Cal-Maine's Net Falls 22% on Higher Feed Costs |
| Wall Street Journal - Mar 26, 2012 |
Cal-Maine Foods Inc.'s CALM -3.54%fiscal third-quarter earnings fell 22% from a year-earlier period that included an investment gain as higher costs hurt the fresh shell eggs company's margins despite higher sales.
Cal-Maine, the largest producer and distributor of fresh shell eggs in the U.S., has seen its sales jump in recent quarters, aided by a rise in average selling prices and growing demand for specialty eggs like nutritionally-enhanced, organic and cage free. But a surge in production costs, especially for feed, have squeezed the company's margins and dampened its bottom-line of late.
Cal-Maine—whose brands include Eggland's Best, Farmhouse and 4-Grain—reported a profit of $26.1 million, or $1.09 a share, for the quarter ended Feb. 25, down from $33.6 million, or $1.40 a share, a year earlier. The year-earlier quarter included a 13 cents a share gain from a one-time cash distribution received for the company's nonvoting stock ownership in the Eggland's Best Inc. cooperative.
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- Posted: 2012-03-26 10:01:07
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