Cal Maine Foods Inc Stock Price, News & Analysis

Cal-Maine Foods (CALM) reported a net sales decline in Q4 FY2021 to $349.8 million, down from $453.3 million in Q4 FY2020. The company recorded a net loss of $4.2 million or $0.09 per share, contrasting with a net income of $60.5 million or $1.25 per share a year earlier. FY2021 net sales were stable at $1,349.0 million. Average selling prices for shell eggs decreased to $1.32 per dozen from $1.58. The company is expanding its specialty egg production and has recently acquired a 50% stake in Red River Valley Egg Farm.

Cal-Maine Foods, Inc. (NASDAQ: CALM) will release its fourth quarter and fiscal 2021 financial results on July 19, 2021, before market trading opens. As the largest U.S. producer and distributor of fresh shell eggs, Cal-Maine operates in the southwestern, southeastern, mid-western, and mid-Atlantic regions. The company focuses on various egg types, including conventional, cage-free, organic, and nutritionally enhanced eggs.

Cal-Maine Foods (NASDAQ: CALM) announced its agreement to acquire the remaining 50% interest in Red River Valley Egg Farm from Rose Acre Farms for $48.5 million. The egg farm, established in 2015, operates with around 1.7 million laying hens and supports the growing demand for cage-free eggs. The transaction is expected to close by month-end, subject to conditions. CEO Dolph Baker emphasized the beneficial partnership and the anticipated increase in production capacity to meet consumer needs in Texas.

Cal-Maine Foods reported a 3.9% increase in net sales, reaching $359.1 million for Q3 fiscal 2021. Net income stood at $13.5 million or $0.28 per share, showing stable earnings compared to the previous year. Year-to-date sales totaled $999.2 million, an 11.2% increase, with a net income recovery to $6.3 million from a prior loss. Specialty egg sales surged 16.2%, accounting for 41.5% of revenues. Despite strong retail demand, operating income faced challenges due to rising production costs and market volatility.

Cal-Maine Foods, Inc. (NASDAQ: CALM) will release its third quarter fiscal 2021 financial results on March 29, 2021, prior to market trading. The company, the largest producer of fresh shell eggs in the U.S., specializes in various egg types including conventional, cage-free, organic, and nutritionally enhanced. Headquartered in Jackson, Mississippi, Cal-Maine sells its products primarily across the southwestern, southeastern, mid-western, and mid-Atlantic regions.

Cal-Maine Foods, Inc. (NASDAQ: CALM) announced the appointment of Camille Young as an independent director, effective March 11, 2021. Young, with over 20 years of government affairs experience, will enhance the Board's diversity and community relations capabilities. Currently the Principal at Cornerstone Government Affairs, she has strong ties with Mississippi officials and businesses. Chairman Dolph Baker expressed confidence in her ability to contribute to the company’s growth strategy, emphasizing her alignment with Cal-Maine's corporate culture.

Cal-Maine Foods (NASDAQ: CALM) will participate in the Bank of America 2021 Consumer & Retail Technology Conference from March 9-11, 2021. The event will be held virtually due to COVID-19. Dolph Baker, chairman and CEO, and Max Bowman, CFO, will present on March 10, 2021, at 12:30 p.m. Eastern Time, with a live audio webcast available for investors. The company is the largest producer and distributor of fresh shell eggs in the U.S., offering a variety of products, including cage-free and organic eggs.

Cal-Maine Foods reported net sales of $347.3 million for Q2 FY2021, an 11.5% increase from Q2 FY2020. The company had a net income of $12.2 million or $0.25 per share, compared to a loss of $10.1 million last year. For the 26-week period, sales rose to $640.1 million, while the net loss improved to $7.2 million. Specialty eggs accounted for 39.7% of sales, with 17.7% growth in specialty dozens sold. The company remains focused on growth in cage-free production, having invested $405 million in facilities. No dividend was declared due to cumulative losses.

Cal-Maine Foods (NASDAQ: CALM) announced a $40.1 million project to expand cage-free egg production at its Guthrie, Kentucky facility. The expansion will convert existing conventional capacity to accommodate 1.5 million cage-free hens and 300,000 pullets. Construction begins immediately, with initial conversions expected by early 2021 and completion by late 2022. The project will be funded through available cash, investments, and operating cash flow. This move aligns with increasing demand for cage-free eggs as states implement new regulations.