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Cal-Maine stock drops on earnings miss

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Shares of Cal-Maine Foods Inc. CALM dropped 12% in after-hours trade Tuesday, after the egg producer reported fiscal first-quarter results that fell below...

Shares of Cal-Maine Foods Inc.

dropped 12% in after-hours trade Tuesday, after the egg producer reported fiscal first-quarter results that fell below expectations. For the quarter ended Sept. 2, earnings fell to $926,000, or 2 cents a share, from $125.3 million, or $2.57 a share, in the same period a year ago, and fell short of the FactSet consensus analyst estimate of 33 cents a share. Meanwhile, sales fell to $459.3 million from $658.3 million in the year-ago period, short of analyst forecasts of $479.5 million.

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