Cal-Maine Foods misses by $0.15, misses on revs
- Reports Q2 (Nov) earnings of $0.55 per share, excluding non-recurring items, $0.15 worse thanthe Capital IQ Consensus of $0.70; revenues rose 42.5% year/year to $361.2 mln vs the $370.85 mln Capital IQ Consensus.
- "Market prices for conventional shell eggs continued to move higher throughout the quarter with our average customer selling prices for all eggs and conventional eggs up 36.0 percent and 77.6 percent, respectively, in the second quarter compared with a year ago. Market prices remained strong through the Thanksgiving holiday. According to Nielsen data, retail demand has been very good and in line with normal seasonal trends, supported by increased egg promotions in grocery stores. After a period of sluggish demand from institutional food customers, this sector has returned to more egg usage."
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