Welcome to our dedicated page for Cal Maine Foods news (Ticker: CALM), a resource for investors and traders seeking the latest updates and insights on Cal Maine Foods stock.
Cal-Maine Foods reports developments in U.S. egg production, specialty shell eggs and egg-based prepared foods. The company produces, grades, packages, markets and distributes shell eggs, with products spanning conventional, cage-free, organic, brown, free-range, pasture-raised and nutritionally enhanced eggs for retail and foodservice customers.
Recurring updates include quarterly operating results, shell egg pricing and volumes, sales mix between conventional and specialty eggs, prepared-foods growth, acquisitions of production assets, investor-conference appearances and board governance matters. Company news also references brands such as Eggland’s Best, Land O’Lakes, Farmhouse Eggs, 4Grain, Sunups, Sunny Meadow, MeadowCreek Foods and Crepini, along with prepared-food formats including pre-cooked egg patties, omelets, hard-cooked eggs, pancakes, waffles and wraps.
Cal-Maine Foods (NASDAQ: CALM) announced the approval of $82 million in capital projects to expand its cage-free egg production. This investment will be funded through available cash, investments, and operating cash flow. The projects include four new layer houses and conversions in Delta, Utah, and Guthrie, Kentucky, increasing capacity for approximately 1.76 million cage-free hens. Since 2008, Cal-Maine has invested about $625 million in expanding its cage-free production capabilities, underscoring its commitment to meeting growing demand.
Cal-Maine Foods reported a strong performance for Q3 of fiscal 2022, with net sales rising by 33.0% to $477.5 million, compared to $359.1 million in Q3 of fiscal 2021. Net income soared to $39.5 million, or $0.81 per share, up from $13.5 million, or $0.28 per share in the previous year. The average selling price for all eggs increased by 29.4% to $1.612 per dozen. Gross margin improved to 19.2%, reflecting favorable market conditions and expense management.
Cal-Maine Foods, Inc. (NASDAQ: CALM) will announce its third quarter fiscal 2022 financial results on March 29, 2022. The release will occur after market trading closes. Cal-Maine is the largest producer and distributor of fresh shell eggs in the United States, engaged in the production, grading, packing, marketing, and sale of various types of eggs.
Cal-Maine Foods reported a 12.5% increase in net sales for Q2 FY2022, totaling $390.9 million, compared to $347.3 million in Q2 FY2021. However, net income dropped significantly to $1.2 million from $12.2 million year-over-year. For the first half of FY2022, net sales were $722.6 million, with a net loss of $16.9 million. The company noted increased average selling prices for eggs but also faced higher production costs, leading to an operating loss of $2.1 million. Despite challenges, strategic investments and a focus on specialty egg sales indicate potential for growth.
Cal-Maine Foods (NASDAQ: CALM) will announce its second quarter fiscal 2022 financial results on December 28, 2021, with a press release following market close. The company is the largest producer and distributor of fresh shell eggs in the United States, focusing on various egg categories such as conventional, cage-free, organic, and more. Headquartered in Ridgeland, Mississippi, Cal-Maine sells most of its products across multiple U.S. regions including the southwestern, southeastern, mid-western, and mid-Atlantic areas.
Revitalist has signed a lease for its 8th psychedelic assisted psychotherapy clinic in Bethesda, Maryland, which will span 6,092 square feet with 10 infusion rooms. The clinic is set to open by December 31, 2021, and aims to provide over 10,400 ketamine infusions annually. This expansion increases the Company’s total space to 53,792 square feet and 109 treatment rooms across its locations. CEO Kathryn Walker emphasizes the significance of being in Maryland, highlighting the region's medical institutions and the rising mental health crisis in the U.S.
Cal-Maine Foods (NASDAQ: CALM) will participate in the Stephens 2021 Annual Investment Conference from December 1-3, 2021 at The Omni Hotel in Nashville, Tennessee. The fireside chat featuring Dolph Baker (Chairman & CEO), Sherman Miller (President & COO), and Max Bowman (CFO) will take place on Thursday, December 2, 2021, at 8:00 a.m. Central Time. Investors can access the live webcast through the company's website, with a replay available for 90 days.
Cal-Maine Foods (NASDAQ: CALM) announces leadership changes as Mike Castleberry retires from his role as Vice President and Controller effective January 2022. Matt Glover will take over the role, transitioning from Director of Financial Reporting, effective November 29, 2021. Additionally, Jia Scott has been appointed Vice President - Treasury, while Rhonda Whiteman becomes Vice President - Operational Accounting. These changes aim to strengthen the company’s financial management as it continues its growth strategy.
Cal-Maine Foods (NASDAQ: CALM) has greenlit a $23 million capital project to expand cage-free egg production at its Okeechobee, Florida facility. This initiative includes the construction of two cage-free layer houses and a pullet house with capacity for 400,000 cage-free hens and 210,000 pullets. Construction begins immediately, targeting completion by February 1, 2023. The funding will come from a mix of available cash and operating cash flow. This move aligns with Cal-Maine's strategy to bolster its presence in the specialty egg market and meet rising demand.
Cal-Maine Foods announced a strategic investment in a new entity, MeadowCreek Foods, based in Neosho, Missouri, focusing on high-value commercial egg products, particularly hard-cooked and extended shelf-life eggs. The company plans to invest up to $18.5 million in debt and equity to support this venture, maintaining a controlling interest. MeadowCreek aims to enhance Cal-Maine's reach in the foodservice sector, meeting the increasing demand for specialty eggs, including cage-free products. Ronald B. Bennett, with 30 years of industry experience, will lead the new operations.