Sanderson Farms (SAFM) Tops Q1 EPS by 2c

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Go back to Sanderson Farms (SAFM) Tops Q1 EPS by 2c

Sanderson Farms, Inc. Reports Results for First Quarter of Fiscal 2016

February 25, 2016 7:30 AM EST

LAUREL, Miss.--(BUSINESS WIRE)-- Sanderson Farms, Inc. (NASDAQ: SAFM) today reported results for the first quarter of fiscal 2016 ended January 31, 2016.

Net sales for the first quarter of fiscal 2016 were $605.2 million compared with $667.4 million for the same period a year ago. The Company reported net income of $10.7 million, or $0.47 per share, for the quarter compared with net income of $66.5 million, or $2.87 per share, for the first quarter of fiscal 2015.

"Our results for the first quarter reflect significantly weaker market prices for products sold from our big bird deboning plants compared... More