Loading...
•
Feb 26, 2022
Cal-Maine Foods Q3 2022 Earnings Report
Cal-Maine Foods reported a strong third quarter for fiscal year 2022, driven by improved shell egg pricing and increased sales volumes.
Key Takeaways
Cal-Maine Foods reported a record third quarter revenue, with net sales increasing by 33.0% to $477.5 million. The company's net income rose to $39.5 million, or $0.81 per share, compared to $13.5 million, or $0.28 per share, in the prior-year quarter.
Net sales increased 33.0% to $477.5 million, a third quarter revenue record.
Net income was $39.5 million, or $0.81 per share, compared to $13.5 million, or $0.28 per share, in the prior-year quarter.
The net average selling price for all eggs increased 29.4% to $1.612 per dozen.
Total dozens sold increased 2.8% versus the prior-year quarter.
Forward Guidance
Market indications point to corn and soybean pricing pressures and higher volatility tied to the Russia-Ukraine war and export demand, which will result in continued pressure on the stock-to-use ratio for corn. Despite input cost pressures and other market uncertainties, the company remains focused on managing operations efficiently and safely.
Positive Outlook
- Commitment to be the most reliable and sustainable producer of fresh shell eggs and egg products remains unwavering.
- Differentiated product mix and proven operating model continue to support ability to meet changing customer demand and extend market reach.
- Financial strength to support organic growth and expansion opportunities.
- Considering potential acquisitions that are accretive to the business.
- Focus on managing operations as efficiently and safely as possible.
Challenges Ahead
- Market indications point to corn and soybean pricing pressures.
- Higher volatility is tied to the Russia-Ukraine war and export demand.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...