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May 29, 2021
Cal-Maine Foods Q4 2021 Earnings Report
Cal-Maine Foods' Q4 results were impacted by lower average selling prices and decreased volumes for conventional eggs compared to the previous year.
Key Takeaways
Cal-Maine Foods reported a net loss for the fourth quarter of fiscal year 2021, with a decrease in net sales compared to the same period last year. The company experienced lower average selling prices and reduced volumes for conventional eggs, while specialty egg sales showed a slight increase.
Net sales for Q4 2021 were $349.8 million, down from $453.3 million in Q4 2020.
The company reported a net loss of $4.2 million, or $0.09 per share, compared to a net income of $60.5 million, or $1.24 per share, in Q4 2020.
Specialty egg sales totaled $131.2 million, representing 38.7% of egg sales revenue, compared to $133.3 million, or 29.9% of egg sales revenue, in Q4 2020.
Operating loss was $13.0 million, compared to operating income of $76.1 million in the same period last year.
Revenue by Segment
Forward Guidance
Cal-Maine Foods will continue to execute its growth strategy in fiscal 2022, focus on managing operations, expand capacity for specialty egg production, and meet customer demands.
Positive Outlook
- Retail consumer demand for eggs will be more consistent with typical seasonal trends.
- More restaurants and food service operators are getting back to pre-pandemic business schedules.
- The specialty egg business is a key driver of growth.
- Strategic investments will continue to expand capacity, especially for cage-free egg production.
- The company is well-positioned with sufficient capital to fund internal expansion projects or consider potential acquisitions.
Challenges Ahead
- Ongoing uncertainties and continued supply chain disruptions related to the COVID-19 outbreak.
- Weather fluctuations.
- Geopolitical issues.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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