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Sanderson Farms Beats Q3 Estimates

By Warren Paige

Sanderson Farms Inc. (NASDAQ: SAFM) reported sharp jump in fiscal third quarter earnings. The poultry producer’s bottom line was bolstered by higher prices of chicken products. In the latest period, overall poultry prices increased 12% while prices of boneless chicken breasts soared 32% from the year-earlier quarter. The earnings stood at $67.9 million or $2.95 a share compared to a profit of $28.7 million or $1.25 a share, in the same quarter of last year. Sales jumped 18% to $739 million. Both earnings and revenue best Street’s expectations. Analysts expected earnings of $2.62 a share on revenue of $722 million.

August 27th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.