Using the rifle charts on the weekly and daily time frames provides a precision view of the landscape for PPC stock. Even with the increase in prices, we see chicken to be the most affordable and most available meat protein option as the aggregate production of all other meat proteins is anticipated to be down year-over-year in 2022.” He noted that pricing didn’t keep pace with inputs, but the Company was able to renegotiate new pricing models with key customers to mitigate inflationary pressures. As a result of sustained strong demand, which we estimated to be above pre-COVID baselines coupled with only mild supply growth, prices for commodity chicken should remain sustained as demonstrated by the jumbo cutout, which priced at 71% above the five-year average during the fourth quarter. Combined, the net increase in demand pressured cold storage stocks, which remain 14% below December 2020 levels. Demand for fresh chicken in 2021 declined versus prior year, however, was up 4% versus 2019, while retail daily posted positive year-over-year improvement. He stated, “The retail channel while demanding less volume when compared to the pantry loading during 2020, continue to exceed demand levels experienced in 2019. Annual food service demand rose 4% higher than 2019 pre-pandemic levels. Overall, the domestic consumer demand was very strong as food service continued to see YoY improvements driven by recovery in commercial and noncommercial segments. As the industry holds hens longer to sell more eggs, the hatchability perform declines as hens age.
He noted that the industry is holding its flock longer in an effort to produce more eggs. Productions rose despite poor hatchability rates as USA outlook for 2022 indicate 1.6% increase in annual supply. Pilgrim’s Pride CEO Fabio Sandri covered the general market conditions in the U.S. The Company ended the year with strong liquidity with an adjusted EBITDA to net leverage ration of less than 2.2X. Its European business was impacted by inflation, labor shortages and pig pricing. Prepared foods continued to improve as Pilgrim’s and Just Bare brands saw significant growth in both retail and e-commerce channels. Full-year 2021 revenues rose 22% YoY to $14.8 billion with $31 million with GAAP net income of $31 million. Adjusted EBITDA rose 64% YoY to $1.3 billion or an 8.7% margin for the quarter.
Revenues grew 29.5% year-over-year (YoY) to $4.04 billion versus $3.81 billion analyst estimates. The Company reported earnings-per-share (EPS) profits of $0.56, beating away consensus analyst estimates for $0.53, by $0.03. 9, 2022, Pilgrim’s Pride reported its fiscal Q4 2021 earnings for the quarter ended in December 2021.
0 kommentar(er)
