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Stock impact report

Cal-Maine beats profit expectations, while egg prices fall [MarketWatch]

Cal-Maine Foods, Inc. (CALM) 
Last cal-maine foods, inc. earnings: 1/5 06:30 am Check Earnings Report
US:NASDAQ Investor Relations: calmainefoods.com/investors
Company Research Source: MarketWatch
Cal-Maine beats profit expectations, while egg prices fall Cal-Maine Foods Inc. CALM, -1.11% reported fiscal third-quarter earnings that beat expectations, although egg prices fell, with the egg producer announcing a major expansion of its cage-free capacity. The stock was still inactive in premarket trade. Net income for the quarter to March 2 fell to $39.8 million, or 82 cents a share, from $96.3 million, or $1.99 a share, in the same period a year ago, which included a tax reform-related benefit. The FactSet EPS consensus was 50 cents. Sales fell 12% to $384.0 million, but was just above the FactSet consensus of $383.6 million. Dozen eggs sold fell 0.5% to 271.8 million, while the average selling price per dozen declined 11% to $1.373. The net average price per dozen of specialty eggs, which accounted for 24.7% of sales, rose 1.1% to $1.954. "While demand trends have been strong throughout fiscal 2019, with near record per capita U.S. egg consumption, we believe future supply co Show less Read more
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