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Sanderson Farms fiscal Q2 profit climbs 40.0% YOY

Sanderson Farms Inc. said its normalized net income for the fiscal second quarter ended April 30 was $3.05 per share, compared with the S&P Capital IQ consensus estimate of $3.29 per share.

EPS increased 40.7% year over year from $2.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $68.0 million, a gain of 40.0% from $48.6 million in the year-earlier period.

The normalized profit margin rose to 9.5% from 7.4% in the year-earlier period.

Total revenue increased 8.5% on an annual basis to $716.6 million from $660.7 million, and total operating expenses increased from the prior-year period to $607.1 million from $582.2 million.

Reported net income rose 40.9% on an annual basis to $69.9 million, or $3.13 per share, from $49.6 million, or $2.21 per share.