Overview
- Earnings were $2.13 per share, beating the $1.94 consensus, while revenue fell 19.4% to $769.5 million and missed estimates.
- Gross profit dropped to $207.4 million, down 41.8%, and operating income fell 55.5% to $123.9 million as margins compressed.
- Conventional egg prices plunged, driving a 41% decline in conventional shell‑egg sales, while specialty offerings held comparatively firm.
- Prepared foods surged to $71.7 million from $10.4 million, reflecting a pronounced sales‑mix shift and contributions from Echo Lake operations.
- Cal‑Maine ended the quarter with $1.14 billion in cash and short‑term investments, declared a variable dividend of about $0.72 per share payable Feb. 12, repurchased $74.8 million of stock, and the shares rose premarket before turning lower intraday.