Pilgrim's Pride Corporation reported financial results for the 2008 fiscal year second quarter. Net loss was $1.67 per share compared to a net loss of $0.60 per share in the previous year's second quarter. Results included restructuring charges related to plant and distribution center closings. Feed costs, the largest expense, increased $200 million from the prior year due to higher corn and soybean meal prices. The company also sold its turkey business. Industrywide production cutbacks and declining egg sets were expected to improve pricing in the second half of the fiscal year as unused capacity is reduced and seasonal demand increases.
Pilgrim's Pride Corporation reported financial results for the 2008 fiscal third quarter. Key points include:
- The company reported a net loss of $0.69 per share compared to a net income of $0.95 per share in the prior year third quarter.
- Feed costs increased significantly year-over-year, rising $266 million and representing 42.4% of cost of goods sold compared to 39.5% last quarter.
- The company closed a North Carolina plant and six distribution centers, eliminating around 1,100 positions, to help address challenges.
Pilgrim's Pride Corporation reported financial results for the first quarter of fiscal year 2008. Net loss per share was $0.49, an improvement from the prior year's pro forma loss of $0.64 per share. Soaring feed costs posed challenges. Strong export demand and low inventories supported pricing gains year-over-year. Net sales increased 12.2% compared to the prior year. Synergies from the Gold Kist acquisition reached $155 million realized to date with a $226 million annual run rate. Long-term debt totaled over $1.3 billion with additional credit facilities available.
Glatfelter (NYSE:GLT) reported its financial results for the first quarter of 2009. Specialty Papers operating income increased 60.5% to $18.4 million compared to the first quarter of 2008, driven by higher selling prices, cost reductions, and productivity improvements partially offset by higher raw material costs. Composite Fibers operating income decreased 10.8% to $5.5 million due to weaker volumes in certain product lines, while food and beverage shipments grew. Capital expenditures were reduced to $5.2 million in the first quarter of 2009 compared to $9.3 million in the same period of 2008.
1) The document discusses Rohm and Haas' third quarter 2008 earnings results. Sales were up 12% to $2,471 million due to pricing actions, currency effects, acquisitions, and growth in rapidly developing economies, despite decreased demand in North America and Western Europe.
2) Adjusted earnings per share were up 3% to $0.90 due to cost controls and pricing actions offsetting deteriorating business conditions.
3) The Dow Chemical Company announced a definitive agreement to acquire Rohm and Haas for $78 per share in cash on July 10, 2008.
- Invesco reported its first quarter 2009 results with total AUM of $348.2 billion, down from $357.2 billion at the end of 2008.
- Net long-term flows were positive $0.7 billion for the quarter, continuing the trend of improved flows. Institutional money market AUM increased by $8.6 billion.
- Net operating income was $67.6 million for Q1 2009, down from $91.5 million in Q4 2008, and net operating margin was 16.5% versus 19.0% the prior quarter.
- Alcoa reported net income of $268 million for 3Q 2008, which included $29 million for restructuring. Revenues were $7.2 billion, up from $6.5 billion in 3Q 2007 excluding divested businesses.
- The aluminum industry is facing significant increases in input costs such as caustic soda, calcined coke, ocean freight, and fuel oil. These rising costs have squeezed margins across the industry.
- Compared to 3Q 2007, Alcoa's income from continuing operations excluding special items fell from $340 million to $298 million due to higher costs that were only partially offset by productivity gains and price increases.
PPG Industries reported financial results for Q4 and full year 2008. Q4 sales declined 18% to $3.1 billion due to a severe drop in global demand. However, full year sales increased 30% to $15.8 billion due to growth in coatings segments and acquisitions. Earnings per share were $0.41 for Q4 and $4.59 for the full year after adjustments. PPG expects global demand and currency rates to impact Q1 2009 results. The company generated strong cash flow in 2008 and repaid debt ahead of schedule.
The document summarizes Alcoa's 1st quarter 2008 financial results and outlook. Key highlights include income from continuing operations of $303 million, revenues of $7.4 billion, and segment ATOI increasing 42% excluding packaging. Business conditions included lower aluminum prices, unfavorable currency and energy costs, and continued pressure in automotive. The outlook anticipates production increases and improved efficiencies. Alcoa reviews growth opportunities in aerospace, transportation, and infrastructure and discusses strategic priorities around profitable growth, competitive advantages, and disciplined execution.
Pilgrim's Pride Corporation reported financial results for the 2008 fiscal third quarter. Key points include:
- The company reported a net loss of $0.69 per share compared to a net income of $0.95 per share in the prior year third quarter.
- Feed costs increased significantly year-over-year, rising $266 million and representing 42.4% of cost of goods sold compared to 39.5% last quarter.
- The company closed a North Carolina plant and six distribution centers, eliminating around 1,100 positions, to help address challenges.
Pilgrim's Pride Corporation reported financial results for the first quarter of fiscal year 2008. Net loss per share was $0.49, an improvement from the prior year's pro forma loss of $0.64 per share. Soaring feed costs posed challenges. Strong export demand and low inventories supported pricing gains year-over-year. Net sales increased 12.2% compared to the prior year. Synergies from the Gold Kist acquisition reached $155 million realized to date with a $226 million annual run rate. Long-term debt totaled over $1.3 billion with additional credit facilities available.
Glatfelter (NYSE:GLT) reported its financial results for the first quarter of 2009. Specialty Papers operating income increased 60.5% to $18.4 million compared to the first quarter of 2008, driven by higher selling prices, cost reductions, and productivity improvements partially offset by higher raw material costs. Composite Fibers operating income decreased 10.8% to $5.5 million due to weaker volumes in certain product lines, while food and beverage shipments grew. Capital expenditures were reduced to $5.2 million in the first quarter of 2009 compared to $9.3 million in the same period of 2008.
1) The document discusses Rohm and Haas' third quarter 2008 earnings results. Sales were up 12% to $2,471 million due to pricing actions, currency effects, acquisitions, and growth in rapidly developing economies, despite decreased demand in North America and Western Europe.
2) Adjusted earnings per share were up 3% to $0.90 due to cost controls and pricing actions offsetting deteriorating business conditions.
3) The Dow Chemical Company announced a definitive agreement to acquire Rohm and Haas for $78 per share in cash on July 10, 2008.
- Invesco reported its first quarter 2009 results with total AUM of $348.2 billion, down from $357.2 billion at the end of 2008.
- Net long-term flows were positive $0.7 billion for the quarter, continuing the trend of improved flows. Institutional money market AUM increased by $8.6 billion.
- Net operating income was $67.6 million for Q1 2009, down from $91.5 million in Q4 2008, and net operating margin was 16.5% versus 19.0% the prior quarter.
- Alcoa reported net income of $268 million for 3Q 2008, which included $29 million for restructuring. Revenues were $7.2 billion, up from $6.5 billion in 3Q 2007 excluding divested businesses.
