UPDATE: Sanderson Swings To FQ2 Loss

Sanderson Farms Inc SAFM swung to a fiscal second-quarter net loss, from a profit in the year-ago period. Sanderson Farms reported a FQ2 loss at $16.3 million, or $0.74 per share, versus a profit of $35.1 million, or $1.62 per share, in the year-earlier period. The company's sales dropped 1.6% to $479.3 million. Excluding a $6 million charge to reduce the value of live inventory, the company's loss came in at $0.56 per share. However, analysts were expecting a loss of $0.84 per share on revenue of $469.02 million. SAFM shares dropped 2.71% to close at $45.99 yesterday. Read more from Benzinga's Company news.