The company, which controls about 20% of the US egg market according to Reuters, said its average selling price for a dozen eggs in the quarter ending February 25 was $3.30, more than double the average of $1.61 a year earlier. Despite the higher prices, the total number of eggs it sold edged up 1%, so its overall revenue rose 109% to $997.5 million. That doubling of revenue was nothing compared to its profits, however. Net income soared to $323.2 million from only $39.5 million a year ago.
But Cal-Maine said in its earnings statement that there have been no positive tests for avian flu at any of its owned or contracted production facilities. Egg producers’ pricing decisions have been criticized by some politicians, who accuse them of profiteering and price gouging.
Really now anyone shocked
This has to stop. $10. for 12 eggs needs to be brought before Congress. The entire supermarket has tripled or quadrupled in price. They need to demonstrate how this isn't blatant theft out of the mouths of American children. Force these prices to come down to pre-pandemic levels.
Boycott eggs and watch the prices fall
Corporations take advantage of working people for a considerable profit.
We need a windfall profit tax
What a weird development! 💰
First you manufacture a shortage, then you sit back and laugh as the huge profits roll in.
This only shows price gouging magnified. Where is the outcry?
“But Cal-Maine said in its earnings statement that there have been no positive tests for avian flu at any of its owned or contracted production facilities.” Talk about lucky!
Big Egg
Greed, it’s always been greed disguised as inflation
So they weren’t offsetting increased operating costs? I want a refund
Is the owner of CNN Amroman or Amroscandinavian?
there is no inflation when it comes to profit, same with the crippling recession that we likely had yesterday but today were ok, who knows, but profit is back baby
I knew it wasn’t inflation, that was the excuse. It has always been cooperate GREED.
So “inflation” is just another excuse for corporations to act greedy and get away with it!
That is one side of the equation. Did O/E double too lol.
It was all about greed
I do not buy eggs anymore.
It wasn't the chickens fault?
So raise your own chickens if it bothers you. Or drive to a local farm. You have options other than complaining.
Maybe eggs were just underpriced to begin with. Like gas, people want them regardless of price.
Price gougers.
Republicans - this is just good business. Republicans- 'Biden caused inflation!'
Just greed. Out in the open. Greed all the way down.
Welcome to America, where Guns and Greed are endemic.
I thought it was because of some chicken disease, not Big Egg's greed.
cynthia26942734 They do it because they can.
Isn't that called price fixing?
ooohhhh ok cool
You can still get nice things cheaply. Check out Allusions of Grandeurs Palace Themed booth at Budget Man's Flea Market in Toledo Ohio near the intersection of Lewis and Laskey for great royal themed products
Well now that it becomes clearly evident the MAGATerrorists can't blame Biden, they no longer give a fuck...
Completely unavoidable higher prices. 'The chickens are dying! We can't sell as many eggs! We don't have enough eggs! We're only going to makes 7 times as much profit as last year with fewer eggs! Egg shortage!'
More proof this is not inflation - it is pure greed, opportunistic price gouging businesses not regulated.
Listen…hear that? 😯 It’s the sound from the keyboards of grifters from coast to coast ordering signs, bumper stickers and t-shirts saying “STOP BIG EGG”
There's your answer, folks. You can stop blaming Biden now.
Screw your chicken lies!! I got my chickens during the pandemic and haven’t bought eggs since!! Fresh organic eggs daily and feed is around 30 every other month. But I like to splurge and buy them bugs and cabbage here and there for their hard work!!!
Shame on you!!!!
They never went above 2.99 where I live. 🧐
Hold up, if supply was down and they raised prices, shouldn't they have made the same, not more? This is a food staple we are talking about here. Not a luxury good. That makes it price gouging.
Who sets those 'sharply higher egg prices'? 🤔
No mention of the egg factory being burnt to the ground 🤔🤔🤔
Americans, I think it's time to take a page out of the book of the French.
