Pilgrims Pride CorpPilgrim's Pride missed adjusted operating income estimates, causing stock to drop 9.2%.
Pilgrim's Pride reported first-quarter revenues of $4.53 billion, up 1.6% year on year and exceeding analyst expectations by 2.6%, but the company significantly missed adjusted operating income estimates. Among the ten perishable food stocks tracked, the group as a whole beat revenue consensus by 2.3% while next-quarter revenue guidance came in 4.6% below expectations. Cal-Maine posted the best results with revenues of $667 million, down 53% year on year but beating estimates by 3.8% and delivering strong EBITDA and EPS beats. Vital Farms had the weakest quarter, with revenues of $187.2 million up 15.4% year on year and beating estimates by 2.2%, but its full-year revenue and EBITDA guidance significantly missed expectations. Freshpet reported revenues of $297.6 million, up 13.1% year on year and beating estimates by 2.2%, along with EPS and operating income beats, while Tyson Foods posted revenues of $13.65 billion, up 4.4% year on year and beating estimates by 1% with strong EBITDA and EPS beats. On average, share prices of these companies are down 5.1% since their latest earnings results.
Pilgrims Pride CorpPilgrim's Pride missed adjusted operating income estimates, causing stock to drop 9.2%.
Cal-Maine Foods IncCal-Maine beat revenue estimates by 3.8% and delivered strong EBITDA and EPS beats.
Freshpet IncFreshpet beat revenue estimates but its full-year revenue and EBITDA guidance significantly missed expectations.
Tyson Foods IncTyson Foods beat revenue estimates by 1% with strong EBITDA and EPS beats.
Vital Farms IncVital Farms beat revenue estimates but its full-year revenue and EBITDA guidance significantly missed expectations.