US: Sanderson Farms shares jump on Q2 profit rise
Sanderson Farms has seen a rise in Q2 profits as demand for chicken grows and grain prices remain stable
Lower grain costs and increased demand in poultry products have seen Sanderson Farms post higher second-quarter sales and earnings.
For the period ended 30 April, the US poultry producer reported a net profit of US$51m compared with $24m a year earlier.
Operating income stood at $78.4m, versus $39m for the same period a year earlier.
Sales also increased to $660m compared with $621m.
CEO Joe Sanderson said he was "reasonably optimistic" as the firm headed into the summer months, "typically the peak demand period for chicken".
Shares in Sanderson were up 3.22% at $90.48 per share today (29 May) as of 10:33 ET.
Click here for the full results.
- Nestle catering for an ageing global population
- What post-Brexit trade with the EU could look like
- Unilever is "working harder" in tough environment
- What next for Nestle under new CEO Schneider?
- What delay means for UK child obesity strategy
- Kerry Foods sets its sights on C-sector
- Kar's gets Non-GMO verification for Second Nature
- Tesco drops John West products over sustainability
- Greencore pays GBP15m for Cranswick sandwich unit
- Job cuts imminent as General Mills restructures