PattieWalker4 Somehow this will all be Biden's fault 🙄
I thought that was supposed to be because of bird flu. No?
“Thanks Joe Bide… wait, they made how much?”
'Used higher egg prices to increase profits.' Fixed it for you.
Written on the handrail at my local park, “Record profits = stolen wages”
justice_then They should be taxed 200% on that profit and those taxes used to supplement the cost of eggs so consumers get a price break. The government really needs to slam these profiteering companies hard.
Hence all the egg- farmer memes
The increase in inflation of those stimmy checks though…
That's fucked up
Umm there was an egg shortage and they had eggs. That happens. The Socialists at CNN want you to think it is a bad thing. What if there were too many eggs and they lost money? Would they write a story then?
majorityfm Good for them! They worked hard for it
That's a nice word for price gouging.
Oh
GavinNewsom are you going to push legislation to fine the egg companies next? Price gouging is price gouging. WhosNext wheredoyoudrawtheline
Cal-MaineIsGreedy
Why are the prices higher, CNN? Why Are the prices Higher?
Wouldn’t this be considered price gouging?
Monkey see monkey do just another price gouge.
Repubs are screamed about the wrong eggs!
nkulw good, they worked hard and deserved every penny 💕
Good for them!
Howlitzer huh i wonder why they were higher
POTUS VP SenSchumer SenateDems RepJeffries HouseDemocrats Can't you go after these companies for price gouging?
tomricks1 Gouging
nkulw Oh no fucking shit
Well I trust they gave raises and hired more staff as I am led to believe is the endgame of corporate capitalism.
So not inflation and not losing millions of chickens to avian flu.
Translation: there was no reason to raise prices so high other than greed.
erinbiba Suss
What's that? Burn down their corporate headquarters you say?
Not one person on this thread has mentioned how cruel the Chicken industry is. Did you know male baby Chicks go into the shredder? I see only humans here, no humanity.💔
PRICE. 👏🏼 GOUGING. 👏🏼
**** them.
DrHettie2017 We should boycott eggs for a while.
shameful when company is bragging about profits when eggs have become a basic food that is not affordable 😞
'Free market'
That party is over. Eggs prices are crashing. I just paid $1.99 in Arizona.
Profiteering and price gauging
Greed inflation
Duh
To quote the secretary general of the United Nations Conference on Trade and Development 'We call then for a more pragmatic policy mix that deploys strategic price controls, windfall taxes, anti-trust measures and tighter regulations on commodity speculation.” AKA tax the rich!!!
Somebody needs to get those roosters tapping that hen ass!!!
Supply meet demand.
This is NOT inflation, it’s PRICE GOUGING!!!!
Greed wins again
They are just fucking people. This inflation is artificial.
Rawr
Because of shortages due to bird flue. My opinion
Inflation be inflating them pockets all while destroying our pockets.
How the fuck does a sane human being read this headline and not correct it to 'egg producer made record profits from price gouging'? Because that's literally what happened. THEY raised their prices, and stole 718% more money in profits, and MSM ran cover for them
So they lied. BLM…do your thing.
And here we thought eggs were so expensive because of gas prices. Nope, it was pure and simple greed all along.
No one should be buying eggs bc chickens pay the highest price.
Get your own 🐔...collect your own eggs... Problem solved
SenatorTimScott explain this profit surge?
Very good for them. Maybe more people should join in this business.
When all of your competitors can no longer sell eggs because of a flu, your profits will increase. This is not a smoking gun like the lefties think it is.
Welcome to Bidenflation.
inflation is caused by the greed of the mega corporations, plain and simple. Tax the hell out of them and return part of those taxes to the people.
So if I sell a bottle of Clorox for double what I paid, I'm a price gouger. But these clowns pull this garbage and it's cause for celebration?! SenWarren GET 'EM!
👍👍👍👍
Profit surged 718%? Ya, the inflation is brought to you by big corporations. So ya... Let's get behind the whole tax the rich and corporations idea. They are doing just fine while the average American suffers.
