PPC FY 2014 Earnings Report — Pilgrim's Pride Corporation Revenue & Financial Results | Market Cap Arena

Pilgrim's Pride CorporationPPC

FY 2014 Earnings

Reported February 12, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$8.6B	—	$8.4B	—	2.0%
Op. Income	$1.2B	—	$659M	—	82.6%
Gross Margin	16.2%	—	10.1%	—	6.2pp
Net Margin	8.3%	—	6.5%	—	1.8pp
EPS (Diluted)	$2.74	—	$2.12	—	29.2%
Free Cash Flow	$895M	—	$762M	—	17.4%

Revenue Flow

Item	Amount
REVENUE	$8.6B
Cost of Revenue	$7.2B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$189M
Other Expenses	$2M
Operating Expenses	$191M
Cost & Expenses	$7.4B
OPERATING INCOME	$1.2B
Interest Income	$5M
Interest Expense	$82M
Other Income/Expenses	-$101M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$391M
Net Income from Continuing Ops	$711M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$712M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$712M
D&A	$156M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$8.6B
Cost of Revenue	$7.2B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$189M
Other Expenses	$2M
Operating Expenses	$191M
Cost & Expenses	$7.4B
OPERATING INCOME	$1.2B
Interest Income	$5M
Interest Expense	$82M
Other Income/Expenses	-$101M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$391M
Net Income from Continuing Ops	$711M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$712M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$712M
D&A	$156M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$711M
Depreciation & Amortization	$156M
Stock-Based Compensation	$5M
Deferred Income Tax	$79M
Other Non-Cash Items	$39M
Change in Working Capital	$77M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$171M
Acquisitions (Net)	$0
Purchases of Investments	-$55M
Sales/Maturities of Investments	$152M
Other Investing Activities	$11M
NET CASH FROM INVESTING	-$63M
Net Debt Issuance	-$910M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$906M
FREE CASH FLOW	$895M
Net Change in Cash	$68M

Balance Sheet

Item	Amount
Cash & Equivalents	$576M
Short-Term Investments	$0
Net Receivables	$394M
Inventory	$790M
Other Current Assets	$1M
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$1.2B
Goodwill	$0
Intangible Assets	$27M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$24M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$3.1B
Account Payables	$352M
Short-Term Debt	$262.0K
Deferred Revenue	$0
Other Current Liabilities	$231M
TOTAL CURRENT LIABILITIES	$720M
Long-Term Debt	$4M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$74M
Other Non-Current Liabilities	$97M
TOTAL NON-CURRENT LIABILITIES	$175M
TOTAL LIABILITIES	$895M
Common Stock	$3M
Additional Paid-In Capital	$1.7B
Retained Earnings	$591M
Treasury Stock	$0
Accum. Other Comp. Income	-$63M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$3M
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$4M
Net Debt	-$572M