- The aluminum industry is facing significant increases in input costs such as caustic soda, calcined coke, ocean freight, and fuel oil. These rising costs have squeezed margins across the industry.
- Compared to 3Q 2007, Alcoa's income from continuing operations excluding special items fell from $340 million to $298 million due to higher costs that were only partially offset by productivity gains and price increases.
PPG Industries reported financial results for Q4 and full year 2008. Q4 sales declined 18% to $3.1 billion due to a severe drop in global demand. However, full year sales increased 30% to $15.8 billion due to growth in coatings segments and acquisitions. Earnings per share were $0.41 for Q4 and $4.59 for the full year after adjustments. PPG expects global demand and currency rates to impact Q1 2009 results. The company generated strong cash flow in 2008 and repaid debt ahead of schedule.
The document summarizes Alcoa's 1st quarter 2008 financial results and outlook. Key highlights include income from continuing operations of $303 million, revenues of $7.4 billion, and segment ATOI increasing 42% excluding packaging. Business conditions included lower aluminum prices, unfavorable currency and energy costs, and continued pressure in automotive. The outlook anticipates production increases and improved efficiencies. Alcoa reviews growth opportunities in aerospace, transportation, and infrastructure and discusses strategic priorities around profitable growth, competitive advantages, and disciplined execution.
Oscar Munoz, CFO of CSX, presented at the Merrill Lynch Global Transportation Conference. He discussed CSX's strong financial results in the first quarter of 2005, including a 72% increase in operating income. However, Munoz noted that operational challenges remain, such as improving average train speed. Munoz also outlined CSX's strategy to leverage its integrated network and position itself for long-term growth in an evolving transportation marketplace.
- U.S. petroleum refining company presenting at an energy conference
- Facing challenges from weak refining market conditions and falling gasoline demand
- Taking steps to improve operating flexibility and maximize contributions from non-refining businesses like logistics and coke to maintain financial performance
- Alcoa reported income from continuing operations of $546 million or $0.66 per share for Q2 2008, an 80% increase over Q1 2008. Revenues increased 3% to $7.6 billion.
- Input costs continued to climb across the industry, with increases in caustic soda, calcined coke, fuel oil, and other materials. However, Alcoa saw double digit profit increases across all operating segments sequentially.
- Cash from operations exceeded $1 billion. The company repurchased $175 million in shares, reaching 10% of shares outstanding under the repurchase program. Global aluminum demand is expected to increase 7.9% in 2008 despite weakness in the US market.
Raytheon Reports 2008 First Quarter Resultsfinance12
This document provides a summary of Raytheon Company's earnings for the first quarter of 2008. It includes:
1) Solid bookings of $6.5 billion and record backlog of $37.7 billion for the quarter.
2) Sales increased 11% to $5.4 billion. Operating income grew 17% to $608 million and earnings per share increased 31% to $0.93.
3) The company repurchased 5.5 million shares and increased its dividend by 10% for the year as previously announced.
This document contains:
1) A summary of PPG Industries' third quarter 2006 financial results, including details on sales, earnings, and market indicators. Sales increased 10% overall with growth in all business segments. Earnings declined from the prior year.
2) Comments on key topics and outlook for 2006, including the economy, inflation, and volume trends by region and business segment.
3) An overview of how PPG Industries uses cash, including funding businesses and growth initiatives, paying dividends, and stock repurchases.
Raytheon Reports 2008 Third Quarter Resultsfinance12
Raytheon reported third quarter 2008 earnings. Sales increased 12% to $5.9 billion and operating income rose 19% to $680 million. Earnings per share increased 17% to $1.01. Strong bookings of $5.8 billion resulted in a backlog of $37.0 billion. Raytheon increased full-year 2008 guidance for sales, earnings per share, and return on invested capital.
This document is a 4Q 2006 earnings release from an unnamed company. It provides financial results for 4Q 2006 and full year 2006. Key highlights include 14% sales growth and 19% segment profit growth in 4Q, and 13% sales growth and 21% segment profit growth for 2006. The company also generated $941 million in free cash flow for 4Q and $2.5 billion for 2006. The release provides details on performance by business segment and gives guidance for 2007 of 5-12% growth in segment profit and 13-17% growth in EPS.
George Buckley discusses innovation and growth at 3M. Some key points:
1) 3M had strong sales and earnings growth in Q1 2007, with all business posting sales increases.
2) Buckley outlines 3M's strategy of growing its core businesses, making complementary acquisitions, building new businesses, and focusing on international growth.
3) Buckley emphasizes the importance of innovation, efficiency gains, and focusing on customers to drive profitable growth.
The document provides an overview of Alcoa's 4th quarter 2008 financial results and outlook for 1st quarter 2009. Key points include:
- 4Q 2008 loss from continuing operations of $929 million or $1.16 per share due to restructuring and impairment charges of $708 million.
- Revenue declined 18% sequentially to $5.7 billion on lower metal prices and market deterioration.
- Cash from operations was $608 million and cash on hand was $762 million.
- 1Q 2009 outlook includes further price declines and production cuts due to weak market conditions across key end markets.
Focused on Production reported strong financial results for 2011, including steady production, excellent cost control, and strengthened balance sheet. The company also reported positive exploration results at its San Dimas mine, with a new discovery in the Sinaloa Graben zone validating the exploration potential. Peñoles plans to continue aggressive exploration and development at San Dimas in 2012 to further expand resources and reserves.
This document provides information on Raytheon Company's fourth quarter and full-year 2007 earnings. Key highlights include record bookings of $9.2 billion in Q4 and $25.5 billion for the year. Sales were $6 billion in Q4 and $21.3 billion for the year, both up 8%. Earnings per share from continuing operations was $1.45 in Q4 and $3.80 for the year. The document also provides guidance for 2008, forecasting sales between $22.4-22.9 billion and EPS from continuing operations of $3.65-3.80.
The Sherwin-Williams Company 2002 Annual Report summarizes the company's financial performance for the year. It discusses the company's four business segments: Paint Stores (63.7% of sales), Consumer (22.7% of sales), Automotive Finishes (8.8% of sales), and International Coatings (4.7% of sales). It also highlights that net sales were $5.18 billion for 2002, income before accounting changes was $310.7 million, and return on sales was 6.0%.
Dover Corporation reported third quarter 2008 results with revenue increasing 5% year-over-year to $2 billion and earnings per share increasing 13% to $1.01. Free cash flow was up 4% to $306 million for the quarter. Segment margins increased slightly to 15.9% while organic growth was 2.8% and acquisition growth was 1.7%. The company completed its $500 million share repurchase program for the quarter, repurchasing $114 million in shares.
Dover Corporation reported financial results for the first quarter of 2005, with sales up 17% and earnings per share up 20% compared to the same period last year. All six of Dover's operating segments saw sales gains. The CEO commented that results reflected success in building on momentum from 2004, and that sequential improvement in sales, earnings, bookings and backlog suggested continued growth in the current quarter. Dover remains actively focused on acquisitions that meet its financial and operating criteria.
