SAFM - SAFM STOCK NEWS

Sanderson Farms (NASDAQ: SAFM) reported Q1 fiscal 2021 net sales of $909.3 million, up from $823.1 million YoY. The company achieved net income of $9.5 million ($0.42/share) compared to a net loss of $38.6 million ($1.76/share) last year. Despite challenges from COVID-19 and high feed prices, retail demand remained strong, leading to improved pricing for tray pack products. However, severe weather disrupted operations, resulting in an estimated 1.6 million fewer chickens for processing. Overall market prices for poultry products increased significantly compared to the prior year.

Sanderson Farms, Inc. (NASDAQ: SAFM) held its annual stockholders' meeting, re-electing four directors for three-year terms. The company reported fiscal 2020 sales of $3.564 billion, up from $3.440 billion in the previous year, despite challenges from the COVID-19 pandemic. Demand from retail grocery customers surged while food service demand remained pressured. Shareholders approved executive compensation and the selection of Ernst & Young as auditors for fiscal 2021. The company aims to continue meeting strong retail demand and improve consumer confidence post-pandemic.

Sanderson Farms, Inc. (NASDAQ: SAFM) updated operations amid severe winter storms impacting Texas, Louisiana, and Mississippi facilities. Winter Storm Uri brought record cold, prompting the activation of their Crisis Management Plan. As of now, out of 1,918 broiler houses in Texas, approximately 200 lack power, and another 300 rely on generators. In Mississippi, some facilities faced structural damage from ice accumulation. While certain locations expect to resume operations soon, the company prioritizes employee safety and the welfare of livestock. Further updates on operations will arrive post-storm.

Sanderson Farms (NASDAQ: SAFM) will host its first quarter fiscal 2021 earnings call on February 25, 2021, at 10:00 a.m. CT. The management will discuss the company's financial results for the quarter ending January 31, 2021. Participants can join the call by dialing 833-685-0982. An online broadcast of the conference call will also be available on the investor relations section of Sanderson Farms' website, with a replay accessible for 30 days post-event. The company focuses on the production and distribution of chicken products.

Sanderson Farms (NASDAQ: SAFM) announced its 2021 annual meeting of stockholders will be held virtually on February 18, 2021, at 10:00 a.m. Central Time. This decision is due to the COVID-19 pandemic, ensuring safety for stockholders and employees. Participants can attend online, vote, and ask questions using a control number. Stockholders in street name must register in advance by submitting a legal proxy to Computershare by February 15, 2021. The company encourages all stockholders to vote and submit proxies ahead of the meeting.

Sanderson Farms, Inc. (NASDAQ: SAFM) has declared a quarterly cash dividend of $0.44 per share, set to be paid on February 16, 2021, to stockholders of record by February 2, 2021. The company specializes in the production, processing, marketing, and distribution of fresh, frozen, and minimally prepared chicken products. This dividend announcement indicates the company's commitment to returning value to its shareholders, reflecting stable financial health and ongoing operations in the poultry market.

Sanderson Farms, Inc. (NASDAQ: SAFM) announced the retirement of John H. Baker III from its Board of Directors, effective at the 2021 annual shareholders’ meeting. Baker has served on the Board since 1994, contributing to the company's greenfield expansion and overseeing the construction of seven processing plants, notably in Texas. His expertise in livestock management has been vital for poultry operations. Chairman Joe F. Sanderson, Jr. acknowledged Baker's significant impact on long-term shareholder value, highlighting his leadership qualities and dedication during his tenure.

Sanderson Farms reported increased net sales of $940.0 million for Q4 2020, up from $906.5 million YoY. The company posted net income of $27.9 million, reversing a loss from the prior year. For the fiscal year, net sales reached $3.564 billion, compared to $3.440 billion in 2019. Despite challenges from COVID-19, the company maintained strong retail demand but noted pressure from food service customers. The poultry volume sold hit a record 4.81 billion pounds while feed costs were lower, although they expect increases in 2021. The Board increased dividends and extended share repurchase plans.

Sanderson Farms, Inc. (NASDAQ: SAFM) will host its fourth quarter and fiscal 2020 earnings call on December 17, 2020, at 10:00 a.m. Central time. The call will discuss financial and operational results for the fiscal year ending October 31, 2020. Participants can join by phone or via a live online broadcast available on the company’s investor relations website. A replay will be accessible for 30 days online and via phone for seven days. The company specializes in the production, processing, marketing, and distribution of chicken products.