PPC FY 2013 Earnings Report — Pilgrim's Pride Corporation Revenue & Financial Results | Market Cap Arena

Pilgrim's Pride CorporationPPC

FY 2013 Earnings

Reported February 21, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$8.4B	—	$8.1B	—	3.6%
Op. Income	$659M	—	$250M	—	163.2%
Gross Margin	10.1%	—	5.4%	—	4.7pp
Net Margin	6.5%	—	2.1%	—	4.4pp
EPS (Diluted)	$2.12	—	$0.70	—	202.9%
Free Cash Flow	$762M	—	$109M	—	597.5%

Revenue Flow

Item	Amount
REVENUE	$8.4B
Cost of Revenue	$7.6B
GROSS PROFIT	$845M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$181M
Other Expenses	$6M
Operating Expenses	$187M
Cost & Expenses	$7.8B
OPERATING INCOME	$659M
Interest Income	$2M
Interest Expense	$87M
Other Income/Expenses	-$85M
INCOME BEFORE TAX	$574M
Income Tax Expense	$24M
Net Income from Continuing Ops	$550M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$550M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$550M
D&A	$151M
EBIT	$661M
EBITDA	$811M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$8.4B
Cost of Revenue	$7.6B
GROSS PROFIT	$845M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$181M
Other Expenses	$6M
Operating Expenses	$187M
Cost & Expenses	$7.8B
OPERATING INCOME	$659M
Interest Income	$2M
Interest Expense	$87M
Other Income/Expenses	-$85M
INCOME BEFORE TAX	$574M
Income Tax Expense	$24M
Net Income from Continuing Ops	$550M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$550M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$550M
D&A	$151M
EBIT	$661M
EBITDA	$811M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$550M
Depreciation & Amortization	$151M
Stock-Based Compensation	$3M
Deferred Income Tax	-$5M
Other Non-Cash Items	$10M
Change in Working Capital	$170M
OPERATING CASH FLOW	$879M
Capital Expenditure	-$116M
Acquisitions (Net)	$0
Purchases of Investments	-$97M
Sales/Maturities of Investments	$0
Other Investing Activities	$31M
NET CASH FROM INVESTING	-$182M
Net Debt Issuance	-$253M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	-$250M
FREE CASH FLOW	$762M
Net Change in Cash	$440M

Balance Sheet

Item	Amount
Cash & Equivalents	$508M
Short-Term Investments	$97M
Net Receivables	$444M
Inventory	$809M
Other Current Assets	$9M
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$1.2B
Goodwill	$0
Intangible Assets	$33M
Long-Term Investments	$0
Tax Assets	$19M
Other Non-Current Assets	$40M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$3.2B
Account Payables	$317M
Short-Term Debt	$410M
Deferred Revenue	$0
Other Current Liabilities	$217M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$502M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$14M
Other Non-Current Liabilities	$80M
TOTAL NON-CURRENT LIABILITIES	$596M
TOTAL LIABILITIES	$1.7B
Common Stock	$3M
Additional Paid-In Capital	$1.7B
Retained Earnings	-$120M
Treasury Stock	$0
Accum. Other Comp. Income	-$46M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$3M
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$3.2B
Total Debt	$912M
Net Debt	$404M