The 2004 annual report of Crown Holdings, Inc. provides financial highlights and a letter to shareholders. Key details include:
- Net sales grew 8.6% to $7.2 billion in 2004, with segment income up 31.3% and net income of $51 million compared to a loss of $32 million in 2003.
- Free cash flow was $266 million in 2004, down from $314 million in 2003 but supporting debt reduction.
- All operating divisions saw sales, segment income, and margin growth in 2004 both with and without currency effects.
- Research and development led to numerous new product innovations helping drive further business improvements.
- The report outlines goals to continue strengthening operations and pursuing growth opportunities
This document is Dover Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. It includes Dover's condensed consolidated financial statements for the quarter, including statements of operations, balance sheets, cash flows, and stockholders' equity. It also includes notes to the financial statements regarding the basis of presentation, new accounting pronouncements related to stock-based compensation, and segment information. The report indicates Dover's revenues for the quarter increased 22% to $1.67 billion compared to the same period in 2005.
The document is Pilgrim's Pride Corporation's 2007 annual report. It discusses key events from fiscal year 2007, including completing the acquisition of Gold Kist Inc. to become the world's largest chicken company, achieving $150 million in annualized cost savings from integrating the two companies, and returning to profitability due to higher pricing and export demand despite rising feed costs. It also notes challenges around operational inefficiencies and higher production and freight costs. Going forward, the company will focus on automation investments to improve efficiency and help address tight labor markets and input cost pressures.
The 2008 annual report summarizes Gannett Co.'s financial performance for the year and initiatives to transform the company. Operating revenues declined 9% to $6.8 billion due to economic challenges. Net income would have been $747 million without $8.4 billion in impairment charges, resulting in a reported net loss of $6.65 billion. The company continued investing in its digital strategy through acquisitions and partnerships. It also restructured operations to reduce costs and focus on revenue opportunities while delivering local news across multiple platforms. Gannett made progress in its transition despite economic headwinds.
Pilgrim's Pride Corporation reported a net loss from continuing operations of $0.69 per share for the third quarter of fiscal 2008, compared to net income of $0.95 per share in the third quarter of fiscal 2007. Feed costs increased significantly over the prior year, representing 42.4% of cost of goods sold compared to 39.5% in the previous quarter. The company closed a processing plant and six distribution centers, eliminating approximately 1,100 positions, and raised $177 million through a stock offering to gain financial flexibility in managing business during volatile market conditions. No near-term relief is expected from high energy and feed ingredient costs.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to gain corn share in key international markets like Argentina and maintain leadership in Brazil.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to continue gaining corn share in the U.S. and internationally through 2008 and beyond.
Oscar Munoz, CFO of CSX, presented at the Merrill Lynch Global Transportation Conference. He discussed CSX's strong financial results in the first quarter of 2005, including a 72% increase in operating income. However, Munoz noted that operational challenges remain, such as improving average train speed. Munoz also outlined CSX's strategy to leverage its integrated network and position itself for long-term growth in an evolving transportation marketplace.
- U.S. petroleum refining company presenting at an energy conference
- Facing challenges from weak refining market conditions and falling gasoline demand
- Taking steps to improve operating flexibility and maximize contributions from non-refining businesses like logistics and coke to maintain financial performance
- Alcoa reported income from continuing operations of $546 million or $0.66 per share for Q2 2008, an 80% increase over Q1 2008. Revenues increased 3% to $7.6 billion.
- Input costs continued to climb across the industry, with increases in caustic soda, calcined coke, fuel oil, and other materials. However, Alcoa saw double digit profit increases across all operating segments sequentially.
- Cash from operations exceeded $1 billion. The company repurchased $175 million in shares, reaching 10% of shares outstanding under the repurchase program. Global aluminum demand is expected to increase 7.9% in 2008 despite weakness in the US market.
Raytheon Reports 2008 First Quarter Resultsfinance12
This document provides a summary of Raytheon Company's earnings for the first quarter of 2008. It includes:
1) Solid bookings of $6.5 billion and record backlog of $37.7 billion for the quarter.
2) Sales increased 11% to $5.4 billion. Operating income grew 17% to $608 million and earnings per share increased 31% to $0.93.
3) The company repurchased 5.5 million shares and increased its dividend by 10% for the year as previously announced.
This document contains:
1) A summary of PPG Industries' third quarter 2006 financial results, including details on sales, earnings, and market indicators. Sales increased 10% overall with growth in all business segments. Earnings declined from the prior year.
2) Comments on key topics and outlook for 2006, including the economy, inflation, and volume trends by region and business segment.
3) An overview of how PPG Industries uses cash, including funding businesses and growth initiatives, paying dividends, and stock repurchases.
Raytheon Reports 2008 Third Quarter Resultsfinance12
Raytheon reported third quarter 2008 earnings. Sales increased 12% to $5.9 billion and operating income rose 19% to $680 million. Earnings per share increased 17% to $1.01. Strong bookings of $5.8 billion resulted in a backlog of $37.0 billion. Raytheon increased full-year 2008 guidance for sales, earnings per share, and return on invested capital.
This document is a 4Q 2006 earnings release from an unnamed company. It provides financial results for 4Q 2006 and full year 2006. Key highlights include 14% sales growth and 19% segment profit growth in 4Q, and 13% sales growth and 21% segment profit growth for 2006. The company also generated $941 million in free cash flow for 4Q and $2.5 billion for 2006. The release provides details on performance by business segment and gives guidance for 2007 of 5-12% growth in segment profit and 13-17% growth in EPS.
George Buckley discusses innovation and growth at 3M. Some key points:
1) 3M had strong sales and earnings growth in Q1 2007, with all business posting sales increases.
2) Buckley outlines 3M's strategy of growing its core businesses, making complementary acquisitions, building new businesses, and focusing on international growth.
3) Buckley emphasizes the importance of innovation, efficiency gains, and focusing on customers to drive profitable growth.
The document provides an overview of Alcoa's 4th quarter 2008 financial results and outlook for 1st quarter 2009. Key points include:
- 4Q 2008 loss from continuing operations of $929 million or $1.16 per share due to restructuring and impairment charges of $708 million.
- Revenue declined 18% sequentially to $5.7 billion on lower metal prices and market deterioration.
- Cash from operations was $608 million and cash on hand was $762 million.
- 1Q 2009 outlook includes further price declines and production cuts due to weak market conditions across key end markets.
Focused on Production reported strong financial results for 2011, including steady production, excellent cost control, and strengthened balance sheet. The company also reported positive exploration results at its San Dimas mine, with a new discovery in the Sinaloa Graben zone validating the exploration potential. Peñoles plans to continue aggressive exploration and development at San Dimas in 2012 to further expand resources and reserves.
