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News Breaks
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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November 20, 2014
07:24 EDTSAFMGoldman to hold a conference
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November 17, 2014
10:29 EDTSAFMTyson advances after profit beats expectations
Shares of meat producer Tyson Foods (TSN) are climbing after the company reported higher than expected profits and roughly in-line revenue. The company also made optimistic comments about the outlook for its meat products. WHAT'S NEW: Tyson reported fourth quarter earnings per share, excluding some items, of 87c, versus analysts' consensus estimate of 76c. The company's Q4 revenue of $10.11B was roughly in-line with expectations. Tyson provided fiscal 2015 EPS guidance of $3.30-$3.40, versus the consensus outlook of $3.33. However, the meat producer's fiscal 2015 revenue guidance came in at $42B, compared with the consensus outlook of $42.51B. Tyson expects its chicken segment to generate a 7%-9% return on sales over the long-term, but a return on sales of more than 10% in fiscal 2015. Hillshire Brands, which was acquired by Tyson earlier this year, should generate revenue synergies of $4B in fiscal 2015, added Tyson. Meanwhile, demand for beef is "very strong," and pork margins should be good in 2015, the meat producer stated. PRICE ACTION: In late morning trading, Tyson gained 4% to $42.34. Other meat producers also advanced, with Sanderson Farms (SAFM) rising 0.5% to $84.17 and Hormel Foods (HRL) gaining 0.6% to $54.84.

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