Categories Earnings, LATEST, Retail

Cal-Maine Foods (NASDAQ: CALM): Q2 2020 Earnings Snapshot

— Cal-Maine Foods, Inc. (NASDAQ: CALM), a producer and marketer of shell eggs, reported a loss of $0.21 per share for the second quarter of 2020, compared to earnings of $0.45 per share last year, vs. $0.03 per share earnings analysts estimated.

— Second-quarter net loss was $10.06 million, compared to a profit of $21.81 million in the same period of last year

— Net sales decreased to $311.52 million from $356.04 million last year, vs. $327.04 million expected

Sold 261,026 dozen eggs in the second quarter, compared to 262,263 dozen last year

— Net average selling price per dozen was $1.160, compared to $1.311 in the second quarter of 2019

— Expects to improve operations by leveraging new capacity additions and planned closure of underperforming facilities

— On track to position the company as an industry leader in meeting future customer requirements for cage-free eggs

— Completed acquisition of the commercial shell eggs business of Mahard Egg Farm, which will be integrated into Cal-Maine’s existing footprint in the South Central region

— Expects more price volatility in the second half, due to headwinds from uncertainties related to trade agreements and tariffs disputes

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