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PPC Nasdaq· Pilgrim`s Pride Corp
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PPC Nasdaq· Pilgrim`s Pride Corp
Earnings report Q3 2023

PPC Reports $12.8 Billion in Net Sales for the Nine Months Ended September 24, 2023

Segments of revenue

PPC generated net sales of $12.8 billion for the nine months ended September 24, 2023.

Strengths

PPC's net sales of $12.8 billion for the nine months ended September 24, 2023, demonstrate the company's ability to generate significant revenue. This strong performance can be attributed to various factors, including favorable market conditions and effective sales strategies. Additionally, PPC's gross profit of $797.4 million indicates efficient cost management and pricing strategies.

Challenges

While PPC's net sales were impressive, the company faced challenges from inflation in commodity and labor costs during the third quarter of 2023. These challenges may have impacted the company's profitability and overall financial performance.

Noteworthy

PPC reported net income attributable to Pilgrim's of $186.9 million, or $0.79 per diluted common share, for the nine months ended September 24, 2023. The company also generated income before tax totaling $208.6 million and cash provided by operating activities of $399.6 million. PPC's consolidated operating margin stood at 2.6% for the same period. Furthermore, the company generated EBITDA and Adjusted EBITDA of $628.1 million and $724.7 million, respectively, for the nine months ended September 24, 2023.

Summary

PPC's latest financial quarter showed strong performance in terms of net sales, with the company generating $12.8 billion in revenue for the nine months ended September 24, 2023. Despite challenges from inflation in commodity and labor costs, PPC managed to maintain a consolidated operating margin of 2.6% and generate positive net income. The company's ability to effectively manage costs and implement successful sales strategies contributed to its overall financial strength. However, ongoing challenges in the form of inflation may pose risks to PPC's profitability in the future.

Source documents

Form 10-Q  filed on Oct 25, 2023
101 pages scanned

Reference data

Company financials Q3 revenue 4.53B
Analyst estimates Q3 EPS beat by 36.57%
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