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Cal-Maine Foods Shares Fall Following Earnings Miss, Revenue Beat

·1 min read

Investing.com — Cal-Maine Foods Inc (NASDAQ:CALM) announced earnings per share of 2 cents on revenue of $390.9 million. Analysts polled by Investing.com anticipated EPS of 28 cents on revenue of $390.2 million.

Revenue was up 12.5% compared to the $347.3 million reported during the same period last year.

Dolph Baker, chairman and CEO of Cal-Maine Foods, said: “We are pleased that our operating results helped drive a return to modest profitability in the second quarter despite the impacts of higher costs for feed ingredients, processing, packaging, transportation and labor."

Adding: “In spite of current and expected inflationary headwinds, we remain focused on what we can control by managing our costs and running efficient operations."

Cal-Maine's share price fell 7.7% after-hours, to $35.35.

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