This document provides information on Raytheon Company's fourth quarter and full-year 2007 earnings. Key highlights include record bookings of $9.2 billion in Q4 and $25.5 billion for the year. Sales were $6 billion in Q4 and $21.3 billion for the year, both up 8%. Earnings per share from continuing operations was $1.45 in Q4 and $3.80 for the year. The document also provides guidance for 2008, forecasting sales between $22.4-22.9 billion and EPS from continuing operations of $3.65-3.80.
The Sherwin-Williams Company 2002 Annual Report summarizes the company's financial performance for the year. It discusses the company's four business segments: Paint Stores (63.7% of sales), Consumer (22.7% of sales), Automotive Finishes (8.8% of sales), and International Coatings (4.7% of sales). It also highlights that net sales were $5.18 billion for 2002, income before accounting changes was $310.7 million, and return on sales was 6.0%.
Dover Corporation reported third quarter 2008 results with revenue increasing 5% year-over-year to $2 billion and earnings per share increasing 13% to $1.01. Free cash flow was up 4% to $306 million for the quarter. Segment margins increased slightly to 15.9% while organic growth was 2.8% and acquisition growth was 1.7%. The company completed its $500 million share repurchase program for the quarter, repurchasing $114 million in shares.
Dover Corporation reported financial results for the first quarter of 2005, with sales up 17% and earnings per share up 20% compared to the same period last year. All six of Dover's operating segments saw sales gains. The CEO commented that results reflected success in building on momentum from 2004, and that sequential improvement in sales, earnings, bookings and backlog suggested continued growth in the current quarter. Dover remains actively focused on acquisitions that meet its financial and operating criteria.
The 2004 annual report of Crown Holdings, Inc. provides financial highlights and a letter to shareholders. Key details include:
- Net sales grew 8.6% to $7.2 billion in 2004, with segment income up 31.3% and net income of $51 million compared to a loss of $32 million in 2003.
- Free cash flow was $266 million in 2004, down from $314 million in 2003 but supporting debt reduction.
- All operating divisions saw sales, segment income, and margin growth in 2004 both with and without currency effects.
- Research and development led to numerous new product innovations helping drive further business improvements.
- The report outlines goals to continue strengthening operations and pursuing growth opportunities
This document is Dover Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2006. It includes Dover's condensed consolidated financial statements for the quarter, including statements of operations, balance sheets, cash flows, and stockholders' equity. It also includes notes to the financial statements regarding the basis of presentation, new accounting pronouncements related to stock-based compensation, and segment information. The report indicates Dover's revenues for the quarter increased 22% to $1.67 billion compared to the same period in 2005.
The document is Pilgrim's Pride Corporation's 2007 annual report. It discusses key events from fiscal year 2007, including completing the acquisition of Gold Kist Inc. to become the world's largest chicken company, achieving $150 million in annualized cost savings from integrating the two companies, and returning to profitability due to higher pricing and export demand despite rising feed costs. It also notes challenges around operational inefficiencies and higher production and freight costs. Going forward, the company will focus on automation investments to improve efficiency and help address tight labor markets and input cost pressures.
The 2008 annual report summarizes Gannett Co.'s financial performance for the year and initiatives to transform the company. Operating revenues declined 9% to $6.8 billion due to economic challenges. Net income would have been $747 million without $8.4 billion in impairment charges, resulting in a reported net loss of $6.65 billion. The company continued investing in its digital strategy through acquisitions and partnerships. It also restructured operations to reduce costs and focus on revenue opportunities while delivering local news across multiple platforms. Gannett made progress in its transition despite economic headwinds.
Pilgrim's Pride Corporation reported a net loss from continuing operations of $0.69 per share for the third quarter of fiscal 2008, compared to net income of $0.95 per share in the third quarter of fiscal 2007. Feed costs increased significantly over the prior year, representing 42.4% of cost of goods sold compared to 39.5% in the previous quarter. The company closed a processing plant and six distribution centers, eliminating approximately 1,100 positions, and raised $177 million through a stock offering to gain financial flexibility in managing business during volatile market conditions. No near-term relief is expected from high energy and feed ingredient costs.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to gain corn share in key international markets like Argentina and maintain leadership in Brazil.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to continue gaining corn share in the U.S. and internationally through 2008 and beyond.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to continue gaining corn share in the U.S. and internationally through 2008 and beyond.
Pilgrim's Pride Corporation reported financial results for the first quarter of fiscal year 2008. Net loss per share was $0.49, an improvement from the prior year's pro forma loss of $0.64 per share. Earnings were impacted by soaring feed costs, though pricing and demand for chicken were up year-over-year. Synergies from the Gold Kist acquisition totaled $155 million realized to date. Long-term debt was $1.317 billion as of the end of the quarter.
This document provides a summary of UAL Corporation's performance in 2007 and 2008, as well as its strategies to address challenges from high fuel prices. Key points include:
1) 2007 was UAL's most profitable year since 1999, with over $1 billion in operating income. However, rising fuel costs have severely impacted financial performance in 2008.
2) UAL is taking actions like capacity reductions, raising new capital, developing new revenue streams, and increasing fuel hedging to address the fuel price crisis.
3) Looking ahead, UAL aims to strengthen its competitive position through cost cutting, operational improvements, investments in products/services, and expanding its partnership with Continental Airlines.
This document provides a summary of UAL Corporation's performance in 2007 and 2008, as well as its strategies to address challenges from high fuel prices. Key points include:
1) 2007 was UAL's most profitable year since 1999, with over $1 billion in operating income. However, rising fuel costs have severely impacted financial performance in 2008.
2) UAL is taking actions like capacity reductions, raising new capital, developing new revenue streams, and increasing fuel hedging to address the fuel price crisis.
3) Looking ahead, UAL aims to strengthen its competitive position through cost cutting, operational improvements, investments in products/services, and expanding its partnership with Continental Airlines.
Public Service Enterprise Group held an investor meeting in Boston on February 13, 2008 to discuss the company's strategic overview and performance. PSEG reported strong earnings growth in 2007 and provided guidance for continued earnings growth in 2008. The company emphasized addressing New Jersey's clean energy goals through initiatives like the Regional Greenhouse Gas Initiative and expanding its nuclear, solar, and peaking generation capacity. Climate change was highlighted as a defining issue that creates both environmental responsibilities and business opportunities for PSEG.
public serviceenterprise group Boston Investor Meetingfinance20
Public Service Enterprise Group held an investor meeting in Boston on February 13, 2008 to discuss the company's strategic overview and performance. PSEG reported strong earnings growth in 2007 and provided guidance for continued earnings growth in 2008. The company emphasized addressing New Jersey's clean energy goals through initiatives like the Regional Greenhouse Gas Initiative and expanding its nuclear, solar, and peaking generation capacity. Climate change was highlighted as a defining issue that creates both environmental responsibilities and business opportunities for PSEG.
fpl group library.corporate-library. corporate-finance17
FPL Group reported record adjusted earnings per share for 2008, driven by strong performance at NextEra Energy Resources. NextEra Energy Resources had a record year and added approximately 1,300 MW of wind capacity. FPL's earnings were challenged by a weak Florida economy and flat customer growth. FPL will seek a new rate agreement in 2009 to support investments in cleaner generation. NextEra Energy Resources continues to perform well due to contributions from new and existing projects. FPL Group expects adjusted EPS of $4.05 to $4.25 for 2009.
