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JACKSON, Miss. - Cal-Maine Foods , Inc. (NASDAQ:CALM) reported third-quarter fiscal 2025 results that fell short of analyst expectations, sending shares down 3.7% in after-hours trading.
The egg producer posted earnings per share of $10.38, missing the consensus estimate of $10.72. Revenue came in at $1.42 billion, slightly below expectations of $1.43 billion but up significantly from $703.1 million in the same quarter last year.
Cal-Maine sold a record 331.4 million dozen eggs in the quarter, a 10.2% increase from the prior year. The average selling price per dozen jumped to $4.060 from $2.247 a year ago, driven by reduced egg supply across the industry due to avian influenza outbreaks.
"Dynamic market conditions and HPAI-related supply shortages persisted this quarter," said Sherman Miller, president and CEO of Cal-Maine Foods. "However, the entire Cal-Maine Foods team did an outstanding job in maximizing production through a period of high demand, while operating safely and maintaining diligence on biosecurity measures."
The company also announced it has entered into a definitive agreement to acquire Echo Lake Foods for approximately $258 million. The transaction is expected to close by the end of fiscal 2025.
Cal-Maine declared a quarterly dividend of approximately $3.46 per share and approved a new $500 million share repurchase program.
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