Sanderson Farms, Inc. (SAFM) Q2 2021 Earnings Conference Call May 27, 2021 11:00 AM ET
Company Participants
Joe Sanderson - Chief Executive Officer & Chairman of the Board
Mike Cockrell - Chief Financial Officer & Chief Legal Officer
Lampkin Butts - President
Conference Call Participants
Ken Goldman - JPMorgan
Ben Theurer - Barclays
Ben Bienvenu - Stephens
Peter Galbo - Bank of America
Eric Larson - Seaport Global
Ken Zaslow – Bank of Montreal
Michael Piken - Cleveland Research
Adam Samuelson – Goldman Sachs
Robert Moskow - Credit Suisse
Operator
Good day and welcome to Sanderson Farms’ Second 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 second quarter conference call. We published second quarter results this morning announcing net income of $96.9 million, or $4.34 per share for our second fiscal quarter of 2021. This compares to net income of $6.1 million or $0.28 per share during last year's second quarter. Results for this year's second fiscal quarter reflect an accrual for a probable ESOP contribution and the negative impacts related to the winter storms that affected our operations during the quarter. Mike will discuss both of those in more detail later.
Before we continue, I will 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 most recent annual report on
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