This document provides a summary of a conference call for Newmont Mining Corporation's fourth quarter and full year 2008 earnings. It discusses Newmont meeting its original 2008 targets for gold production, costs, and capital expenditures. Key highlights include improved financial performance due to higher gold prices, increasing reserves through the Boddington acquisition, and expectations for higher gold sales at lower costs and reduced capital spending in 2009. Major projects like Conga and Akyem are being evaluated in light of market volatility. Boddington is on track to start up in mid-2009 and become one of Australia's largest gold producers.
This document provides a summary of a conference call for Newmont Mining Corporation's fourth quarter and full year 2008 earnings. It discusses Newmont meeting its original 2008 operating and financial targets despite challenging market conditions. Key highlights included stable gold reserves, improved financial performance from higher gold prices, and expectations for higher gold sales at lower costs and reduced capital expenditures in 2009. The document also provides updates on major projects including Boddington, Conga, Hope Bay, and Akyem.
The document provides an overview of Loews Corporation's 2008 investor meeting. It summarizes CNA Financial Corporation's solid financial performance including improved operating earnings, a strong balance sheet, and steady core securities income. It also discusses CNA's property and casualty operations which drive the company's results, and how its controlled, orderly run-off operations mitigate earnings risks. Additionally, it outlines CNA's highly diversified insurance portfolio, market leadership in specialty businesses, and disciplined underwriting approach.
The document summarizes Danaher Corporation's earnings results for the fourth quarter and full year of 2008. It reports that adjusted diluted EPS increased 6% for the quarter and 10.5% for the full year. Revenue increased 1% for the quarter and 15% for the full year, driven by acquisitions. Operating margins declined for the quarter and year due to restructuring charges and businesses owned for less than one year. The company provided guidance for a challenging 2009.
The document summarizes Owens & Minor's 1Q 2008 financial results conference call. It begins with safe harbor statements noting risks and uncertainties that could impact projected results. Key highlights include revenue of $1.748 billion for 1Q 2008, gross margin of 10.67% of revenues, SG&A expenses of 8.47% of revenues, and operating earnings of 2.46% of revenues. CEO Craig Smith reaffirmed 2008 annual revenue growth guidance of 5-7% and earnings per share guidance of $2.20 to $2.30, representing 23-28% earnings growth.
This document provides supplemental information for investors regarding Monsanto Company, including forward-looking statements and selected financial highlights from 2005-2008. Key points include that Monsanto is the world's leading agriculture company focused on seeds and traits, with 2008 net sales of $11.3 billion. Financial highlights show significant growth in net income, earnings per share, EBIT, and free cash flow over the period. The document also provides a reconciliation of non-GAAP earnings per share and notes that approximately half of Monsanto's 2008 net sales came from North America.
This document provides supplemental information for investors regarding Monsanto Company, including forward-looking statements and selected financial highlights from 2005-2008. Key points include that Monsanto is the world's leading agriculture company focused on seeds and traits, with 2008 net sales of $11.3 billion, net income of $2 billion, and diluted earnings per share of $3.62. The document also provides a reconciliation of non-GAAP earnings measures and notes that over half of Monsanto's 2008 net sales came from North America.
Monsanto's corn seeds and traits generated 56% of sales and 62% of gross profit in 2008. Key corn products include DEKALB hybrid seeds and popular biotech traits such as YieldGard Corn Borer, Roundup Ready Corn 2, and YieldGard Rootworm. These traits help control pests and weeds and have seen strong adoption rates in major markets like the US, Brazil, and Argentina. Looking ahead, newer "triple stack" products that combine multiple traits are gaining traction.
Monsanto's corn seeds and traits generated 56% of sales and 62% of gross profit in 2008. Key products include DEKALB hybrid corn seed, Roundup Ready corn traits which provide herbicide tolerance, and YieldGard traits which provide insect protection. YieldGard traits have been adopted on over 100 million acres since 1997 and reduce the need for insecticide applications. Roundup Ready traits have been adopted on over 150 million acres since 1998 and simplify weed control. New triple-stack traits combine herbicide tolerance and insect protection.
Monsanto's corn seeds and traits generated 56% of sales and 62% of gross profit in 2008. Key products include DEKALB hybrid corn seed, Roundup Ready corn traits which provide herbicide tolerance, and YieldGard traits which provide insect protection. YieldGard traits have been adopted on over 100 million acres since 1997 and reduce the need for insecticide applications. Roundup Ready traits have been adopted on over 150 million acres since 1998 and simplify weed control. New triple-stack traits combine herbicide tolerance and insect protection.
Similar to pilgrim's pride Final%20Slideshow%20Q2%20FY2008 (20)
Smurfit-Stone reported a net loss of $19 million for Q1 2005, an improvement from a $66 million loss in Q1 2004. Net sales increased 8% to $2.1 billion. The company continued to face cost pressures from higher energy, fiber, and employee benefit costs which narrowed margins. However, demand was improving and costs were expected to moderate for the rest of the year, leading the company to expect a return to profitability in Q2 2005.
Smurfit-Stone Container Corporation reported second quarter 2005 net income of $1 million, an improvement from a $10 million net loss in the second quarter of 2004. Sales increased to $2.2 billion from $2 billion in the prior year period. For the first half of 2005, the company reported a net loss of $18 million, an improvement from a $76 million net loss in the first half of 2004, with sales of $4.2 billion compared to $4 billion in the prior year. The company expects third quarter results to be negatively impacted by unfavorable pricing trends but anticipates increased packaging demand in the seasonally strong period.
Smurfit-Stone Container Corporation reported a net loss of $229 million or $0.90 per share for Q3 2005, primarily due to a $293 million pretax restructuring charge related to mill closures in Canada and a paper machine closure. Net sales were $2.1 billion, down from $2.2 billion in Q3 2004. For the first nine months of 2005, the net loss was $247 million or $0.97 per share, compared to a net loss of $48 million or $0.19 per share for the same period in 2004. The company expects costs to increase in Q4 due to higher energy and freight expenses, while average corrugated prices are expected to
- Smurfit-Stone Container Corporation reported a net loss of $92 million for Q4 2005 and a net loss of $339 million for the full year 2005.
- Market conditions were unfavorable in the first half of 2005 with declining containerboard and corrugated prices but began to improve in Q4 2005. However, higher energy and fiber costs negatively impacted results.
