Cal-Maine Foods Q3 EPS $3.00 Beats $2.46 Estimate, Sales $703.08M Beat $692.35M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cal-Maine Foods (NASDAQ:CALM) reported Q3 earnings of $3.00 per share, surpassing the $2.46 estimate, and sales of $703.08M, exceeding the $692.35M estimate. However, this represents a 54.68% decrease in earnings and a 29.52% decrease in sales from the same period last year.
April 02, 2024 | 8:06 pm
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Cal-Maine Foods reported higher-than-expected Q3 earnings and sales, with EPS at $3.00 and sales at $703.08M, beating estimates. However, both metrics show significant declines from the previous year.
Beating earnings and sales estimates typically has a positive short-term impact on a company's stock price, as it indicates better-than-expected financial health. However, the significant year-over-year declines in both earnings and sales may temper investor enthusiasm, suggesting a cautious optimism in the short term.
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