Cal-Maine Foods Q4 2022 Earnings Report
Key Takeaways
Cal-Maine Foods reported a record fourth quarter with net income of $110.0 million, or $2.25 per diluted common share, and net sales of $593.0 million, up 69.5% year-over-year. The company also announced a fourth-quarter cash dividend of $0.75 per share and approved a $55.3 million capital project to convert existing layer capacity to cage-free capacity.
Cal-Maine Foods reported record fourth-quarter net income of $110.0 million, or $2.25 per diluted common share.
Fourth-quarter net sales increased 69.5% year-over-year to $593.0 million.
The company achieved record quarterly specialty egg sales, totaling $186.5 million, representing 32.9% of total shell egg revenue.
Cal-Maine Foods announced a fourth-quarter fiscal 2022 cash dividend of $0.75 per share.
Cal-Maine Foods
Cal-Maine Foods
Forward Guidance
For fiscal year 2023, Cal-Maine Foods expects continued corn and soybean pricing pressures and further market volatility to affect feed costs.
Challenges Ahead
- Continued corn and soybean pricing pressures
- Further market volatility to affect feed costs