Pilgrim's Pride Corporation PPC is likely to register bottom-line growth when it reports third-quarter 2024 earnings on Oct. 30. The consensus mark for third-quarter earnings has declined by a penny in the past 30 days to $1.27 per share, indicating a considerable increase from 58 cents reported in the year-ago quarter. PPC has a trailing four-quarter earnings surprise of 27.3%, on average.

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Things to Consider Ahead of PPC’s Upcoming Results

Pilgrim’s Pride’s portfolio diversification strategies, including its focus on branded offerings and key strategic customer partnerships, have been driving growth. The company’s focus on key customers is a pathway for refining its portfolio and creating competitive advantages over its peers. Strategic investments in its U.S. and Mexican operations, including new facilities and expanded capacities, have been supporting growth and operational excellence.

Enhanced operational efficiencies and a favorable market environment for private brands are also working well for PPC’s overall performance. These upsides are likely to aid results in the quarter under review. Strength in the foodservice distribution channel has been another driver, as seen in commercial and non-commercial foodservice distribution subchannels in the second quarter of 2024.

The company has also been implementing cost-cutting measures, such as optimizing operational processes and reducing grain input costs, which have improved margins and profitability. However, challenges in the export business pose concerns for the company.

Earnings Whispers for PPC

Our proven model doesn’t conclusively predict an earnings beat for Pilgrim's Pride this time. 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, which is not the case here.

Pilgrim's Pride carries a Zacks Rank #3 and has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With the Favorable Combination

Here are some companies worth considering, as our model shows that these have the correct combination to beat on earnings this time.

Performance Food Group Company PFGC currently has an Earnings ESP of +0.33% and carries a Zacks Rank #2. The Zacks Consensus Estimate for first-quarter fiscal 2025 earnings per share is pegged at $1.22, up 6.1% year over year. You can see the complete list of today’s Zacks #1 Rank stocks here.

Performance Food’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $15.34 billion, which indicates an increase of 2.7% from the figure reported in the prior-year quarter. PFGC has a trailing four-quarter earnings surprise of 1.3%, on average.

Mondelez International MDLZ currently has an Earnings ESP of +0.82% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports third-quarter 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of 84 cents suggests a rise of 2.4% from the year-ago reported number.

Mondelez International’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $9.1 billion, which suggests a marginal increase of 0.5% from the prior-year quarter. MDLZ has a trailing four-quarter earnings surprise of 7.8%, on average.

US Foods Holding Corp. USFD currently has an Earnings ESP of +0.69% and a Zacks Rank #3. The company is expected to register a bottom-line increase when it reports third-quarter 2024 results. The Zacks Consensus Estimate for quarterly earnings per share of 82 cents a share suggests a rise of 17.1% from the year-ago reported number.

US Foods Holding’s top line is anticipated to advance year over year. The consensus mark for revenues is pegged at $9.7 billion, indicating an increase of 6.6% from the figure reported in the year-ago quarter.

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Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report

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