We're all being taken to the cleaners, our costs are up, and their profits are up. This is where Capitalism leads to, so stop complaining.
I hope the chickens got a raise, or at least let out of the cage for a bit.
Scam scam scam.
tg14926 It’s not the chickens. It’s the greed
GavinNewsom are you going to go after them to or only big oil
Guess what's driving inflation? Yep, it's higher wages.
You know corporations have reached the lowest point that they are playing the greed card over our food. This a damn shame and they should be held accountable for their greed. We need more regulations over corporations Tax them.
Manufactured shortage. Then lower prices but still above what they should be. And we keep paying it
Profiteers shouldn't be allowed to profiteer off of basic needs... Other wise we suffer, and so do they long term.
They can charge what they want. Under socialism the prices would have way higher .
But the economy is getting better. Say it over and over again. 😵💫
Did the chickens get a share of that gouged profit ? They did all the work !
Gouging
Let’s go Brandon
Corporations that provide basic living needs are nothing more than criminals in suits. They are literally taking people to survival mode all for profit
What did one egg tell the other egg who’s telling jokes? Quit it! You’re cracking me up!🙃
So stop bitching and buy chickens ffs.
So not inflation but greed
Does this surprise anyone? A dozen eggs at Aldi’s pre-pandemic was 79 CENTS. The price now fluctuates from $3.99 to $4.99 a dozen. It doesn’t take a genius to figure out that they made a huge profit.
Cc crampell
Sbs kbs otherworldliness
RepAndyBarr What do you have to say about this? Gonna blame the administration 718% increase in profit. Must be Biden’s fault, right?
Gouge much?
no incentive to reduce prices with no change in demand and no ability to meet next quarter's expectation of continued profit growth.
Duh. They were price gouging
We're paying their higher taxes.
Did you ever known chicken factory got burned down? Thousand of chickens from biggest farms were forced to dispose because fear bird flu? These make food price skyrocket cuz they become scarce. Without many LIVE Chickens, we don’t have enough eggs to meet demand. Demand vs Supply
Greed.
Eggs were a lot cheaper when trump was president 🤷🏻♂️
GREED
So glad that my little farm provides eggs for my family and friends.
You mean profits surged because there was a supply issue? Or leave out that key important part in the headline and frame it your way I guess.
Hey California legislators. You forced cage free. They raised prices to redo it all. Made money to comply or leave. Government caused. Just like gas.
At least it won’t have the same price as a diamond
Imagine that.
Hopefully the hens get a cut.
Well could it be because we are now paying triple the price in eggs since Biden took office
No shit
And? Since a bunch of chickens were killed off (possibly poisoned by that train wreck in Ohio) and the Left wants you to eat bugs, of course demand and prices went up for eggs. This isn’t rocket science.
How does profit go up so much without price gouging? This is bullshit.
Its called 'supply and demand'. Unfortunately, CNN does not understand that.
But the far right wants to blame Biden.
Ahh good for them. Exorbitant Profit is what built the nation.
Higher revenue/profit /= inflation. It's profiteering, plain and simple.
Isn't this gouging?!?
Why am I not surprised? All of these corporations are greedy and put their profits over the citizens of this country.
GoVeRnMeNt ShOuLd TaKe OvEr AnD rEgULaTe PriCeS!¡!¡
i bet using baby labor you barely have to pay helps too
Cal maine rn
Corp price gouging Americans should be a crime
In a free market society, like the US mostly is, prices are set by what people pay for them. If the supplier says he will only sell eggs at 3.89 a dozen, the consumer who wants eggs will either pay that price or they don’t get the eggs. If enough consumers quit 1/
There was no egg shortage! Just another lie!
CNN with classic slander
Greedy. Greedy. Greedy.
If you're crazy enough to pay those prices, someone is going to make money.
Oh, so this is the inflation I keep hearing about?