UPDATE: Sanderson Farms Posts Higher Q3 Profit

Sanderson Farms

reported a rise in its third-quarter profit. Sanderson's quarterly profit surged to $67.9 million, or $2.95 per share, from $28.7 million, or $1.25 per share, in the year-ago period. Its revenue rose 18% to $739 million. However, analysts were expecting earnings of $2.62 per share on revenue of $722 million. Sanderson shares closed at $69.79 yesterday.