Poultry producer Sanderson Farms swung to a loss for its fiscal second quarter of $16.3 million, or 74 cents per share, compared to a profit of $35.1 million, or $1.62 per share, last year.
The company's adjusted loss of 56 cents per share was much narrower than analysts anticipated. Revenue ticked slightly lower, to $479.3 million from $487.1 million last year.
) said its profitability was negatively impacted by 41% higher feed costs, which it expects will remain high for the rest of the year.
) said Tuesday it has hiked list prices for its U.S. coffee brands by an average of 11% due to sustained increases in green coffee costs.
Price increases will impact the Folgers, Folgers Gourmet Selections, Dunkin Donuts and Millstone brand names.
Market News Video produces and distributes online videos about stocks and investing.