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Feb 27, 2021
Cal-Maine Foods Q3 2021 Earnings Report
Cal-Maine Foods reported a net income for the third quarter of fiscal year 2021, with increased net sales driven by strong retail demand for shell eggs.
Key Takeaways
Cal-Maine Foods reported a 3.9% increase in net sales for the third quarter of fiscal 2021, reaching $359.1 million. Net income was $13.5 million, or $0.28 per basic and diluted share, which is comparable to the previous year's $13.7 million.
Net sales for the third quarter of fiscal 2021 increased by 3.9% to $359.1 million.
Net income for the third quarter of fiscal 2021 was $13.5 million, or $0.28 per share.
Specialty egg sales accounted for 41.5% of egg sales revenue, totaling $145.2 million.
Total dozens sold were up 3.1 percent over the same period last year, reaching 279.7 million dozens sold.
Cal-Maine Foods
Cal-Maine Foods
Forward Guidance
Cal-Maine Foods anticipates continued volatility in feed grain prices and uncertainties related to COVID-19, but remains focused on managing operations efficiently and making strategic investments for future growth.
Positive Outlook
- Retail consumer demand for eggs is expected to remain strong.
- The company is focused on managing operations efficiently and sustainably.
- Strategic investments will continue to support future growth.
- Cal-Maine Foods is well-positioned with sufficient capital to expand capacity or consider potential acquisitions.
- The company is focused on meeting customer demands and delivering value to shareholders.
Challenges Ahead
- It is difficult to predict when restaurants and food service operators will return to pre-pandemic business schedules.
- The extent to which retail demand will be affected is uncertain.
- Continued volatility in feed grain prices is expected.
- Uncertainties and supply chain disruptions related to the COVID-19 outbreak persist.
- Weather fluctuations and geopolitical issues will continue to affect market prices for primary feed ingredients.