Form 8-K SANDERSON FARMS INC To: May 27
Sanderson Farms Reports Second Quarter Fiscal 2021 Results
May 27, 2021
Sanderson Farms, and I believe we’re a stronger company. Thanks to the efforts of our team, we continue to execute our strategic growth plan, which is supported by strong demand from the domestic poultry market, and we look forward to announcing the site of our new tray poultry complex soon. However, the construction schedule will be delayed until we have better visibility on construction costs and grain crops for 2021, ?? Sanderson concluded.
Sanderson Farms will host a conference call to discuss this press release today, May 27, 2021 at 10:00 a.m. Central, 11:00 a.m. Eastern Time. Investors will have the option to listen to a live internet broadcast of the conference call via the company’s website at www.sandersonfarms.com. To listen to the call live, please visit the website at least 15 minutes in advance to register and download and install any necessary audio software. For those who cannot listen to the live broadcast, an internet replay will be available shortly after the call and will continue for 30 days. You can listen to and participate in the call by dialing 833-685-0982 and request the appeal of Sanderson Farms, Inc ..
Sanderson Farms, Inc. is engaged in the production, processing, marketing and distribution of fresh, frozen and underproduced chicken. Its shares trade on the NASDAQ Global Select Market under the symbol SAFM.
This press release contains 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 Act of 1934, as amended. Forward-looking statements are based on a number of assumptions regarding future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the opinions, 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 annual report of the company on form 10-K for the fiscal year ended October 31, 2020 and quarterly report on form 10-Q for the quarter ended April 30, 2021 and the following:
(1) Changes in the market price of the Company’s finished products and feed grains, both of which can fluctuate widely and exhibit cyclical characteristics typically associated with commodity markets.
(2) Changes in economic and trade conditions, monetary and fiscal policies, or the amount of growth, stagnation or recession in the world or US economies, any of which may affect the value of stocks, collectability of accounts receivable or financial integrity of customers and the ability of the end user or consumer to purchase protein.
(3) Changes in the political or economic climate, trade policies, laws and regulations or the national poultry industry of countries to which the Company or other companies in the poultry industry ship products, and other changes which may limit the Company or the industry’s access to foreign markets.
(4) Changes in laws, regulations and other activities of 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.
(5) Various inventory risks due to changes in market conditions including, but not limited to, the risk that the net realizable values of live and processed poultry inventories will be less than the cost of such inventories , requiring a downward adjustment to record the value of these inventories at the lower of cost or net realizable value, as required by generally accepted accounting principles.