Cal-Maine Swings to Q4 Loss as Egg Prices Plunge 70%, Suspends Dividend
CALM sits 20% above its 52-week low of $71.92.
Summary
Cal-Maine swung to a $35.9M Q4 loss from a $342.5M profit a year ago as conventional egg prices collapsed over 70%. Sales halved to $552.6M, missing estimates. The company suspended its variable dividend until it recovers the loss. CEO Sherman Miller pointed to an oversupplied market but noted early signs of flock moderation that could tighten supply in coming quarters. The stock fell another 3.5% on Wednesday, adding to a roughly 20% decline over the past year. This follows the earlier GlobeNewswire report of the same loss but adds management's outlook and the dividend suspension. The DOJ antitrust settlement from late June removes a legal overhang, but the core earnings pressure from egg prices remains the dominant driver.
At the time of this announcement, CALM was trading at $85.95 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $4.1B. The 52-week trading range was $71.92 to $126.40. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.