- The company expects better comparisons going forward as market conditions improve but not meaningful sequential earnings growth in Q1 2006 due to seasonal factors and cost pressures.
- Smurfit-Stone Container Corporation reported a net loss of $64 million for Q1 2006 compared to a net loss of $19 million in Q1 2005.
- Net sales were $2.1 billion for Q1 2006, comparable to Q1 2005. However, higher costs such as energy and freight, as well as lower containerboard and corrugated prices, negatively impacted year-over-year results.
- The company expects results to improve in Q2 2006 but not reach breakeven, and anticipates returning to profitability in Q3 2006 as prices have rebounded and benefits from strategic initiatives continue.
Smurfit-Stone Container Corporation reported financial results for the second quarter of 2006. The company reported a net loss of $44 million compared to net income of $1 million in the second quarter of 2005. Sales were flat at $1.76 billion. For the first half of 2006 the company reported a net loss of $108 million compared to a net loss of $18 million in the first half of 2005, with sales of $3.5 billion, consistent with the previous year. The company's containerboard and corrugated containers segment saw improved operating profits compared to the previous quarter and previous year.
1) Smurfit-Stone Container Corporation reported a net income of $22 million or $0.09 per diluted share for Q4 2006, compared to a net loss of $0.36 per diluted share in Q4 2005.
2) For full year 2006, Smurfit-Stone reported a net loss of $71 million or $0.28 per diluted share, an improvement from a net loss of $339 million or $1.33 per diluted share in 2005.
3) The company exceeded its cost reduction target for 2006 from its strategic initiatives program, achieving $243 million in savings, and expects further meaningful earnings growth in 2007.
1) Smurfit-Stone Container Corporation reported a net loss of $55 million for the first quarter of 2007 compared to a net loss of $0.25 per share in the first quarter of 2006.
2) The company announced plans to close two containerboard mills with 200,000 tons of annual capacity and restart a previously idled paper machine with 170,000 tons of annual capacity to realign its mill system.
3) While costs increased due to higher wood and recycled fiber prices, the company expects improved second quarter results and a return to profitability due to moderating costs and stronger demand.
Smurfit-Stone Container Corporation reported financial results for the second quarter of 2007, with the following highlights:
1) Operating profits were up 59% from the previous quarter and 16% from the second quarter of 2006, driven by higher average prices across major product lines.
2) Sales increased 6% year-over-year to $1.87 billion for the second quarter.
3) The company expects higher mill production and continued price improvements to drive further financial gains in the third quarter.
Smurfit-Stone Container Corporation reported improved financial results in the third quarter of 2007 compared to the previous quarter:
- Adjusted net income nearly doubled from the second quarter, reaching $28 million.
- Strategic initiatives led to $18 million in quarterly benefits from cost reductions.
- Debt was reduced by $328 million through the sale of the Brewton, Alabama mill.
While earnings are expected to decrease in the fourth quarter due to seasonal factors, management expects ongoing benefits from strategic cost cutting initiatives and capital investments to drive continued margin improvements.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
2. Cautionary Notes and Forward-Looking Statements
Statements contained in this presentation that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim's
Pride Corporation and its management, including as to the expected benefits and synergies associated with the acquisition of Gold Kist and changes in pricing,
demand and market conditions for chicken products and profitability, are forward-looking statements. It is important to note that the actual results could differ
materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such
forward-looking statements include: matters affecting the poultry industry generally, including fluctuations in the commodity prices of feed ingredients, chicken
and turkey; additional outbreaks of avian influenza or other diseases, either in our own flocks or elsewhere, affecting our ability to conduct our operations
and/or demand for our poultry products; contamination of our products, which has previously and can in the future lead to product liability claims and product
recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive,
limited and potentially inadequate; management of our cash resources, particularly in light of our substantial leverage; restrictions imposed by, and as a result
of, our substantial leverage; changes in laws or regulations affecting our operations or the application thereof; competitive factors and pricing pressures or the
loss of one or more of our largest customers; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation
that cause our costs of doing business to increase, cause us to change the way we do business, or otherwise disrupt our operations; inability to consummate,
or effectively integrate, any acquisition, including integrating our recent acquisition of Gold Kist, or realize the associated cost savings and operating synergies
currently anticipated; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations;
disruptions in international markets and distribution channels; and the impact of uncertainties of litigation as well as other risks described under quot;Risk Factorsquot;
in our Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim's Pride Corporation undertakes no obligation
to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Unless the context otherwise requires, the pro forma financial information referenced in this presentation assumes that we completed the acquisition of Gold
Kist and the related financings at the beginning of the period presented. Please see our Annual Report on Form 10-K for the fiscal year ended September 29,
2007 filed with the Securities and Exchange Commission on November 19, 2007.
We have included certain information regarding our results of operations and components thereof that have been adjusted to exclude accounting adjustments
relating to our benefit plans, to exclude losses on early extinguishment of debt, to exclude the effects of discontinued operations in connection with the sale of
the company’s turkey business, and to exclude asset impairment and restructuring charges in connection with the closures of the company’s Siler City
processing facility and six distribution centers. We have included this information as we believe that investors may be interested in our results excluding these
items as this is how our management analyzes our results from continuing operations.
“EBITDA” is defined as net income plus interest, income taxes, depreciation and amortization (excluding amortization of capitalized financing costs). Our
method of computation may or may not be comparable to other similarly titled measures used in filings with the SEC by other companies. See the
consolidated statements of income and consolidated statements of cash flows included in our financial statements. EBITDA is presented because we believe it
provides meaningful additional information concerning a company’s operating results and its ability to service long-term debt and to fund its growth, and we
believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of results under U.S. Generally Accepted
Accounting Principles (GAAP), to compare the performance of companies. EBITDA is not a measurement of financial performance under GAAP and should not
be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of our operating
performance or any other measures of performance derived in accordance with GAAP.
2
3. 2nd Quarter & Fiscal Year-to-Date Overview
Net loss $1.67 per share vs. net loss of $0.60 per share in the 2nd Quarter of
•
2007.
– Results include asset impairment and restructuring charges of $17.7 million,
$11.1 million net of tax, or $0.17 per share, related to the closing of the
Siler City, NC processing plant and six distribution centers.
• Feed ingredient costs represent most significant challenge
– PPC 2nd quarter corn & soybean meal costs up $200 million vs. prior year same
period
– Feed represented 39.5% of COGS, up from 36.5% in Q1 2008
• Sold turkey business in March
• Announced closings of Siler City, NC processing plant & 6 distribution
centers
• Production cutbacks announced
– 5% reduction for the second half of fiscal 2008
3
5. Unutilized Industry Capacity
Millions of Head
Unused Capacity - Announced Cutbacks 5.0
Low Cost Incremental Capacity
19% of Industry (26 million Head/Week) times 178% 20.4
Total pent-up/low cost capacity 25.4
Past 5-year Average Growth in Head Slaughtered/Week 1.53
16.6
Years Growth Available
* The remaining 81% of the industry is split, with 69% running at 140 bpm and
31% running at 91 bpm. Accordingly, we used this ratio to compute the
124.8 bpm average, or 78.3% increase.
