** charts before earnings **
** charts after earnings **
Pilgrim's Pride beats by $0.08, reports revs in-line :
- Reports Q1 (Mar) earnings of $0.46 per share, $0.08 better than the Capital IQ Consensus of $0.38; revenues fell 4.4% year/year to $1.96 bln vs the $1.98 bln Capital IQ Consensus.
- "Our U.S. and Mexican businesses improved sequentially in Q1 following a challenging Q4, putting us in a strong position for Q2. While market conditions contributed to the improvement, our well-balanced portfolio played a key factor in delivering the improved Q1 performance since we were able to leverage the strength in specific market segments while minimizing the impact of the others," stated Bill Lovette, Chief Executive Officer of Pilgrim's.
- The company declared a special cash dividend of $2.75 per share to improve its capital structure and generate shareholder value. The total value of the special dividend will be ~$700 million, based on current shares outstanding. The special cash dividend will be paid on May 18, 2016, to shareholders of record at the close of business on May 10, 2016.
No comments:
Post a Comment