Sanderson Farms, Inc. (NASDAQ:SAFM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.74%.
Sanderson Farms, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 136% to $2.95 in the quarter versus EPS of $1.25 in the year-earlier quarter.
Revenue: Rose 18.25% to $738.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sanderson Farms, Inc. reported adjusted EPS income of $2.95 per share. By that measure, the company beat the mean analyst estimate of $2.62. It beat the average revenue estimate of $722.45 million.
Quoting Management: “Sanderson Farms’ financial results for the third quarter of fiscal 2013 reflect improved market conditions when compared to last year’s third quarter,” said Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc. “Market prices for poultry products were higher than the third quarter of fiscal 2012, as the Georgia Dock whole bird price remained historically high during the quarter. The Georgia Dock price reflects steady retail grocery store demand. In addition, market prices for wings, while below last year’s third quarter levels, improved during the quarter. Boneless breast meat prices remained well above last year’s prices and peaked in May as several quick serve restaurants and other food service establishments featured chicken on their menus.”
Key Stats (on next page)…