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Sanderson Farms fiscal Q1 profit climbs YOY

Sanderson Farms Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to $2.85 per share, compared with the S&P Capital IQ consensus estimate of $3.03 per share.

EPS rose year over year from $1.26.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $64.2 million, an increase from $28.3 million in the prior-year period.

The normalized profit margin climbed to 9.6% from 4.8% in the year-earlier period.

Total revenue increased 14.1% year over year to $667.4 million from $584.9 million, and total operating expenses rose year over year to $564.3 million from $538.7 million.

Reported net income rose from the prior-year period to $64.7 million, or $2.87 per share, from $28.0 million, or $1.25 per share.