Sanderson Farms Reports Results for First Quarter of Fiscal 2020
Sanderson Farms, Inc. reported results for the first quarter of fiscal 2020.
Net sales for the first quarter of fiscal 2020 were $823.1 million compared with $743.4 million for the same period a year ago. The Company reported a net loss of $38.6 million, or $1.76 per share, for the quarter compared with a net loss of $17.8 million, or $0.82 per share, for the first quarter of fiscal 2019.
“Our results for the first quarter reflect continued challenging market conditions with market prices for boneless breast meat produced at our plants that process larger birds for food service customers reaching record low levels in January,” said Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc. “However, average prices for tray pack products sold to...
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