Why Cal-Maine Foods Stock Dropped After-Hours
Portfolio Pulse from Ryan Gustafson
Cal-Maine Foods, Inc. (NASDAQ:CALM) reported worse-than-expected Q1 sales results, causing its shares to drop in the after-hours trading session. The company posted earnings of two cents per share, missing by 55 cents, and revenue of $459.34 million, missing by $20.18 million. The company's CEO attributed the results to the return of egg prices to normal levels after a record high in fiscal 2023 and the recovery of egg supply from a recent avian influenza outbreak.
October 03, 2023 | 8:48 pm
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Cal-Maine Foods' shares dropped after reporting lower than expected Q1 sales. The company's earnings and revenue missed estimates, which could negatively impact investor sentiment.
Cal-Maine Foods reported lower than expected Q1 sales, which is a key performance indicator. This could lead to a decrease in investor confidence and a potential drop in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100