Sanderson Farms shares drop on third quarter predictions

Sanderson Farms Inc. shares dropped 4% on predictions that the company's third-quarter losses will be larger than originally forecast due to falling poultry prices and rising feed costs. Jefferies analyst Jeff Farmer estimated that the company will lose $1.25 per share in the third quarter, driven by an 11% decline in chicken prices and a 36% increase in feed costs, year over year.

August 22, 2011

Sanderson Farms Inc. shares dropped 4% on predictions that the company's third-quarter losses will be larger than originally forecast due to falling poultry prices and rising feed costs.

Jefferies analyst Jeff Farmer estimated that the company will lose $1.25 per share in the third quarter, driven by an 11% decline in chicken prices and a 36% increase in feed costs, year over year. Sanderson's stock fell 4.1%, to $38.78, in morning trading on August 22. According to Farmer, the company retains its "Buy" rating.

Sanderson is scheduled to release its quarterly results on August 25. The company has scheduled an online simulcast of its third-quarter earnings conference call for 10 a.m. CST, with an online replay available through September 1. Links to the event may be found at www.sandersonfarms.com and www.earnings.com.

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