Cal-Maine Stock Cracks After Earnings. Wall Street Says Challenges Will Continue.

Cal-Maine Foods stock dived Wednesday as investors digested the egg producer’s latest financial results, which widely missed Wall Street estimates.

On Tuesday evening, Cal-Maine reported earnings of two cents a share for its fiscal first quarter, falling short of the consensus estimate of 33 cents a share—and down sharply from $2.57 a share in the year-ago period. Revenue of $459.3 million in the quarter was below analyst estimates of $479.5 million and marked a steep decline from $658 million a year ago.

The price of eggs has since declined from those highs as the bird flu outbreak has calmed down. Egg prices dropped 18% in August 2023 from a year earlier, according to CPI data.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cal-Maine stock drops on earnings missShares 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...
Source: MarketWatch - 🏆 3. / 97 Read more »

Dow futures tick lower, Cal-Maine foods tanks 11.8% after earnings By Investing.comDow futures tick lower, Cal-Maine foods tanks 11.8% after earnings
Source: Investingcom - 🏆 450. / 53 Read more »

These Stocks Are Moving the Most Today: Apple, Intel, Cal-Maine Foods, A10 Networks, and MoreApple shares are downgraded at KeyBanc, Intel plans a spinoff of its programmable solutions business, and sales slump at Cal-Maine Foods as egg prices tumble.
Source: MarketWatch - 🏆 3. / 97 Read more »