5
6. Production Cutbacks & Seasonal Demand Should Lead
to Improved Market Pricing
UB Boneless Skinless Breast Meat Pricing Recent UB Boneless Skinless Breast Meat Pricing April Avg. Price
$2.00
$2.00
Q2 FY08 $1.41
$1.88
$1.88
2007 $1.75
Q2 FY07 $1.47
$1.75 $1.75
$1.63 $1.63
2008 $1.43
$1.50 $1.50
$1.38
$1.38
$1.25
$1.25
$1.13 2006 $1.05
$1.13
$1.00
$1.00
$0.88
$0.88
$0.75
$0.75
08
08
8
8
8
8
8
8
8
8
8
8
8
8
00
00
00
00
00
00
00
00
00
00
00
00
20
20
J F M A M* J J A S O N D
/2
/2
/2
/2
/2
/2
/2
/2
/2
/2
/2
/2
1/
2/
15
16
17
18
21
22
23
24
25
28
29
30
5/
5/
4/
4/
4/
4/
4/
4/
4/
4/
4/
4/
4/
4/
2006 2007 2008 2006 2007 2008
UB Leg Quarter Pricing
UB Georgia Dock Pricing
Q2 FY08 $0.79 $0.60
$0.85
Q2 FY08 $0.42
$0.55
$0.83 Q2 FY07 $0.74
Q2 FY07 $0.38
$0.50
$0.80
$0.45
$0.78
$0.40
$0.75
$0.35
$0.73
$0.30
$0.70
$0.25
$0.68
$0.20
$0.65
$0.15
$0.63
$0.10
$0.60
J F M A M* J J A S O N D
J F M A M* J J A S O N D
2006 2007 2008
2006 2007 2008
*MTD Average though May 2, 2008
6
9. Earnings Per Share
FY2008* FY2007** % Change
nd
2 Quarter
EPS ($1.67) ($0.60) -178%
EPS from Continuing Operations ($1.67) ($0.59) -183%
FY2008* FY2007** % Change
nd
2 Quarter YTD
EPS ($2.16) ($0.73) -196%
EPS from Continuing Operations ($2.17) ($0.73) -197%
FY2008* FY2007** % Change
Pro forma YTD
EPS ($2.16) ($1.25) -73%
EPS from Continuing Operations ($2.17) ($1.25) -74%
(*) Includes asset impairment charges of $12.0 million, or $0.12 per share, and restructuring charges of $5.7 million, or $0.06 per share in connection with the
closures of the company’s Siler City processing facility and six distribution centers in 2QFY2008.
(**) Includes a charge of $14.5 million, or $0.14 per share related to the early extinguishment of debt incurred by the company in connection with the financing
of the Gold Kist acquisition in Q2 FY2007.
9
10. Sales Segment – 2nd Quarter
Actual
($ in millions)
% Change
FY2008 FY2007
Chicken:
United States $ 1,723.0 $ 1,683.5 2.3%
Mexico 127.3 111.0 14.7%
Total Chicken Sales 1,850.3 1,794.5 3.1%
Sale of Other Products:
United States 243.9 188.7 29.3%
Mexico 6.6 4.0 65.0%
Total Sale of Other Products 250.5 192.7 30.0%
$ 2,100.8 $ 1,987.2 5.7%
Total Net Sales
10
11. Sales Segment – 2nd Quarter YTD
Actual Pro forma
($ in millions)
% Change %Change
FY2008 FY2007 FY2007
Chicken:
United States $ 3,451.1 $ 2,714.4 27.1% $ 3,229.3 6.9%
Mexico 248.3 234.0 6.1% 234.0 6.1%
Total Chicken Sales 3,699.4 2,948.4 25.5% 3,463.3 6.8%
Sale of Other Products:
United States 434.3 324.3 33.9% 336.6 29.0%
Mexico 14.4 6.5 123.8% 6.5 123.8%
Total Sale of Other Products 448.7 330.8 35.6% 343.1 30.8%
$ 4,148.1 $ 3,279.2 26.5% $ 3,806.4 9.0%
Total Net Sales
11
12. Results from Operations – 2nd Quarter
Actual
FY2008* FY2007** %Change
($ in millions, except per share figures)
Net Sales $ 2,100.8 $ 1,987.2 5.7%
Net (Loss) $ (111.4) $ (40.1) -177.8%
Net (Loss) from Continuing Operations $ (111.5) $ (39.1) -185.2%
EBITDA $ (83.4) $ 31.0 -369.0%
Adjusted EBITDA $ (65.8) $ 46.5 -241.4%
EBITDA Reconciliation
$ (111.4) $ (40.1)
Net (Loss)
Add:
Income tax (benefit) expense (64.3) (19.4)
Interest expense, net 33.3 37.0
Depreciation and amortization 60.1 54.6
Minus:
Amortization of capitalized financing costs 1.1 1.1
EBITDA $ (83.4) $ 31.0 -369.0%
-3.97% 1.56%
EBITDA Margin
Adjustments
Discontinued Operations (0.1) 1.0
Asset Impairment 12.0 -
Restructuring 5.7 -
Loss on early extinguishment of debt - 14.5
EBITDA - Adjusted $ (65.8) $ 46.5 -241.4%
EBITDA Margin - Adjusted -3.13% 2.34%
(*) Included in Q2 FY2008 net income is a loss of ($0.8) million from operation of discontinued business and a $0.9 million gain on sale of discontinued business.
(**) Included in Q1 FY 2007 net income is a loss of ($1.0) million from operation of discontinued business.
12
13. Results from Operations – 2nd Quarter YTD
Actual Pro forma
FY2008* FY2007 %Change FY2007 % Change
($ in millions, except per share figures)
Net Sales $ 4,148.1 $ 3,279.1 26.5% $ 3,807.0 9.0%
Net Income (Loss) $ (143.8) $ (48.8) -194.7% $ (83.0) -73.3%
Net Income (Loss) from Continuing Operations $ (144.7) $ (48.9) -195.9% $ (83.0) -74.3%
EBITDA $ (24.6) $ 59.8 -141.1% $ 56.1 -143.9%
-110.5% -111.1%
Adjusted EBITDA $ (7.8) $ 74.2 $ 70.5
EBITDA Reconciliation
$ (143.8) $ (48.8) $ (83.0)
Net (Loss) Income
Add:
Income tax (benefit) expense (57.1) (25.9) (46.6)
Interest expense, net 62.8 49.4 75.2
Depreciation and amortization 115.6 86.9 112.8
Minus:
Amortization of capitalized financing costs 2.1 1.8 2.3
EBITDA $ (24.6) $ 59.8 -141.1% $ 56.1 -143.9%
-0.59% 1.82% 1.47%
EBITDA Margin
Adjustments
Discontinued Operations (0.9) (0.1) (0.1)
Asset Impairment 12.0 - -
Restructuring 5.7 - -
Loss on early extinguishment of debt - 14.5 14.5
EBITDA - Adjusted $ (7.8) $ 74.2 $ 70.5
EBITDA Margin - Adjusted -0.19% 2.26% 1.85%
(*) Q2 FYTD 2008 Net Income includes a non-recurring income tax expense of approximately $13.0 million, or $0.20 per share, related to an adjustment in
13
deferred taxes as a result of a newly enacted tax law in Mexico in Q1 FY2008.
