Sanderson Farms, Inc. (SAFM) Q1 2021 Earnings Conference Call February 25, 2021 11:00 AM ET
Company Participants
Joe Sanderson – Chief Executive Officer, Chairman of the Board
Mike Cockrell – Treasurer, Chief Financial Officer, Chief Legal Officer and Board Member
Lampkin Butts – President and Board Member
Conference Call Participants
Ben Bienvenu – Stephens Inc.
Adam Samuelson – Goldman Sachs
Ken Goldman – JPMorgan
Ken Zaslow – Bank of Montreal
Ben Theurer – Barclays
Peter Galbo – Bank of America
Michael Piken – Cleveland Research
Operator
Good day and welcome to Sanderson Farms, First Quarter 2021 Conference Call. Today's call is being recorded. At this time for opening remarks and introductions, I would like to turn the call over to Mr. Joe Sanderson. Please go ahead, sir.
Joe Sanderson
Thank you. Good morning, and welcome to the Sanderson Farms First Quarter Conference Call. This morning, we announced net income of $9.5 million or $0.42 per share for our first quarter of fiscal 2021. This compares to a net loss of $38.6 million or $1.76 per share for our first quarter of fiscal 2020.
I will begin the call with comments about the recent winter storms, general market conditions and grain cost and then turn the call over to Lampkin and Mike for a more detailed account of the quarter. Before we make any further comments, I'll ask Mike to give the cautionary statement regarding forward-looking statements.
Mike Cockrell
Thank you, Joe, and good morning to everyone. This morning's call will contain forward-looking statements about the business, financial condition and prospects of the company. The actual performance of the company could differ materially from that indicated by the forward-looking statements because of various risks and uncertainties. These risks and uncertainties are described in our annual report on Form 10-K for the fiscal year ended October 31, 2020, and our
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