
The consensus mark for quarterly earnings per share (EPS) has moved up 17.6% in the past 30 days to 60 cents, suggesting substantial growth from the year-ago quarter’s reported earnings of 8 cents. PPC delivered an earnings surprise of 40.5% in the last reported quarter.
Things To Note
Pilgrim’s Pride is benefiting from an impressive performance in Mexico and Europe on the back of strong strategic business integrations and robust customer relationships. The company’s U.S. operations are also seeing growth through diversified portfolio expansion and enhanced operational efficiencies.
Key strategic initiatives, such as facility expansions and investments in technology, have been playing a pivotal role in strengthening Pilgrim’s Pride’s position in the market. The company’s focus on key customers is a pathway for refining its portfolio and creating competitive advantages over its peers. The continuation of these factors is likely to have benefited PPC’s performance in the first quarter of fiscal 2024.
Pilgrim’s Pride Corporation Price and EPS Surprise
Pilgrim’s Pride Corporation price-eps-surprise | Pilgrim’s Pride Corporation Quote
However, Pilgrim’s Pride has been grappling with higher sales costs for a while. In this regard, increased expenditures on raw materials, processing, packaging and distribution are a threat to the company’s performance.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Pilgrim’s Pride this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Pilgrim’s Pride carries a Zacks Rank #2 and has an Earnings ESP of 0.00%.
Some Stocks With the Favorable Combination
Here are three companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time:
The Hershey Company HSY has an Earnings ESP of +1.42% and a Zacks Rank #3. The company is likely to witness top-line growth when it reports first-quarter 2024 results. The Zacks Consensus Estimate for Hershey’s quarterly revenues is pegged at $3.12 billion, suggesting a rise of 4.5% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Hershey’s quarterly earnings is pegged at $2.72, calling for a decline of 8.1% from the year-ago quarter’s levels. HSY has a trailing four-quarter earnings surprise of 6.5%, on average.
Church & Dwight CHD currently has an Earnings ESP of +1.00% and a Zacks Rank of 3. The company is likely to register top- and bottom-line increases when it reports first-quarter 2024 numbers. The Zacks Consensus Estimate for Church & Dwight’s quarterly revenues is pegged at $1.49 billion, indicating growth of 4.3% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Church & Dwight’s quarterly earnings of 86 cents suggests a rise of 1.2% from the year-ago quarter’s levels. CHD has a trailing four-quarter earnings surprise of 9.7%, on average.
Coty COTY currently has an Earnings ESP of +4.23% and a Zacks Rank #3. The company is expected to register top-line growth when it reports third-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COTY’s quarterly revenues is pegged at $1.37 billion, suggesting an increase of 6.6% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for COTY’s quarterly earnings has been unchanged at 6 cents in the past 30 days, suggesting a 68.4% decline from the year-ago quarter’s reported number. COTY has delivered an earnings beat of 115.3%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Hershey Company (The) (HSY) : Free Stock Analysis Report
Church & Dwight Co., Inc. (CHD) : Free Stock Analysis Report
Pilgrim’s Pride Corporation (PPC) : Free Stock Analysis Report
Coty (COTY) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
