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Home>Cal-Maine Foods loss narrows, but is wider than expected

Cal-Maine Foods loss narrows, but is wider than expected

Cal-Maine Foods loss narrows, but is wider than expected

10/02/2017

Cal-Maine Foods Inc. (CALM) reported Monday a fiscal first-quarter net loss which narrowed to $16.0 million, or 33 cents a share, from $30.9 million, or 64 cents a share, in the same period a year ago. The FactSet consensus was for a per-share loss of 18 cents. Revenue for the quarter to Sept. 2 rose to $262.8 million from $239.8 million, missing the FactSet consensus of $264.1 million. Dozens of eggs sold increased to 249,464 from 242,325 and the net average selling price per dozen increased to $1.017 from $0.952, while the net average price of specialty eggs decreased to $1.878 per dozen from $1.973. "While we are disappointed to report a loss for the quarter, we are encouraged by the year-over-year improvement in our performance," said Chief Executive Dolph Baker. "Our results reflect continued solid retail demand and a modest increase in both volumes and prices compared with the first quarter of fiscal 2017." The stock, which was inactive in premarket trade, has climbed 3.8% over the past three months while the S&P 500 has gained 4.0%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

10-02-17 0654ET

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