14. Summary Operating Results – 2nd Quarter
Actual
($ in millions)
FY2008* FY2007
Operating Income (Loss):
Chicken:
United States $ (174.3) $ (2.9)
Mexico (3.7) (12.6)
Total Chicken (178.0) (15.5)
Other Products:
United States 33.5 4.3
Mexico 0.9 0.5
Total Other Products 34.4 4.8
GAAP Operating Income (Loss): $ (143.6) $ (10.7)
Operating Margin -6.8% -0.5%
(*) Includes asset impairment charges of $12.0 million, or $0.12 per share, and restructuring charges of $5.7 million, or $0.06 per share in connection with the
closures of the company’s Siler City processing facility and six distribution centers in 2QFY2008.
14
15. Summary Operating Results – 2nd Quarter YTD
Actual Pro forma
($ in millions)
FY2008* FY2007 FY2007
Operating Income (Loss):
Chicken:
United States $ (193.4) $ (13.8) $ (44.9)
Mexico (7.8) (11.3) (11.3)
Total Chicken (201.2) (25.1) (56.2)
Other Products:
United States 56.2 8.4 9.0
Mexico 2.0 1.1 1.1
Total Other Products 58.2 9.5 10.1
GAAP Operating Income (Loss): $ (143.0) $ (15.6) $ (46.1)
Operating Margin -3.4% -0.5% -1.2%
(*) Includes asset impairment charges of $12.0 million, or $0.12 per share, and restructuring charges of $5.7 million, or $0.06 per share in connection with the
closures of the company’s Siler City processing facility and six distribution centers in 2QFY2008.
15
16. Long-term Debt
($ in thousands) March 29, 2008 September 29, 2007
Final Facility Final Facility
Maturity Outstanding Available Total Maturity Outstanding Available Total
Senior subordinated unsecured notes,
at interest at 7 5/8% 2015 400,000 -- 400,000 2015 400,000 -- 400,000
Senior subordinated notes, interest at 8 3/8% 2017 250,000 -- 250,000 2017 250,000 -- 250,000
Revolving term/credit facility with notes payable
2016 150,000 400,000 550,000 2016 -- 550,000 550,000
at LIBOR plus 1.75 - to - 2.75%*
Term Loan with bank at 6.84% (7.34%)* 2016 98,750 -- 98,750 2016 99,250 -- 99,250
Term loan with bank at 7.06% (7.54%)* 2016 108,900 -- 108,900 2016 109,725 -- 109,725
Voluntary converted loans at
LIBOR plus 1.00% - to - 3.00%* 2016 269,925 -- 269,925 2016 269,925 -- 269,925
Term floating loan at LIBOR plus 1.75 - to - 2.75%* 2016 143,725 -- 143,725 2016 143,725 -- 143,725
Mexico revolving credit facility 2011 52,116 -- 52,116 2011 26,293 23,707 50,000
Other notes payable VAR 22,405 -- 22,541 VAR 22,512 -- 22,512
1,495,821 $ 400,000 $ 1,895,957 1,321,430 $ 573,707 $ 1,895,137
Less current maturities 2,891 2,872
Total Long-term debt $ 1,492,930 $ 1,318,558
*Temporary rates and LIBOR ranges are adjusted to reflect the amendments effective May 1, 2008 through FY2009
16
17. Other Credit Facilities
March 29, 2008 September 29, 2007
($ in thousands)
Final Facility Final Facility
Maturity Outstanding Available Maturity Outstanding Available
Total Total
Domestic Revolving Credit Facility
at LIBOR plus 0.75% to LIBOR plus 2.75%* 2013 2013
$ 137,000 $ 76,400 $ 300,000 $ - $ 215,133 $ 300,000
$ 1,632,821 $ 476,400 $ 2,195,957 $ 1,321,430 $ 788,840 $ 2,195,137
Total Debt
Receivables Purchase Agreement 2012 $ 270,600 $ 17,500 $ 300,000 2012 $ 300,000 $ - $ 300,000
$ 1,903,421 $ 493,900 $ 2,495,957 $ 1,621,430 $ 788,840 $ 2,495,137
Total Debt and Receivable Purchase Facilities
*Temporary rates and LIBOR ranges are adjusted to reflect the amendments effective May 1, 2008 through FY2009
17
18. Temporary Financial Covenant Changes
New Requirement
Original Actual Q3 FY2008 - Return to Original
Ratios Adjusted: Q4 FY2009
Requirement Q2 FY 2008 Q3 FY2009 Q1 FY2010
Leverage Ratio 65.00% 59.98% 70.00% 70.00% 65.00%
$300,000 to 50% of
Tangible Net Worth $423,508 $451,790 $250,000 $300,000
Net Income
Net Tangible Assets to TL 112.50% 115.80% 105.00% 110.00% 112.50%
Fixed Charge Coverage 150.00% 193.50% 125.00% 125.00% 150.00%
Other Ratios:
Current Ratio 1.35 1.64
Net Working Capital $250,000 $581,404
18
19. Dramatic Shift in Corn Use Pits Food vs. Fuel
Corn Component Demand as a % of Total Use
70.0%
60.0%
50.0%
% of Total Use
40.0%
30.0%
20.0%
10.0%
0.0%
99/00 00/01 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09*
Feed Food Seed & Industrial (less ethanol) Exports Ethanol
’08/09 Projection based on USDA Outlook Demand – Source USDA
19
20. PPC Commodity Index Driven by Ag Component
PPC Commodity Index
300
Baseline: January 2002 = 100
280
Total PPC Index
260 Ag Component
Weighted avg. basket including: Energy Component
240
Corn, soybean meal, soft wheat, soy oil, #2 diesel
220 and natural gas
200
180
160
140
120
100
80
60
40
20
0
1/7/2002
4/7/2002
7/7/2002
1/7/2003
4/7/2003
7/7/2003
1/7/2004
4/7/2004
7/7/2004
1/7/2005
4/7/2005
7/7/2005
1/7/2006
4/7/2006
7/7/2006
1/7/2007
4/7/2007
7/7/2007
1/7/2008
4/7/2008
10/7/2002
10/7/2003
10/7/2004
10/7/2005
10/7/2006
10/7/2007
20