4th Quarter Ending October 31st.
|
2020
|
2019
|
Difference (%)
|
Sales:
|
$940,023
|
$906,489
|
+3.7
|
Gross profit:
|
$91,716
|
$21,543
|
+325.7
|
Operating income:
|
$42,255
|
$(32,407)
|
+230.4
|
Pre-tax Income
Net Income
|
$41,557
$27,922
|
$(33,386)
$(22,871)
|
+222.1
+220.0
|
Diluted earnings per share:
|
$1.26
|
$(1.05)
|
+220.0
|
Gross Margin (%)
|
9.8
|
2.4
|
+308.3
|
Operating Margin (%)
|
4.5
|
-3.6
|
+225.0
|
Profit Margin (%)
|
3.0
|
-2.5
|
+547.5
|
Long-term Debt:
|
$51,804
|
$55,000
|
-5.8
|
12 Months Trailing:
|
|
|
|
Return on Assets (%)
|
-2.1
|
|
|
Return on Equity (%)
|
-1.6
|
|
|
Operating Margin (%)
|
-1.8
|
|
|
Profit Margin (%)
|
-0.6
|
|
|
Total Assets
|
$1,849,031
|
$1,774,134
|
+4.2
|
Market Capitalization
|
$3,130,000
|
|
|
For FY 2020 SAFM earned $28.3 million on sales of $3,564 million with an EPS of $1.27. Comparable values for FY 2019 were, a net loss of $53,9 million on sales of $3,440 million with a negative EPS of 2.41
52-Week Range in Share Price: $102.13 to $ 179.45 50-day Moving average $136.07
Market post release December 17th 10H30 $141.79 (+0.5 percent)
Forward P/E 37.5 Beta 0.6
In commenting on Q4 and FY 2020 results, Joe F. Sanderson Chairman and CEO stated, “Over the course of the fourth quarter and fiscal year ended October 31, 2020, our company and industry faced extraordinary challenges caused by the COVID-19 pandemic and the unprecedented social and economic impact the virus continues to have on the United States. He added “while demand from our food service customers has remained under pressure, demand for chicken products sold to retail grocery store customers remained strong through the end of the fiscal year. We believe these conditions will continue until consumers return to restaurants and resume dining away from home in large numbers. Therefore, we are continuing to shift our production toward the tray packs that are in high demand in the retail grocery market.”
Sanderson noted “for the fiscal year, we reported record volume of poultry products sold of 4.81 billion pounds, compared to 4.53 billion pounds in fiscal 2019. Grain prices were slightly lower during fiscal 2020 compared with prices paid in fiscal 2019, and feed costs in processed flocks were lower by 3.4 percent.”
He concluded “as of October 31, 2020, our balance sheet reflected $1.85 billion in assets, stockholders’ equity of $1.42 billion and net working capital of $354.0 million. We believe our balance sheet provides us with the financial strength to both support our organic growth strategy and consistently manage our operations through the cycles that characterize our industry. We continue to evaluate a new site as part of our next phase of organic growth, and we hope to be in a position to announce the location and begin work on a new poultry complex during the first half of calendar 2021,”
|