PPC FY 2018 Earnings Report — Pilgrim's Pride Corporation Revenue & Financial Results | Market Cap Arena

Pilgrim's Pride CorporationPPC

FY 2018 Earnings

Reported February 14, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$10.9B	—	$10.8B	—	1.6%
Op. Income	$496M	—	$1.1B	—	-53.8%
Gross Margin	7.7%	—	13.7%	—	-6.0pp
Net Margin	2.3%	—	6.7%	—	-4.4pp
EPS (Diluted)	$1.00	—	$2.79	—	-64.2%
Free Cash Flow	$143M	—	$461M	—	-69.0%

Revenue Flow

Item	Amount
REVENUE	$10.9B
Cost of Revenue	$10.1B
GROSS PROFIT	$843M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$343M
Other Expenses	$5M
Operating Expenses	$348M
Cost & Expenses	$10.4B
OPERATING INCOME	$496M
Interest Income	$14M
Interest Expense	$163M
Other Income/Expenses	-$163M
INCOME BEFORE TAX	$332M
Income Tax Expense	$85M
Net Income from Continuing Ops	$247M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$248M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$248M
D&A	$274M
EBIT	$495M
EBITDA	$769M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$10.9B
Cost of Revenue	$10.1B
GROSS PROFIT	$843M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$343M
Other Expenses	$5M
Operating Expenses	$348M
Cost & Expenses	$10.4B
OPERATING INCOME	$496M
Interest Income	$14M
Interest Expense	$163M
Other Income/Expenses	-$163M
INCOME BEFORE TAX	$332M
Income Tax Expense	$85M
Net Income from Continuing Ops	$247M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$248M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$248M
D&A	$274M
EBIT	$495M
EBITDA	$769M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$247M
Depreciation & Amortization	$280M
Stock-Based Compensation	$13M
Deferred Income Tax	$33M
Other Non-Cash Items	$23M
Change in Working Capital	-$103M
OPERATING CASH FLOW	$492M
Capital Expenditure	-$349M
Acquisitions (Net)	$11M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$339M
Net Debt Issuance	-$378M
Common Stock Repurchased	-$236.0K
Common Dividends Paid	$0
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$384M
FREE CASH FLOW	$143M
Net Change in Cash	-$228M

Balance Sheet

Item	Amount
Cash & Equivalents	$338M
Short-Term Investments	$0
Net Receivables	$601M
Inventory	$1.2B
Other Current Assets	$23M
TOTAL CURRENT ASSETS	$2.2B
PP&E (Net)	$2.2B
Goodwill	$950M
Intangible Assets	$564M
Long-Term Investments	$0
Tax Assets	$4M
Other Non-Current Assets	$17M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$5.9B
Account Payables	$742M
Short-Term Debt	$30M
Deferred Revenue	$33M
Other Current Liabilities	$237M
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$237M
Other Non-Current Liabilities	$83M
TOTAL NON-CURRENT LIABILITIES	$2.6B
TOTAL LIABILITIES	$3.9B
Common Stock	$3M
Additional Paid-In Capital	$1.9B
Retained Earnings	$422M
Treasury Stock	-$232M
Accum. Other Comp. Income	-$128M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$10M
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$2.3B
Net Debt	$2.0B