Sanderson Farms (SAFM) Tops Q4 EPS by 70c

Sanderson Farms (NASDAQ: SAFM) reported Q4 EPS of $3.36, $0.70 better than the analyst estimate of $2.66. Revenue for the quarter came in at $790.8 million versus the consensus estimate of $791.11 million.

"The fourth quarter marked the end of another successful year for Sanderson Farms,” said Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc. “Market conditions strengthened at the beginning of our fourth fiscal quarter of 2016, although market prices declined seasonally after Labor Day. We reported record annual sales despite a decline in overall poultry market prices compared with fiscal 2015, which decline was especially pronounced during the first half of the year. Grain prices were lower during the year when compared with fiscal 2015. For the year, we sold 3.731 billion pounds of dressed poultry, another record, compared with 3.418 billion pounds in fiscal 2015.”

For earnings history and earnings-related data on Sanderson Farms (SAFM) click here.

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