Cal-Maine Profit Rises, Yet Misses Estimate

(RTTNews) - Cal-Maine Foods Inc (CALM), a producer of shell eggs, Tuesday reported second-quarter net earnings of $36.6 million or $0.76 per share compared with $26 million or $0.54 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.85 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were up 6.9% at $378.6 million compared with $354.3 million in the prior year.

The company sold 263.4 million eggs during the quarter, up from 252.8 million eggs last year. Net average selling price per dozen was about $1.38, up from $1.34 a year ago.

Cal-Maine Foods announced a quarterly cash dividend of about $0.252 per share.

CALM closed Tuesday at $44.23, up $0.33 or 0.75%, on a volume of 415k shares on the Nasdaq. In after hours, the stock dropped $1.12 or 2.53% at $43.11.