Pilgrims Pride Corp (PPC)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 364,479 | 77,689 | 235,959 | 665,555 | 1,024,865 | 1,196,530 | 963,539 | 312,213 | 92,122 | 59,111 | 23,791 | 191,298 | 161,512 | 263,339 | 363,679 | 618,286 | 616,933 | 477,871 | 381,899 | 281,347 |
| Revenue (ttm) | US$ in thousands | 17,121,930 | 16,725,710 | 16,871,300 | 17,222,890 | 17,295,990 | 17,269,750 | 16,618,380 | 15,613,130 | 14,664,000 | 13,755,120 | 12,996,470 | 12,195,720 | 12,013,720 | 11,959,380 | 11,675,740 | 11,696,170 | 11,323,080 | 10,916,380 | 10,833,440 | 10,859,590 |
| Pretax margin | 2.13% | 0.46% | 1.40% | 3.86% | 5.93% | 6.93% | 5.80% | 2.00% | 0.63% | 0.43% | 0.18% | 1.57% | 1.34% | 2.20% | 3.11% | 5.29% | 5.45% | 4.38% | 3.53% | 2.59% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $364,479K ÷ $17,121,930K
= 2.13%
Over the past eight quarters, Pilgrim`s Pride Corp.'s pretax margin has shown fluctuations. In Q4 2022, the company achieved a pretax margin of 5.87%, which was significantly higher compared to the following quarters. The downward trend continued into Q1 2023, where the pretax margin dropped to 3.83%. This decline was followed by a further decrease to 1.39% in Q2 2023 and a slight uptick to 0.46% in Q3 2023.
Notably, in Q4 2023, Pilgrim`s Pride Corp.'s pretax margin rebounded to 2.10%, showing signs of improvement compared to the previous quarter. Overall, the company experienced fluctuations in its pretax margin during the analyzed period, indicating varying levels of profitability before taxes. Further analysis of the underlying factors that influenced these fluctuations would provide a more comprehensive understanding of the company's financial performance.
Peer comparison
Dec 31, 2023