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December 17, 2013
11:27 EDTSAFMSanderson Farms expects to process 3.13B pounds of chicken in FY14
Says FY13 financial results put company in position to resume growth strategy for FY14. In FY14, the company expects to process 3.13B pounds of chicken, which is a 2.5% increase of pounds processed compared to FY13. Sees FY14 CapEx $58M, modeling an effective tax rate of 34.9%. Expects to spend $110M in FY14 for new Texas facility and expects to spend $140M overall for the new facility. The company sees the cost of grain in FY14 $194M lower than in FY13. Sees market conditions for next year continuing to reflect weakness in consumer spending. Comments made during the company's Q4 earnings conference call.
News For SAFM From The Last 14 Days
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October 9, 2015
20:07 EDTSAFMSanderson Farms to host investor meeting
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12:06 EDTSAFMUSDA increases meat production forecasts for 2015, 2016
In its latest World Agricultural Supply and Demand Estimates report, the USDA increased its forecasts for total meat production in 2015 and 2016. Beef production for 2015 is raised on larger forecast slaughter of fed cattle in the second half of 2015 and heavier carcass weights. The forecast for 2016 is raised as cattle slaughter and carcass weights in the first half are projected higher than last month. The pork production forecasts for both 2015 and 2016 are raised. The pace of hog slaughter in the remainder of 2015 is expected to be higher, the USDA said. Publicly traded companies in the meat production space include Hormel Foods (HRL), Pilgrim's Pride (PPC), Sanderson Farms (SAFM) and Tyson Foods (TSN).
October 7, 2015
09:55 EDTSAFMBB&T cautious on Sanderson Farms ahead of analyst day and Q4 earnings
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September 30, 2015
07:44 EDTSAFMTyson Foods valuation multiples 'remain compressed,' says JPMorgan
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September 25, 2015
05:12 EDTSAFMSanderson Farms recalls 551,090 pounds of chicken products
Sanderson Farms announced that it is voluntarily recalling 551,090 pounds of chicken products produced at its plant in Hazlehurst, Mississippi. A sample of the products analyzed by a customer of the company and the USDA was found to contain foreign material. As a precautionary measure, the company has voluntarily recalled approximately 551,090 pounds of product. None of the products that are the subject of this recall were shipped to grocery stores or packed directly for consumers. The product included ice packed chicken products sold to three customers who use the products for additional processing into further processed chicken products. The company has identified all of the products and notified its customers to place the products on hold, return them to the company and further execute the recall of these products. The products involved in the recall were produced at the Hazlehurst, Mississippi, plant on September 17 and 18, 2015. The company is aware of no injuries or adverse reaction caused as a result of consuming this product.

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