PPC FY 2019 Earnings Report — Pilgrim's Pride Corporation Revenue & Financial Results | Market Cap Arena

Pilgrim's Pride CorporationPPC

FY 2019 Earnings

Reported February 21, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$11.4B	—	$10.9B	—	4.3%
Op. Income	$691M	—	$496M	—	39.3%
Gross Margin	9.4%	—	7.7%	—	1.7pp
Net Margin	4.0%	—	2.3%	—	1.7pp
EPS (Diluted)	$1.83	—	$1.00	—	83.0%
Free Cash Flow	$318M	—	$143M	—	122.7%

Revenue Flow

Item	Amount
REVENUE	$11.4B
Cost of Revenue	$10.3B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$380M
Other Expenses	-$84.0K
Operating Expenses	$380M
Cost & Expenses	$10.7B
OPERATING INCOME	$691M
Interest Income	$14M
Interest Expense	$133M
Other Income/Expenses	-$73M
INCOME BEFORE TAX	$618M
Income Tax Expense	$161M
Net Income from Continuing Ops	$457M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$456M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$456M
D&A	$287M
EBIT	$750M
EBITDA	$1.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$11.4B
Cost of Revenue	$10.3B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$380M
Other Expenses	-$84.0K
Operating Expenses	$380M
Cost & Expenses	$10.7B
OPERATING INCOME	$691M
Interest Income	$14M
Interest Expense	$133M
Other Income/Expenses	-$73M
INCOME BEFORE TAX	$618M
Income Tax Expense	$161M
Net Income from Continuing Ops	$457M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$456M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$456M
D&A	$287M
EBIT	$750M
EBITDA	$1.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$457M
Depreciation & Amortization	$287M
Stock-Based Compensation	$11M
Deferred Income Tax	$42M
Other Non-Cash Items	-$68M
Change in Working Capital	-$62M
OPERATING CASH FLOW	$667M
Capital Expenditure	-$348M
Acquisitions (Net)	-$385M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$16M
NET CASH FROM INVESTING	-$717M
Net Debt Issuance	-$30M
Common Stock Repurchased	-$3M
Common Dividends Paid	$0
Other Financing Activities	-$652.0K
NET CASH FROM FINANCING	-$35M
FREE CASH FLOW	$318M
Net Change in Cash	-$81M

Balance Sheet

Item	Amount
Cash & Equivalents	$261M
Short-Term Investments	$0
Net Receivables	$802M
Inventory	$1.4B
Other Current Assets	$20M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$2.9B
Goodwill	$974M
Intangible Assets	$596M
Long-Term Investments	$0
Tax Assets	$4M
Other Non-Current Assets	$36M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$7.1B
Account Payables	$875M
Short-Term Debt	$26M
Deferred Revenue	$42M
Other Current Liabilities	$243M
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$302M
Other Non-Current Liabilities	$105M
TOTAL NON-CURRENT LIABILITIES	$2.9B
TOTAL LIABILITIES	$4.6B
Common Stock	$3M
Additional Paid-In Capital	$2.0B
Retained Earnings	$878M
Treasury Stock	-$235M
Accum. Other Comp. Income	-$75M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$10M
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$7.1B
Total Debt	$2.6B
Net Debt	$2.3B