Cal-Maine Foods Q1 revenue misses as conventional egg prices tumble
Overview
U.S. egg producer's Q1 revenue fell 41%, missing analyst expectations
Q1 loss per share missed analyst expectations as conventional egg prices dropped sharply
Company repurchased $5 mln in shares and will not pay a dividend for Q1
Outlook
Company expects over 60% growth in Prepared Foods capacity by H1 fiscal 2028
Cal-Maine Foods says timing of conventional shell egg market rebalance remains uncertain
Company sees continued opportunities in Specialty Shell Eggs segment
Result Drivers
CONVENTIONAL EGG PRICES - Co said conventional shell egg prices fell sharply due to industry supply imbalance after flock repopulation
SPECIALTY SEGMENT PRESSURE - Specialty Shell Eggs sales declined due to lower selling prices and higher feed and production costs
PREPARED FOODS PRODUCTION REDUCTIONS - Prepared Foods sales fell as temporary production reductions during capacity expansion lowered volumes
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Miss | $539.61 mln | $561.56 mln (4 Analysts) |
Q1 Loss Per Share | Miss | $1.26 | $0.77 (4 Analysts) |
Q1 Net Loss | Miss | $58.62 mln | $35.41 mln (3 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the fishing & farming peer group is "buy."
Wall Street's median 12-month price target for Cal-Maine Foods, Inc. is $80.00, about 16.7% above its September 29 closing price of $68.55
The stock recently traded at 52 times the next 12-month earnings vs. a P/E of 19 three months ago
Reuters Recommended Reads
Sept 28 - China to cut tariffs on US farm goods, but list excludes soybeans
Sept 28 - Rain came too late to rescue EU summer crop yields, MARS says
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)