The Kansas City-based beef processor said in a filing that it earned $74.3 million during the quarter ending May 31, compared with $13.6 million for the same period last year.
Sales for the company reportedly rose
Sales during the quarter rose 3.4 percent, from $1.48 billion to $1.53 billion, which the company attributed to an extra week during the period and increased beef demand, offsetting a 7 percent decline in the amount of cattle processed per week.
Expenses and cost of sales dipped slightly to $1.45 billion. The company said live cattle prices during the quarter declined 5.8 percent and average cattle weights increased 2.1 percent.
Source: Associated Press