Sanderson Farms saw its earnings soar in the third quarter, boosted by improved market conditions and higher poultry prices.
In the three months ended 31 July, net income reached US$67.9m, reflecting higher prices for its poultry products. This compared to earnings of $28.7m a year earlier, the company said today (27 August).
Operating profit jumped to $104.4m from $48.9m in the comparable period of the prior year. Sales were up 18.2% to $739m.
Sanderson said the company benefited from “improved” market conditions when compared to last year’s third quarter and higher market prices for poultry.
Click here to view the full earnings release.
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