Pilgrims Pride Corp (PPC)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 364,479 | 1,024,860 | 92,122 | 161,512 | 616,933 |
| Revenue | US$ in thousands | 17,112,600 | 17,295,900 | 14,639,400 | 11,996,600 | 11,295,500 |
| Pretax margin | 2.13% | 5.93% | 0.63% | 1.35% | 5.46% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $364,479K ÷ $17,112,600K
= 2.13%
The pretax margin of Pilgrim's Pride Corp. has fluctuated over the past five years. In 2023, the pretax margin dropped to 2.10% from 5.87% in 2022, indicating a significant decrease in profitability before accounting for taxes. This decline suggests that the company's operating income relative to its revenue decreased in 2023.
Compared to 2021 and 2020, when the pretax margin was 0.63% and 1.34% respectively, the 2023 figure represents an improvement in profitability. However, when compared to 2019 when the pretax margin stood at 5.41%, the 2023 performance falls short, indicating lower profitability levels.
Overall, the trend in the pretax margin suggests variability in Pilgrim's Pride Corp.'s profitability over the past five years, with improvements and declines observed in different periods. Further analysis of the company's financial performance and operational efficiency may be warranted to understand the drivers behind these fluctuations in the pretax margin.
Peer comparison
Dec 31, 2023