Cal-Maine Foods Inc Posts Higher Q3 Earnings; Shatters Estimates (CALM)

Before the opening bell on Monday morning, Cal-Maine Foods Inc (CALM) reported its third quarter earnings, posting higher revenues and earnings than last year’s same period.

CALM’s Earnings in Brief

  • CALM reported third quarter sales of $395.5 million, which were up from last year’s Q3 revenues of $360.4 million.
  • Net income for the quarter came in at $42.9 million, or $1.77 per diluted share, up from last year’s earnings of $30.6 million, or $1.27 per share.
  • Cal-Maine blew analysts’ EPS estimates of $1.41 out of the water.

CEO Commentary

CALM’s chairman, president and CEO, Dolph Baker, had the following comments: “Cal-Maine Foods delivered a solid performance for the third quarter of fiscal 2014 with our net sales up 10 percent over the same period last year. The higher sales reflect both improved volumes through the holiday season and higher average selling prices compared with the third quarter of fiscal 2013. Consumer demand for shell eggs has been strong at the retail level for both generic and specialty eggs, supported by below average temperatures across the country. In addition, the egg products segment of the industry has continued to experience strong demand due to the introduction of breakfast items at many quick serve restaurants, as well as increased exports.

CALM’s Dividend

Cal-Maine has been inconsistent with its dividend payments in the past, having paid its most recent dividend of 36 cents on February 13. Before that the company paid a dividend of 7 cents in November, 2013. It’s hard to predict what CALM’s next payout will be, but judging from its history of paying out higher dividends in April/May versus February, and due to its positive earnings release, CALM is likely to declare a dividend above 36 cents in the coming month.

Stock Performance

CALM stock was inactive in pre-market trading. YTD, the company’s stock is up 0.19%.

CALM Dividend Snapshot

As of 8:30am on March 31, 2014

WMT dividend yield annual payout payout ratio dividend growth

Click here to see the complete history of CALM dividends.

The Bottom Line

Tiffany & Co. (TIF) 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.

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