$SAFM (Sanderson Farms, Inc.)

$SAFM {{ '2016-05-26T15:42:11+0000' | timeago}} • Webcast

Chicken processor $SAFM said that lower grain costs, continued good demand for chicken at retail grocery stores, higher volumes and improved export markets helped 2Q16 results. The company said that the market conditions improved rapidly in this spring than it anticipated and politics impacted its relationship with China.

$SAFM {{ '2017-05-25T17:18:36+0000' | timeago}} • Webcast

$SAFM's St. Pauls, North Carolina facility is progressing well and the company expects to reach full production during 1Q18. Additionally, $SAFM is scheduled to begin construction of its new Tyler, Texas, facility in 3Q17 and expects to open  the facility during 1Q19.

$SAFM {{ '2017-05-25T12:34:25+0000' | timeago}} • Announcement

$SAFM expects production during 3Q17 and 4Q17 to be up 13.6% and 11.7%, compared to last year. The increase reflects new production at new St. Pauls, North Carolina, and Palestine, Texas, complexes as well as additional pounds it expects to process as result of its prior agreement with House of Raeford Farms.

$SAFM {{ '2017-05-25T12:31:48+0000' | timeago}} • Announcement

$SAFM continues to expect grain prices to remain relatively benign for 2H17. The company said there are ample supplies of both corn and soybeans worldwide, and the planting progress of the 2017 corn and soybean crops remains close to average, despite a wet spring in the United States grain belt.

$SAFM {{ '2017-05-25T12:28:49+0000' | timeago}} • Announcement

$SAFM reported a jump in 2Q17 earnings reflecting benign feed costs, continued favorable demand for poultry products from retail grocery store customers, higher volume, and an improving export environment. Net income rose to $66.94MM or $2.94 per share from $47.6MM or $2.11 per share last year. Sales grew to $802.04MM from $692.09MM.

$SAFM {{ '2017-04-17T17:28:19+0000' | timeago}} • Announcement

$SAFM announced production agreement with House of Raeford Farms. $SAFM expects that the additional volume of processed pounds this arrangement will generate for its St. Pauls processing plant will be 20.4MM pounds in its 3Q17, 26.3MM pounds in its 4Q17, and 12.4MM pounds during its 1Q18.

$SAFM {{ '2017-04-17T17:26:39+0000' | timeago}} • Announcement

$SAFM signed an agreement to continue processing chickens grown by House of Raeford Farms at the Sanderson Farms poultry processing facility located in St. Pauls, North Carolina. $SAFM will purchase, process and sell chickens grown by House of Raeford Farms through mid-December 2017.

$SAFM {{ '2017-01-19T17:36:19+0000' | timeago}} • Announcement

$SAFM announced that its Board of Directors has declared a regular quarterly cash dividend of $0.24 per share payable February 14, 2017, to stockholders of record on January 31, 2017.

$SAFM {{ '2016-12-15T17:06:49+0000' | timeago}} • Webcast

$SAFM expects $160MM in SG&A for FY17, almost flat with FY16. This estimate includes non accrual for bonuses, ESOPs or additional performance stock compensation expenses. $SAFM also said it expects flat to lower feed grain cost during FY17.

$SAFM {{ '2016-12-15T16:41:48+0000' | timeago}} • Webcast

$SAFM said FY16 was successful for the company, with overall poultry market prices decreasing YoverY for the year. For 2017, the company expects to process 4.183Bil pounds of dressed poultry, representing a 11.1% increase in pounds processed vs. 2016.

$SAFM {{ '2016-12-15T13:09:23+0000' | timeago}} • Announcement

As of October 31, 2016, $SAFM had $1.423Bil in assets, stockholders' equity of $1.190Bil and net working capital of $465.1MM. The company had no debt at FY16-end.

$SAFM {{ '2016-12-15T13:06:49+0000' | timeago}} • Announcement

Frozen chicken products company $SAFM reported an increase in 4Q16 earnings. Net income was $76MM or $3.36 per share compared with $27.4MM or $1.22 per share for 4Q15. Net sales were $790.8MM compared with $679.6MM for the same period a year ago.

$SAFM {{ '2016-10-18T19:15:44+0000' | timeago}} • Announcement

$SAFM said that Charles W. Ritter, Jr. has informed the company that he will retire from the company's BoD when his current term ends at the 2017 annual shareholders' meeting.

$SAFM {{ '2016-09-22T18:23:20+0000' | timeago}} • Announcement

$SAFM said its BoD has declared a regular quarterly cash dividend of $0.24 per share, an increase of $0.02, payable on Oct. 18, 2016, to stockholders of record on Oct. 4, 2016. The Board also declared a special cash dividend of $1.00 per share, payable on Oct. 18, 2016, to stockholders of record on Oct. 4, 2016.

$SAFM {{ '2016-08-25T16:30:37+0000' | timeago}} • Webcast

Stephens analyst Farha Aslam asks whether there will be another incremental $5-6MM going forward in every quarter for the marketing program. $SAFM says that it's permanent and that the company will do it to support its retailers based on the response it got. $SAFM says that it will continue this for the foreseeable future.

$SAFM {{ '2016-08-25T16:18:35+0000' | timeago}} • Webcast

JP Morgan analyst Tom Palmer asks for an update on the anti-antibiotic free advertising campaign. $SAFM says that all customers have been supportive of the campaign except for one. The message of the campaign is that the company's chicken is free of antibiotics, within the FDA and USDA regulation. And the price is more for antibiotic-free products.

$SAFM {{ '2016-08-25T15:58:54+0000' | timeago}} • Webcast

During 3Q16, $SAFM's net sales totaled $728MM, down 1.6% vs. $739.9MM in 3Q15. The decrease was due to a fall in average sales prices for poultry products, offset by increased volume. The cost of sales fell 2.3% as an increase in pounds of poultry products sold were offset by lower feed costs. Non-feed related COGS fell $2.04 per pound in 3Q16.

$SAFM {{ '2016-08-25T15:46:41+0000' | timeago}} • Webcast

During 3Q16, $SAFM said that bulk leg quarter prices were up vs. 3Q15 increasing 29.6% vs. 3Q15. Frozen bulk leg quarters are currently quoted at $0.29 per pound. The company expects leg quarter prices to remain under pressure for as long as export demand remains soft and as several headwinds are likely to remain in place for the future.

$SAFM {{ '2016-08-25T15:33:28+0000' | timeago}} • Webcast

$SAFM said that all avian influenza-related bans have been lifted except for China. This has supported leg quarter prices. Feed costs were lower during 3Q16 and if this year's grain crop meets current expectations and the most the recent USDA estimates, the company said that it could enjoy benign or even lower grain costs in FY17.

$SAFM {{ '2016-08-25T15:23:43+0000' | timeago}} • Webcast

Poultry processing company $SAFM said that 3Q16 results reflects continued favorable supply and demand balance for fresh chicken sold to retail grocery store customers and lower grain costs vs. 3Q15. Market prices for products produced at the big bird deboning plants were mixed vs. 3Q15. The Georgia Dock whole bird price remained relatively strong.

$SAFM {{ '2016-08-25T13:01:33+0000' | timeago}} • Announcement

$SAFM said that its new Palestine, Texas plant is operating at near full capacity, and the startup has been well executed. Construction continues on the new St. Pauls, North Carolina facilities, and $SAFM looks forward to the opportunities the new facilities will provide when it begins processing at the new plant during 1Q17.

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