{"id":24196,"date":"2023-10-04T05:40:07","date_gmt":"2023-10-04T05:40:07","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/cal-maine-stock-drops-15-as-plunging-egg-prices-cut-into-profit\/"},"modified":"2023-10-04T05:40:10","modified_gmt":"2023-10-04T05:40:10","slug":"cal-maine-stock-drops-15-as-plunging-egg-prices-cut-into-profit","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=24196","title":{"rendered":"Cal-Maine stock drops 15% as plunging egg prices cut into profit"},"content":{"rendered":"
\n

Shares of Cal-Maine Foods Inc. fell in the extended session Monday after a 30% drop in egg prices cut deep into the egg producer\u2019s profitability, and revenue fell more than Wall Street expected. <\/p>\n

Cal-Maine shares
\n CALM,
\n -0.04%<\/bg-quote>
\n dropped nearly 15% in after-hours trade Tuesday after it reported fiscal first-quarter results, following a less-than 0.1% decline to close the regular session at $47.50. <\/p>\n

\n

For the quarter ended Sept. 2, net income plummeted 99% to $926,000, or 2 cents a share, from $125.3 million, or $2.57 a share, in the same period a year ago. That fell well short of the FactSet consensus analyst estimate of 33 cents a share, or a decline of about 87%.<\/p>\n

\n

<\/p>\n

\n
<\/div>
\n

CALM after-hours activity (yellow) following Tuesday\u2019s regular session (blue).<\/h4>\n


\n FactSet
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

Meanwhile, sales fell to $459.3 million from $658.3 million in the year-ago period, short of analyst forecasts of $479.5 million. <\/p>\n

The number of eggs sold fell to 273.2 million from 275.3 million in the year-ago period, as average prices fell to $1.59 per dozen from $2.28 a year ago.<\/p>\n

Cal-Maine share are down 14% over the past 12 months, compared with a 12% gain for the S&P 500 index
\n SPX.<\/span>\n <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Cal-Maine Foods Inc. fell in the extended session Monday after a 30% drop in egg prices cut deep into the egg producer\u2019s profitability, and revenue fell more than Wall Street expected. Cal-Maine shares CALM, -0.04% dropped nearly 15% in after-hours trade Tuesday after it reported fiscal first-quarter results, following a less-than 0.1% decline<\/p>\n","protected":false},"author":1,"featured_media":24197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-24196","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nCal-Maine stock drops 15% as plunging egg prices cut into profit | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Shares of Cal-Maine Foods Inc. fell in the extended session Monday after a 30% drop in egg prices cut deep into the egg producer\u2019s profitability, and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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