Cal-Maine Foods Q1 Profit Surges

(RTTNews) - Cal-Maine Foods, Inc. (CALM), Tuesday reported an increase in the first-quarter profit, primarily due to higher sales driven by an increase in the net average selling price of shell eggs as well as an increase in total dozens sold.

Earnings totaled $149.98 million or $3.06 a share compared to last year's $926,000 or $0.02 a share.

Analysts, on average, polled by Thomson Reuters estimated earnings of $2.33 a share for the same period.

Revenue rose to $785.9 million from $459.3 million in previous year.

The Mississippi-based company also announced a cash dividend of approximately $1.02 per share for the fourth quarter of 2024, to be payable on November 14.