Sanderson Farms Q2 Earnings Top Estimates

• Sanderson Farms Inc (NASDAQ:SAFM) reported second-quarter FY22 revenue growth of 35.8% year-over-year to $1.54 billion, beating the consensus of $1.39 billion.
• Selling, general and administrative expenses rose 3.3% Y/Y to $66.3 million.
• The operating margin was 27.4%, and operating income for the quarter jumped 230% to $421.5 million.
• Related: Cargill, Continental Grain To Acquire Sanderson Farms For $4.5B
• The company held $829.1 million in cash and equivalents as of April 30, 2022. Cash provided by operating activities for six months ended April 30, 2022, totaled $474.8 million.
• EPS of $14.39 beat the analyst consensus of $7.62.
• Price Action: SAFM shares are trading higher by 2.74% at $199.81 on the last check Friday.