NASDAQ$PPC
Pilgrim's Pride · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Pilgrim's Pride reported first quarter 2023 results with net sales of $4.2 billion and operating income of $31.3 million.
Pilgrim's Pride Corporation reported its first quarter 2023 financial results with net sales of $4.2 billion and operating income of $31.3 million. The company's U.S. business improved relative to the prior quarter, while the U.K. and Europe business continued to recover, and the Mexico business rebounded.
- Net Sales of $4.2 billion.
- GAAP Net Income of $5.6 million and GAAP EPS of $0.02. Adjusted Net Income of $19.0 million or Adjusted EPS of $0.08.
- Consolidated GAAP operating income margin of 0.8%.
- Adjusted EBITDA of $151.9 million, or a 3.6% margin, with adjusted EBITDA margins of 1.8% in the U.S., 5.3% in the U.K. & Europe, and 8.5% in Mexico.
Headline financials
Revenue & EPS history
Pilgrim's Pride · Revenue · Quarterly
$4.17B
Forward guidance
Pilgrim's Pride continues to grow and diversify its portfolio, support key customer growth, and improve operational excellence. The company is focused on reducing energy intensity and greenhouse gas emissions throughout its supply chain.
Tailwinds
- Expansion at Athens, Georgia facility remains on track.
- Automation improvements are progressing as planned.
- New protein conversion plant in south Georgia remains on track.
- State-of-the-art poultry farm in the U.K. can reduce emissions by nearly 100%.
- Intense focus on reducing energy intensity at processing plants.
Headwinds
- Elevated input costs.
- Persistent inflation.
- Ample protein availability.
- Challenging circumstances in the U.S. commodity business, especially in January.
- Continued inflationary headwinds and seasonal changes in demand in the U.K. and Europe.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.0%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+2.8%
Avg return
30 days after
57%
37 / 65 earnings
Positive
+23.2%
Q3 2012
Best reaction
-14.3%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.8% | +0.5% | -9.1% | |
| Q4 2025 | -3.6% | +0.7% | -16.1% | |
| Q3 2025 | -0.1% | -2.3% | -0.2% | |
| Q1 2025 | -14.3% | -14.5% | -9.9% | |
| Q4 2024 | +3.4% | +3.6% | -1.4% | |
| Q3 2024 | +0.7% | +6.6% | +7.3% | |
| Q2 2024 | +1.8% | +4.5% | +12.3% | |
| Q1 2024 | -0.2% | +1.7% | -0.2% | |
| Q4 2023 | +11.6% | +11.2% | +19.8% | |
| Q3 2023 | +4.1% | +8.2% | +11.4% | |
| Q2 2023 | +1.8% | +2.5% | +3.2% | |
| Q1 2023 | +1.1% | +2.2% | +3.8% | |
| Q4 2022 | +6.8% | +4.0% | +0.7% | |
| Q3 2022 | +3.6% | +2.7% | +16.2% | |
| Q2 2022 | -1.3% | -6.7% | -11.3% | |
| Q1 2022 | +10.6% | +10.5% | +26.9% | |
| Q4 2021 | -3.0% | -2.6% | -20.3% | |
| Q3 2021 | -2.6% | -1.5% | -2.4% | |
| Q2 2021 | +1.3% | -0.3% | +26.7% | |
| Q1 2021 | -1.1% | -1.7% | -1.8% | |
| Q4 2020 | -5.5% | -5.0% | +10.7% | |
| Q3 2020 | +0.4% | +6.8% | +19.9% | |
| Q2 2020 | -4.9% | -5.9% | +1.7% | |
| Q1 2020 | +3.2% | -5.4% | -3.0% | |
| Q4 2019 | -4.8% | -10.6% | -30.7% | |
| Q3 2019 | +3.2% | +4.2% | +7.1% | |
| Q2 2019 | +7.3% | +5.2% | +14.1% | |
| Q1 2019 | +1.8% | +6.8% | -5.0% | |
| Q4 2018 | -6.1% | -3.2% | +0.9% | |
| Q3 2018 | +5.6% | +7.2% | +10.5% | |
| Q2 2018 | -1.6% | +1.2% | +3.8% | |
| Q1 2018 | +2.4% | -2.2% | -4.5% | |
| Q4 2017 | +5.4% | +3.1% | -0.6% | |
| Q3 2017 | +8.6% | +13.1% | +22.1% | |
| Q2 2017 | +4.5% | +7.6% | +22.1% | |
| Q1 2017 | -1.9% | -2.1% | -8.9% | |
| Q4 2016 | +10.3% | +9.9% | +15.2% | |
| Q3 2016 | +0.7% | +4.4% | -13.1% | |
| Q2 2016 | -5.7% | -7.7% | -9.3% | |
| Q1 2016 | +11.9% | — | — | |
| Q4 2015 | -5.0% | — | — | |
| Q3 2015 | -3.9% | — | — | |
| Q2 2015 | +7.6% | — | — | |
| Q1 2015 | +1.8% | — | — | |
| Q4 2014 | +3.4% | — | — | |
| Q3 2014 | +0.2% | — | — | |
| Q2 2014 | -8.6% | — | — | |
| Q1 2014 | +2.6% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | +9.0% | — | — | |
| Q1 2013 | +6.0% | — | — | |
| Q4 2012 | -7.2% | — | — | |
| Q3 2012 | +23.2% | — | — | |
| Q4 2011 | -2.8% | — | — | |
| Q2 2012 | -2.8% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q1 2012 | +2.0% | — | — | |
| Q4 2009 | +3.1% | — | — | |
| Q1 2010 | +3.1% | — | — | |
| Q3 2011 | -3.8% | — | — | |
| Q3 2010 | -3.8% | — | — | |
| Q4 2010 | -6.9% | — | — | |
| Q2 2010 | -6.9% | — | — | |
| Q2 2011 | -6.9% | — | — |
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