Sanderson Farms (SAFM) Misses Q1 EPS by 40c

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Sanderson Farms, Inc. Reports Results for First Quarter of Fiscal 2017

February 23, 2017 7:00 AM EST

LAUREL, Miss.--(BUSINESS WIRE)-- Sanderson Farms, Inc. (NASDAQ: SAFM) today reported results for the first quarter of fiscal 2017 ended January 31, 2017.

Net sales for the first quarter of fiscal 2017 were $688.3 million compared with $605.2 million for the same period a year ago. The Company reported net income of $23.2 million, or $1.02 per share, for the quarter compared with net income of $10.7 million, or $0.47 per share, for the first quarter of fiscal 2016.

"Our results for the first quarter reflect improved market prices for dark meat products sold from our big bird deboning plants... More