Sanderson Farms Q2 Net Income Rises

Sanderson Farms, Inc. (SAFM) reported second-quarter net income of $321.2 million, or $14.39 per share, compared to $96.9 million, or $4.34 per share, prior year. The company said the increase in net income is primarily attributable to significantly higher average selling prices, partially offset by higher average costs of goods sold. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $7.62, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.54 billion, an increase of 35.8% from prior year. Net sales of poultry products were $1.46 billion, up 34.7%. Analysts on average had estimated $1.39 billion in revenue.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
MTD Products Inc. is recalling 1,774 units of walk-behind self-propelled lawn mowers for potential risk of fire hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the lawn mower can leak fuel when it is stored in the upright (vertical) storage position to pose a fire hazard. Nike Inc. announced its plans to exit the Russian market completely following Russia's ongoing war against Ukraine, reports said. The sportswear major, with more than 100 stores in the country, had suspended operations there in March. Earlier in March, while suspending operations temporarily, the company had said its customers that it couldn't guarantee product shipments. The U.S. Food and Drug Administration unveiled its action plan to advance drug development for rare neurodegenerative diseases, including Amyotrophic Lateral Sclerosis or ALS, in five years. The FDA plans specific actions such as regulatory science initiatives, enhancements to existing programs and new policy initiatives for the purpose. It will use public-private partnerships...
Follow RTT