Overview
Cal-Maine Q4 revenue of $1.1 bln beats analyst expectations, per LSEG data
Net income for Q4 rises to $342.5 mln, driven by higher egg prices
Co acquires Echo Lake Foods in the qtr
Outlook
Cal-Maine Foods plans to expand product mix with Echo Lake Foods acquisition
Company aims to grow shell egg production capacity through strategic acquisitions
Cal-Maine Foods expects to leverage distribution channels for prepared foods growth
Result Drivers
EGG PRICE INCREASE - Higher egg prices due to avian influenza outbreaks drove revenue growth
SPECIALTY EGGS DEMAND - Record sales of specialty eggs due to strong consumer demand and acquisitions
PRODUCTION EXPANSION - Increased production capacity through acquisitions and organic growth initiatives
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$1.10 bln
$941.60 mln (3 Analysts)
Q4 EPS
$7.04
Q4 Net Income
$342.13 mln
Q4 Gross Profit
$531.51 mln
Q4 Operating income
$435.85 mln
Q4 Pretax Profit
$453.20 mln
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "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 $108.00, about 1.7% above its July 21 closing price of $106.17
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nBw5BtkZja
(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.)