Sanderson Farms, Inc. Provides Update on Operations Affected by Hurricane Ida
Sanderson Farms (NASDAQ: SAFM) has provided an operational update following Hurricane Ida, stating no injuries to employees and minimal structural damage. All facilities are operational except for Hammond, LA, and McComb, MS, which are using generators. The company has maintained its poultry inventory with no significant bird loss. Production is expected to resume soon, including operations over the holiday weekend. The firm expressed gratitude for local support and indicated plans to assist affected communities.
- No injuries reported to employees due to Hurricane Ida.
- All facilities operational except for Hammond and McComb, utilizing generators.
- No significant bird loss reported, maintaining livestock inventory.
- Production expected to resume quickly, including over the holiday weekend.
- Power outages causing temporary shutdowns in Hammond and McComb.
“We are thankful that we have not had any reports of injuries to any of our employees as a result of this devastating hurricane,” said
“All of our facilities have power except for
“We are pleased to report no significant bird loss and currently have 650 broiler houses, 17 pullet houses and 48 breeder houses operating on generator power. In anticipation of the storm and resulting power outages, we topped off feed bins and fuel tanks, tested generators and prepared farms before the storm hit to ensure our growers have adequate supplies of feed and fuel to care for flocks until power is restored.
“Hurricane Ida was a storm of historic proportions, and we are deeply saddened by the extreme devastation and losses that have occurred. We are grateful for the support from local authorities and the heroic work of first responders who are dealing with the aftermath of the storm as conditions allow. We will continue to help those displaced by the storm, including providing ice and food to the affected areas when it is safe to do so,” added Sanderson.
This press release includes forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs, projections and estimates expressed in such statements. These risks, uncertainties and other factors include, but are not limited to, those discussed under “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended
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Changes in the market price for the Company’s finished products and feed grains, both of which may fluctuate substantially and exhibit cyclical characteristics typically associated with commodity markets. |
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Changes in economic and business conditions, monetary and fiscal policies or the amount of growth, stagnation or recession in the global or |
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Changes in the political or economic climate, trade policies, laws and regulations or the domestic poultry industry of countries to which the Company or other companies in the poultry industry ship product, and other changes that might limit the Company’s or the industry’s access to foreign markets. |
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Changes in laws, regulations, and other activities in government agencies and similar organizations applicable to the Company and the poultry industry and changes in laws, regulations and other activities in government agencies and similar organizations related to food safety. |
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Various inventory risks due to changes in market conditions, including, but not limited to, the risk that net realizable values of live and processed poultry inventories might be lower than the cost of such inventories, requiring a downward adjustment to record the value of such inventories at the lower of cost or net realizable value as required by generally accepted accounting principles. |
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Changes in and effects of competition, which is significant in all markets in which the Company competes, and the effectiveness of marketing and advertising programs. The Company competes with regional and national firms, some of which have greater financial and marketing resources than the Company. |
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Changes in accounting policies and practices adopted voluntarily by the Company or required to be adopted by accounting principles generally accepted in |
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Disease outbreaks affecting the production, performance and/or marketability of the Company’s poultry products, or the contamination of its products. |
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Changes in the availability and cost of labor and growers. |
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The loss of any of the Company’s major customers. |
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Inclement weather that could hurt Company flocks or otherwise adversely affect the Company’s operations, or changes in global weather patterns that could affect the supply and price of feed grains. |
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Failure to respond to changing consumer preferences and negative or competitive media campaigns. |
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Failure to successfully and efficiently start up and run a new plant or integrate any business the Company might acquire. |
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Unfavorable results from currently pending litigation and proceedings or litigation and proceedings that could arise in the future. |
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Changes resulting from the COVID-19 pandemic, which could exacerbate any of the risks described above, and could include: high absentee rates that have prevented and may continue to prevent the Company from running some of its facilities at full capacity, or could in the future cause facility closures; an inability of contract poultry producers to manage their flocks; supply chain disruptions for feed grains; further changes in customer orders due to shifting consumer patterns; disruptions in logistics and the distribution chain for the Company’s products; liquidity challenges; and a continued or worsening decline in global commercial activity, among other unfavorable conditions. |
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Risks relating to the Company’s recently-announced entry into a definitive agreement to be acquired by a joint venture between |
Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of
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Treasurer, Chief Financial Officer & Chief Legal Officer
(601) 649-4030
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