A Dozen Eggs Meant You Were 'Rich' This Year: Now Prices Are In Free Fall
Portfolio Pulse from Chris Katje
Cal-Maine Foods Inc (NASDAQ:CALM), the largest egg producer in the U.S., reported Q1 earnings per share and revenue of $459.34 million, both falling short of analysts’ estimates. The company's average selling prices for eggs have returned to more normalized levels after reaching record highs in fiscal 2023. The lower egg prices could hurt Cal-Maine's profit margins. The company recently acquired Fassio Egg Farms, expanding its operations in the western U.S.
October 05, 2023 | 10:23 pm
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Cal-Maine Foods reported lower than expected Q1 earnings and revenue. The falling egg prices could negatively impact the company's profit margins. However, the recent acquisition of Fassio Egg Farms could potentially offset some of the impact.
Cal-Maine Foods' earnings and revenue fell short of estimates, largely due to falling egg prices. This could negatively impact the company's stock price in the short term. However, the company's recent acquisition of Fassio Egg Farms could potentially expand its market share and offset some of the negative impact.
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