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What Awaits for Pilgrim's Pride's (PPC) Q2 Earnings Release?

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Pilgrim's Pride Corporation (PPC - Free Report) is likely to register bottom-line growth when it reports second-quarter 2024 earnings on Jul 31, 2024.

The consensus mark for quarterly earnings per share (EPS) has remained unchanged in the past 30 days at $1.32 per share, suggesting substantial growth from the year-ago quarter’s reported earnings of 44 cents. PPC delivered an earnings surprise of 28.3% in the last reported quarter.

Factors To Note

PPC is reaping benefits from strategic growth initiatives, which include prioritizing key customers, expanding capacity, reinforcing brands and cutting costs. The company is gaining significant market momentum and boosting efficiency. Its ongoing enhancements to the supply chain are contributing to improved efficiency and cost reduction. Pilgrim's Pride is consistently increasing its marketing support for its brands. The continuation of these factors is likely to have benefited PPC’s performance in the second quarter of fiscal 2024.

Yet, Pilgrim’s Pride has been experiencing the challenges of enduring inflation and the ever-changing nature of market conditions. The rising cost of sales has been hurting its performance for a while. The persistence of these trends is likely to have impacted its margin performance.

Pilgrim's Pride Corporation Price and EPS Surprise

 

Pilgrim's Pride Corporation Price and EPS Surprise

Pilgrim's Pride Corporation price-eps-surprise | Pilgrim's Pride Corporation Quote

 

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:

Clorox (CLX - Free Report) currently has an Earnings ESP of +1.20% and a Zacks Rank of 3. The company is likely to register a top- and bottom-line decline when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Clorox’s quarterly revenues is pegged at $1.97 billion, calling for a decline of 2.4% 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 Clorox’s quarterly earnings of $1.54 implies a drop of 7.8% from the year-ago quarter’s levels. However, Clorox has a trailing four-quarter earnings surprise of 128.5%, on average.

Coty (COTY - Free Report) has an Earnings ESP of +22.73% and a Zacks Rank of 3 at present. The company is expected to register top- and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COTY’s quarterly earnings has remained unchanged in the past 30 days at 5 cents per share. The consensus mark for earnings indicates a 400% surge from the figure reported in the year-ago quarter.

The consensus estimate for quarterly revenues is pegged at $1.38 billion, which indicates a rise of 1.8% from the figure reported in the year-ago quarter. COTY delivered a trailing four-quarter average negative earnings surprise of 22.2%.

Procter & Gamble (PG - Free Report) currently has an Earnings ESP of +0.64% and a Zacks Rank #3. The company is likely to register top-line growth when it reports fourth-quarter fiscal 2024 numbers. The consensus mark for revenues is pegged at $20.72 billion, suggesting growth of 0.8% from the figure reported in the year-ago quarter.

The Zacks Consensus Estimate for Procter & Gamble’s quarterly earnings per share of $1.37 is in line with the figure reported in the year-ago quarter. PG has a trailing four-quarter earnings surprise of 6.5%, on average.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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