Cal-Maine Foods Earnings Fall; Meets Estimates (CALM)

On Monday, Cal-Maine Foods Inc (CALM) reported lower first quarter profits as its production costs increased.

The Jackson, MS-based company reported first quarter net income of $8.8 million, or 36 cents per share, down from $9.4 million, or 39 cents per share a year ago. On average, analysts expected to see earnings of 36 cents per share.

Total revenue for the quarter rose 17% to $319.5 million from $272.9 million last year.

CALM reported that its feed costs rose 7% during the quarter, but the company is expecting these costs to fall for the rest of FY2014.

Cal-Maine has also declared its next dividend payment of 6.8 cents. This dividend will be paid on November 14 to shareholders of record on October 30.

Cal-Maine Foods shares were mostly flat during pre-market trading Monday. The stock is up 22% YTD.

The Bottom Line

Shares of Cal-Maine Foods Inc (CALM) have a 3.46% yield based on Friday’s closing price of $48.91.

Cal-Maine Foods Inc (CALM) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here