Revenue during the quarter grew 15.89 percent to $802.04 million from $692.09 million in the previous year period. Gross margin for the quarter expanded 185 basis points over the previous year period to 18.30 percent. Total expenses were 87.14 percent of quarterly revenues, down from 89.34 percent for the same period last year. This has led to an improvement of 220 basis points in operating margin to 12.86 percent.

Operating income for the quarter was $103.11 million, compared with $73.77 million in the previous year period.

"The results for our second quarter of fiscal 2017 reflect benign feed costs, continued favorable demand for poultry products from retail grocery store customers, higher volume, and an improving export environment," said Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc. "Our sales price per pound increased during the first half of this fiscal year compared with last year as market prices improved steadily through the second fiscal quarter. Poultry export market fundamentals improved, market demand for wings improved counter seasonally, and market prices for boneless breast meat improved significantly during the second half of April and have continued to move higher into May."

Cash conversion cycle (CCC) has decreased to 20 days for the quarter from 36 days for the last year period. Days sales outstanding went down to 14 days for the quarter compared with 16 days for the same period last year.

Days inventory outstanding has decreased to 16 days for the quarter compared with 33 days for the previous year period. At the same time, days payable outstanding went down to 10 days for the quarter from 12 for the same period last year.