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Sanderson Farms Reports Results for First Quarter of Fiscal 2021
Sanderson Farms, Inc., reported results for the first quarter of fiscal 2021.
Net sales for the first quarter of fiscal 2021 were $909.3 million compared with $823.1 million for the same period a year ago. The Company reported net income of $9.5 million, or $0.42 per share, for the quarter compared with a net loss of $38.6 million, or $1.76 per share, for the first quarter of fiscal 2020.
“Our results for the first quarter of fiscal 2021 reflect continuing challenges presented by the COVID-19 pandemic and higher feed grain prices, but we ended the quarter on a strong note amidst encouraging end-market trends and remain optimistic about the future,” said Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc. “While market prices for boneless breast meat produced at our plants that process larger birds for food service customers remained under pressure during the first two months of the quarter, we saw...
Sanderson Farms Provides Update on Operations Affected by Winter Storms
Sanderson Farms, Inc., provided an update on the Company’s operations and the impact of the severe winter storm that has affected the Company’s Texas, Louisiana, and Mississippi locations.
Winter storm Uri brought bitter cold temperatures, snow and ice, leaving millions without power across the Company’s footprint in Texas, Louisiana and Mississippi, on Monday, and Uri, along with winter storm Viola, will continue to affect operations. The National Weather Service reports extremely cold temperatures as low as...
Sanderson Farms Announces Retirement of Board Member John Baker
Sanderson Farms, Inc. announced that John H. Baker III has informed the Company that he will retire from the Sanderson Farms Board of Directors when his current term ends at the 2021 annual shareholders’ meeting.
“Johnny Baker has been a valued member of the Sanderson Farms Board of Directors since 1994,” stated Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc. “His many years of experience as a successful entrepreneur in real estate development provided an important perspective in...
Sanderson Farms Reports Results for Fourth Quarter and Fiscal 2020
Sanderson Farms, Inc. reported results for the fourth quarter and fiscal year ended October 31, 2020.
Net sales for the fourth quarter of fiscal 2020 were $940.0 million compared with $906.5 million for the same period a year ago. For the quarter, the Company reported net income of $27.9 million, or $1.26 per share, compared with...
Sanderson Farms Issues Statement on Unsolicited Proposal
Sanderson Farms, Inc. issued the following statement:
Sanderson Farms has not received a proposal from Tyson Foods and Durational Capital Management. The Sanderson Farms Board of Directors has unanimously rejected an unsolicited proposal from Durational Capital Management, a new shareholder, to acquire the Company for $142 per share, a price that very substantially undervalues Sanderson Farms and its future prospects and is significantly below the 52-week high share price of $179.45. After careful consideration, with the assistance of its financial and legal advisors, the Board unanimously determined that the highly conditional and opportunistic proposal is not...
Sanderson Farms Releases 2019 Corporate Responsibility Report
Sanderson Farms, Inc. has released its 2019 Corporate Responsibility Report detailing the company's commitment to social and environmental responsibility. This year, Sanderson Farms introduced reporting using the standards set forth by the Sustainability Accounting Standards Board (SASB) for the meat, poultry, and dairy sector.
"At Sanderson Farms, we believe strongly that we cannot fulfill our corporate purpose without conducting ourselves with total integrity," said Joe F. Sanderson Jr., chairman of the board and chief executive officer of Sanderson Farms. "We hope these disclosures will provide decision-useful information to...
Sanderson Farms Reports Results for Third Quarter of Fiscal 2020
Sanderson Farms, Inc. reported results for the third fiscal quarter and nine months ended July 31, 2020.
Net sales for the third quarter of fiscal 2020 were $956.5 million compared with $945.2 million for the same period a year ago. For the quarter, the Company reported net income of $32.8 million, or $1.48 per share, compared with...
Sanderson Farms Reports Results for Second Quarter of Fiscal 2020
Sanderson Farms, Inc. today reported results for its second fiscal quarter and six months ended April 30, 2020.
Net sales for the second quarter of fiscal 2020 were $844.7 million compared with $845.2 million for the same period a year ago. For the quarter, the Company reported net income of $6.1 million, or $0.28 per share, compared with net income of $40.6 million, or $1.83 per share, for the second quarter of fiscal 2019.
Net sales for the first six months of fiscal 2020 were $1,667.8 million compared with $1,588.6 million for the same period of fiscal 2019. The net loss for the first half of the fiscal year totaled $32.5 million, or $1.48 per share, compared with net income of...
Sanderson Farms Confirms Employee has Tested Positive for Novel Coronavirus
Sanderson Farms, Inc. confirmed that an employee at the Company’s McComb, Mississippi, processing plant has tested positive for novel coronavirus. This individual’s work area was contained to one small processing table. “Upon learning of this case, we took a number of immediate steps to protect the health and safety of our employees,” said Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc. “Following CDC and local health department guidelines, and procedures developed in consultation with an infectious disease physician, we identified six individuals in the work area who could be at risk, and those employees, along with...
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