LONDON, UK / ACCESSWIRE / September 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Sanderson Farms, Inc. (NASDAQ: SAFM), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SAFM, following the Company's disclosure of its financial results on August 24, 2017, for the third quarter of the fiscal year 2017. The Company's net revenue increased 28% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For the three months ended July 31, 2017, Sanderson Farms' net revenue increased 28% to $931.90 million from $727.99 million in Q3 FY16, due to increased market prices of fresh chicken products such as bulk leg quarters, boneless breast meat, and jumbo wings, and higher volumes. The net revenue surpassed analysts' expectations of $903.0 million.

During Q3 FY17, the Company's jumbo boneless breast meat prices increased 24.8% to $1.61 per pound on a y-o-y basis from $1.29 per pound in Q3 FY16. During Q3 FY17, the Company's market price for bulk leg quarters increased 15.9% to $0.39 per pound on a y-o-y basis from $0.33 per pound in Q3 FY16. For the reported quarter, the Company's jumbo wing prices increased 40.2% to $2.0 per pound on a y-o-y basis from $1.42 per pound in Q3 FY16.

During Q3 FY17, Sanderson Farms' cost of sales increased 15.7% to $692.59 million from $598.56 million in Q3 FY16. During Q3 FY17, the Company's selling, general, and administrative expenses (SG&A) increased 39.2% to $62.04 million from $44.57 million in Q3 FY16.

For the reported quarter, the Company's operating income increased 108.9% to $177.28 million from $84.86 million in Q3 FY16. For the reported quarter, Sanderson Farms' operating margin increased 730 basis points to 19% of revenue from 11.7% of revenue in Q3 FY16.

During Q3 FY17, the Company's interest expenses increased 20.3% to $515 million from $428 million in Q3 FY16.

During Q3 FY17, Sanderson Farms' net income increased 111.68% to $115.83 million on a y-o-y basis from $54.72 million in Q3 FY16. During Q3 FY17, Sanderson Farms' diluted earnings per share (EPS) increased 110.3% to $5.09 from $2.42 in Q3 FY16. The diluted EPS surpassed analysts' expectations of $3.90.

Balance Sheet

As on July 31, 2017, Sanderson Farms' cash and cash equivalents increased 70.1% to $398.27 million from $234.11 million in Q4 FY16.

During Q3 FY17, the Company's net accounts receivable increased 21.4% to $151.00 million from $124.35 million in Q4 FY16.

For the reported quarter, the Company's inventories increased 16.3% to $256.14 million from $220.31 million in Q4 FY16.

During Q3 FY17, Sanderson Farms' total assets increased 20.4% to $1.71 billion from $1.42 billion in Q4 FY16.

During Q3 FY17, Sanderson Farms' accounts payable increased 8.6% to $79.03 million from $72.77 million in Q4 FY16.

For the reported quarter, the Company's YTD cash provided by operating activities was $310.1 million compared to $195 million in the same period of last year.

For the reported quarter, Sanderson Farms' YTD capital expenditure was $130.6 million compared to $126.1 million in the same period of last year.

Stock Performance

Sanderson Farms' share price finished yesterday's trading session at $155.34, advancing 1.09%. A total volume of 398.11 thousand shares have exchanged hands, which was higher than the 3-month average volume of 382.29 thousand shares. The Company's stock price skyrocketed 20.87% in the last three months, 65.41% in the past six months, and 67.32% in the previous twelve months. Additionally, the stock soared 64.83% since the start of the year. Shares of the Company have a PE ratio of 12.47 and have a dividend yield of 0.62%. The stock currently has a market cap of $3.52 billion.

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SOURCE: Pro-Trader Daily