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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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May 28, 2015
11:28 EDTSAFMSanderson Farms expects to spend $161.2M on capital projects in FY15
Sees FY15 effective tax rate 34.9%.
11:21 EDTSAFMSanderson Farms expects to process 3.4B pounds of chicken in FY15
11:17 EDTSAFMSanderson Farms: Market prices continue to reflect good demand for chicken
The company said chicken remains attractive option to high priced beef and expects continued good retail demand for chicken this summer. Dark meat is under demand due to politics, avian influenza and strengthening dollar. The result is weak dark meat pricing and weak export market for the foreseeable future. The company said there has been significant amount of discussion regarding breeder flock. The company said the industry is expanding and will process 3%-4% more heads of chickens in 2015. Believes industry will run into a processing ceiling, but cannot say for certain where that ceiling is. The company says prices has held up well assuming it can produce 3%-4% more heads of chickens and is possible the market can absorb that production in 2016. Said it has moral obligation to care for animals under stewardship and will use antibiotics according to its doctors orders. The company said neglecting health of animals is inconsistent with the company's goals. Comments taken from Q2 earnings conference call.
09:36 EDTSAFMSanderson Farms drops after results, levels to watch
The stock is down over 4.9% to $80.33, just above the 50-day moving average at $80.11. At current price support is at the session low at $79.10 and then at $78.16. Resistance is at $81.73.
09:27 EDTSAFMOn The Fly: Pre-market Movers
HIGHER: Rally Software (RALY), up 44% after deal to be bought by CA Technologies for $19.50 per share... IMAX (IMAX), up 6.5% after IMAX China files application for IPO on Hong Kong Stock Exchange... Avago (AVGO), up 2.8% after announcing deal to buy Broadcom (BRCM) for $37B in cash and stock. Broadcom shares are down 1% following the announcement... Western Digital (WDC), up 2.4% following upgrade to Buy from Neutral at Goldman. UP AFTER EARNINGS: Express (EXPR), up 8%... Abercrombie & Fitch (ANF), up 4.3%. LOWER: NeoStem (NBS), down 22.8% after 12.5M share secondary price at $2 per share... (CTRP), down 1.6% after reportedly disclosing cyberattack against its services. DOWN AFTER EARNINGS: Orbital ATK (OA), down 1.6%... Signet (SIG), down 3.5%... Sanderson Farms (SAFM), down 3%... Dangdang (DANG), down 11%.
07:31 EDTSAFMSanderson Farms reports Q2 EPS $3.13, consensus $3.32
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May 27, 2015
15:30 EDTSAFMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Toronto-Dominion Bank (TD), consensus $1.11... Signet Jewelers (SIG), consensus $1.63... Flowers Foods (FLO), consensus 30c... Tech Data (TECD), consensus 71c... Sanderson Farms (SAFM), consensus $3.32... Express (EXPR), consensus 14c... Abercrombie & Fitch (ANF), consensus (34c)... Descartes Systems Group (DSGX), consensus 6c... JinkoSolar (JKS), consensus 40c... Fred's (FRED), consensus (1c)... Xcerra (XCRA), consensus 7c... Titan Machinery (TITN), consensus (22c).

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