AgFeed Industries surges on better-than-expected Q2, raises full year guidance
Shares of AgFeed Industries, Inc. (Nasdaq:FEED) are jumping on heightened volume in pre-market trading after the Chinese commercial hog producer and premix feed company posted second-quarter results that soared from a year ago and bested the consensus on Wall Street. The small cap also raised its full year guidance that also trumped analysts’ mean estimates. AgFeed did note that guidance is contingent upon anticipated closings of already identified potential hog farm acquisition targets.
The company saw revenues rocket 417% and net income soar 350%, as it expanded retail chain store sales, broadened commercial hog farm direct sales channels, and expanded brand awareness of AgFeed’s quality of products. Results were also owed to successful integration of recently acquired producing hog farms.
Shares surged 21%, or $2.64, to $15.20 in pre-market trading. For detailed price information and recent news stories about AgFeed Industries, click FEED.
About the Author
Reporter Jennifer Schonberger is based in SmallCapInvestor.com's Washington, D.C. bureau.
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Aug 24 11:22am
What time frame is this reviewer considering? Short time does not seem promising, and longer term has too many "if's."
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