Categories Consumer, Earnings

Cal-Maine Foods (NASDAQ: CALM): Q3 2020 Earnings Snapshot

— Shell eggs producer Cal-Maine Foods, Inc. (NASDAQ: CALM) reported its third-quarter 2020 earnings of $0.28 per share versus $0.17 per share expected.

— Net sales decreased by 10% year-over-year to $345.6 million versus $338.08 million expected.

Earnings Update by AlphaStreet

— The results reflected more challenging market conditions than the company experienced for the same period last year.

— The company sold 271.28 million dozen eggs in the third quarter, compared to 271.81 million dozen eggs last year.

— The net average selling price per dozen was $1.236, compared to $1.373 in the third quarter of 2019.

— Specialty dozens sold were also down 7.1%, as sales of specialty dozens were negatively affected by low conventional egg prices. An unfavorable balance of egg supply and demand continued to adversely affect market prices.

— The current ongoing uncertainties and supply chain disruptions related to the Covid-19 outbreak and geopolitical issues surrounding trade agreements and international tariffs could create more price volatility in the future.

— Looking ahead into the fourth quarter of fiscal 2020 and fiscal 2021, the company is taking all reasonable precautions in the management of its operations in response to the outbreak of Covid-19.

— To date, Cal-Maine Foods facilities are operating normally, and the company has not experienced any supply chain or delivery disruptions.

Most Popular

Johnson & Johnson to report Q2 earnings on July 16. Here’s what to expect

Johnson & Johnson's (NYSE: JNJ) business strategy for fiscal 2025 is focused on reducing the impact of patent expirations on its revenue. Anticipating sales to benefit from growth initiatives, including

What to expect when United Airlines (UAL) reports its Q2 2025 earnings results

Shares of United Airlines Holdings, Inc. (NASDAQ: UAL) stayed green on Tuesday. The stock has gained 44% over the past three months. The airline company is scheduled to report its

Earnings Preview: Fastenal Company likely to report higher Q2 sales and profit

Fastenal Company (NASDAQ: FAST), a leading provider of industrial and construction supplies, is set to publish its second-quarter results next week. The company is among the hardest hit by the

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top