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Last $25.44 USD
Change Today +0.74 / 3.00%
Volume 2.0M
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

pilgrim's pride corp (PPC) Key Developments

Pilgrim's Pride Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 29, 2015; Provides Capital Expenditure and Interest Expense Guidance for the Full Year of Fiscal 2015

Pilgrim's Pride Corporation reported unaudited consolidated earnings results for the first quarter ended March 29, 2015. The company reported first quarter 2015 financial results with Net sales of $2.05 billion for the thirteen week period, as compared to $2.02 billion for the same period in 2014. The 2015 first quarter net income of $204.2 million or $0.79 per diluted share was an improvement of 108% compared to the $98.1 million or $0.38 per diluted share reported in the same period in 2014. Adjusted earnings per share was $0.82 in the first quarter of 2015 compared to $0.39 in the same period last year, while EBITDA of $363.5 million, a 17.7% margin, increased 77% compared to the $205.5 million generated in the prior year. Income before income taxes was $315,687,000 against $150,199,000 a year ago. Cash provided by operating activities was $296,086,000 against $195,701,000 a year ago. Acquisitions of property, plant and equipment was $32,591,000 against $47,760,000 a year ago. Net debt was $672,537,000 against $155,454,000 a year ago. During the quarter, the company generated $250 million in free cash flow after taxes and after $232 million in capital investments. The company provided capital expenditure and interest expense guidance for the full year of fiscal 2015. The company is maintaining its capital expenditure outlook for 2015 at $175 million. Interest expense for 2015 expected should be in the range of $30 million to $40 million.

Pilgrim's Pride Corporation, Q1 2015 Earnings Call, Apr 30, 2015

Pilgrim's Pride Corporation, Q1 2015 Earnings Call, Apr 30, 2015

Pilgrim's Pride Closes $500.0 Million Senior Unsecured Notes Rule 144A Offering

Pilgrim's Pride Corporation announced it has closed an offering of $500.0 million aggregate principal amount of Senior Unsecured Notes due 2025 to qualified institutional buyers in accordance with Rule 144A and Regulation S under the Securities Act of 1933, as amended. The Notes will bear interest at a rate of 5.750% per year, payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2015. The company intends to apply $350.0 million of the net proceeds against the payment of indebtedness outstanding under the term loan commitment of its U.S. credit facility, which will result in a more balanced portfolio of variable and fixed interest debt. The balance of the net proceeds from the sale of the Notes will be used for general corporate purposes.

Pilgrim's Pride Prices $500 Million Notes Offering

Pilgrim's Pride said that it has priced its private placement to qualified institutional buyers of $500 million aggregate principal amount of 5.75% senior unsecured notes due 2025 at par. The company intends to use the net proceeds for debt repayments and for general corporate purposes. The offering is expected to close on March 11, subject to certain closing conditions.

Pilgrim's Pride Corporation, Annual General Meeting, May 01, 2015

Pilgrim's Pride Corporation, Annual General Meeting, May 01, 2015., at 10:00 US Eastern Standard Time. Location: Pilgrim's Pride Corporation headquarters. Agenda: To elect Gilberto Tomazoni, Joesley Mendon a Batista, Wesley Mendon a Batista, William W. Lovette, Andre Nogueira de Souza, and Wallim Cruz De Vasconcellos Junior as the six JBS Directors for the ensuing year; to elect David E. Bell, Michael L. Cooper, and Charles Macaluso as the three Equity Directors for the ensuing year; to conduct a stockholder advisory vote on executive compensation; to ratify the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending December 27, 2015; and to transact such other business as may properly be brought before the meeting or any adjournment thereof.

 

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Valuation PPC Industry Range
Price/Earnings 8.1x
Price/Sales 0.8x
Price/Book 7.3x
Price/Cash Flow 8.1x
TEV/Sales 0.6x
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