China New Borun Corporation (BORN) Reports Q2 EPS of $0.10 on Revenues of $81.9M; Offers 3Q Revenue Guidance

China New Borun Corporation (NYSE: BORN) reported Q2 EPS of $0.10. Revenue for the quarter came in at $81.9 million.

Financial Outlook

For the third quarter of 2017, the Company\'s Shandong facility will halt production for approximately two weeks, and the Daqing facility will halt production for up to four weeks for annual maintenance. Comparatively, in the third quarter of 2016, the Company\'s Shandong and Daqing facilities did not halt production, as the Company had already completed annual maintenance in the second quarter of 2016. Reflecting the comparatively shorter year-over-year production period, the Company estimates that its revenue for the third quarter of 2017 will be in the range of RMB380 million ($56.1 million) to RMB420 million ($62.0 million), a decrease of approximately 36.9% to approximately 30.3%, respectively, over the same quarter of 2016.

This guidance is based on the current market conditions and reflects the Company\'s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

GUIDANCE:

China New Borun Corporation sees Q3 2017 revenue of $56.1-62 billion.

For earnings history and earnings-related data on China New Borun Corporation (BORN) click here.

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