Cal-Maine Q3 sales beat

Investor's Business Daily

The nation's largest egg producer said EPS rose 17% to $1.27, missing views by 13 cents. Sales climbed 19% to $360.4 mil, above estimates of $321.4 mil. Specialty egg sales have steadily increased throughout this fiscal year and accounted for nearly 17% of eggs sold by the dozen. But higher feed costs weighed on Cal-Maine's (CALM) outlook. "Looking ahead, we expect the extremely tight national corn supply will continue to be a concern through the summer months and keep pressure on our feed costs," CEO Dolph Baker said in a release. Shares rose 0.4% to 42.71.

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