In a press release dated February 9th Pilgrim’s Pride Corp. (PPC) announced results for the 4th Quarter of FY 2022 ending December 25th 2022. The quarterly figures showed a loss for the most recent quarter attributed to lower unit revenue across the entire product mix.
The following table summarizes the results FY 2022 derived from the SEC 10-Q form and values are compared with the corresponding previous fiscal yar (Values expressed as US$ x 1,000 except EPS)
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Fiscal Years 2022 and 2021 Ending
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December 25th 2022
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December 26th 2021
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Difference (%)
|
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Sales:
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$17,468,377
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$14,777,458
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+18.2
|
|
Gross profit:
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$1,811,803
|
$136,582
|
+32.6
|
|
Operating income:
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$1,176,595
|
$211,164
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+457.2
|
|
Pre-tax Income
Net Income
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$1,025,473
$745,930
|
$92,390
$31,000
|
+1,009.9
+2,306.2
|
|
Diluted earnings per share:
|
$3.10
|
$0.13
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+2,284.6
|
|
Gross Margin (%)
|
10.4
|
9.2
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+13.0
|
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Operating Margin (%)
|
6.7
|
1.4
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+378.6
|
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Profit Margin (%)
|
4.2
|
0.2
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+2,000
|
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Long-term Debt and lease obligations:
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$3,468,140
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$3,831,712
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-9.5
|
|
12 Months Trailing:
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|
|
|
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Return on Assets (%)
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14.7
|
|
|
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Return on Equity (%)
|
35.0
|
|
|
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Operating Margin (%)
|
12.2
|
|
|
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Profit Margin (%)
|
5.4
|
|
|
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Total Assets ’22 22.7% / ’21 25.8% intangibles
|
$9,255,769
|
$8,913,205
|
+3.8
|
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Market Capitalization February 6th
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$5,700,000
|
|
-
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For the 4th quarter of FY 2022 the Company lost $155.0 million on revenue of $4,127 milllion with a negative diluted EPS of $(0.66). For the corresponding 4th quarter of FY 2021 PPC earned $36.7 million on revenue of $4,039 million with a dilluted EPS of $0.15.
Losses posted by the three business segments during the $th quarter were:-
U.S. 68 percent of company operating loss on 59 percent of total sales
E.U. and U.K. 2 percent of company operating loss on 30 percent of total sales
Mexico 30 percent of company operating loss on 11 percent of total sales
52-Week Range in Share Price of PPC : $20.23 to $34.66 50-day Moving average $24.70
Market Close: Wednesday February 8th $23.52. Open Thursday February 9th post-release $24.99 up 6.2 percent.
Trailing P/E 6.2 Beta 1.0