Sanderson Farms posts surprise profit

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anderson Farms Inc. logged a profit for the first fiscal quarter and a 10% bump in its net sales.

The Mississippi-based company reported a $9.5 million profit in the three months ended Jan. 31 compared with a $38.6 million loss a year earlier. The company’s profit was 42 cents a share, compared with a loss of $1.76 a share a year ago. Wall Street, according to FactSet, was expecting the company to report a loss.

Net sales were $909.3 million, up from $823.1 million a year ago. Analysts were expecting $843.2 million.

Sanderson said that compared with a year ago, overall market prices for poultry products were up.

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