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Nov 27, 2021
Cal-Maine Foods Q2 2022 Earnings Report
Cal-Maine Foods reported increased sales driven by improved shell egg pricing and sales volumes, returning to profitability despite higher costs.
Key Takeaways
Cal-Maine Foods reported a 12.5% increase in net sales to $390.9 million, driven by improved shell egg pricing. The company reported a net income of $1.2 million, or $0.02 per basic and diluted common share.
Net sales increased by 12.5% to $390.9 million compared to the prior year.
Net income was reported at $1.2 million, or $0.02 per share.
Specialty egg sales accounted for 41.1% of total shell egg revenue.
The company made a strategic investment in MeadowCreek Foods to expand its presence in the egg products sector.
Cal-Maine Foods
Cal-Maine Foods
Forward Guidance
Cal-Maine Foods expects market prices for primary feed ingredients to remain volatile due to ongoing disruptions.
Positive Outlook
- Focusing on managing costs and running efficient operations.
- Teams across operations have demonstrated resilience.
- Operations have run very well with strong key performance metrics.
- Sufficient capital to fund internal expansion projects and consider potential acquisitions.
- Striving to meet the demands of valued customers and deliver greater value to shareholders.
Challenges Ahead
- Current and expected inflationary headwinds.
- Higher costs for feed, labor, packaging and delivery.
- Market prices for primary feed ingredients expected to remain volatile.
- Ongoing disruptions related to the COVID-19 global pandemic.
- Weather fluctuations, geopolitical issues and overall reduced carryout levels for primary feed ingredients.