NASDAQ$CALM
Cal-Maine Foods, Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Cal-Maine Foods' financial performance was strong in Q3 2024, marked by record sales volume despite lower average selling prices compared to the previous year.
Cal-Maine Foods reported a decrease in net sales and net income for the third quarter of fiscal 2024 compared to the same period last year, primarily due to lower average selling prices of eggs. However, sales volumes increased, and the company achieved record quarterly sales volume of total and specialty dozens sold.
- Net sales for the quarter were $703.1 million, compared to $997.5 million in the prior year.
- Net income was $146.4 million, or $3.01 per basic common share, down from $323.2 million, or $6.62 per diluted share, in the prior year.
- Total sales volumes increased by 3.2% to 300.8 million dozens, a company record.
- The company experienced an HPAI outbreak in Kansas, leading to the depopulation of approximately 1.5 million laying hens and 240,000 pullets.
Headline financials
Revenue & EPS history
Cal-Maine Foods · Revenue · Quarterly
$703M
Revenue by segment
Cal-Maine Foods · $445M total across 2 segments · Q1 2024
- Conventional Eggs$226M-50.6%50.8%
- Specialty Eggs$219M+9.2%49.2%
Forward guidance
Cal-Maine Foods is focused on meeting the strong demand for shell eggs, extending its market reach, and making strategic investments to drive innovation and efficient production. They anticipate fiscal 2024 to be successful.
Tailwinds
- Demand for shell eggs has remained strong.
- The company is focused on meeting customer needs with diverse, quality products.
- Cal-Maine is identifying opportunities to extend its market reach.
- Significant investments are being made to drive innovation and more efficient production.
- The company has a strong balance sheet to fund growth initiatives, including potential acquisitions.
Headwinds
- The company has navigated significant challenges related to HPAI.
- There is a risk of future HPAI outbreaks, especially during migration seasons.
- Price volatility could remain due to uncertain external forces.
- Soybean meal supply has remained tight relative to demand.
- A facility in Parmer County, Texas, tested positive for HPAI, resulting in depopulation of approximately 3.6% of the Company’s total flock.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
-0.7%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-0.0%
Avg return
30 days after
42%
27 / 65 earnings
Positive
+11.0%
Q3 2014
Best reaction
-16.6%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -0.1% | -0.3% | — | |
| Q2 2026 | -1.6% | -6.6% | +4.4% | |
| Q1 2026 | -1.1% | -1.4% | -6.7% | |
| Q4 2025 | +0.8% | +3.9% | +5.9% | |
| Q3 2025 | +2.5% | +9.3% | +1.0% | |
| Q2 2025 | -0.0% | -2.7% | +3.8% | |
| Q1 2025 | +0.8% | +13.0% | +17.3% | |
| Q4 2024 | +3.7% | +9.8% | +11.7% | |
| Q3 2024 | +4.3% | +7.4% | -1.8% | |
| Q2 2024 | -0.7% | -2.5% | +0.5% | |
| Q1 2024 | -7.3% | -3.2% | +4.6% | |
| Q4 2023 | +0.5% | +2.4% | +4.1% | |
| Q3 2023 | +4.9% | +10.2% | -12.9% | |
| Q2 2023 | -16.6% | -14.6% | -13.7% | |
| Q1 2023 | +1.1% | -6.9% | -6.0% | |
| Q4 2022 | +0.3% | +1.5% | +5.3% | |
| Q3 2022 | +3.0% | +14.5% | +7.7% | |
| Q2 2022 | -1.8% | +0.2% | +5.1% | |
| Q1 2022 | +0.3% | -2.4% | +1.0% | |
| Q4 2021 | -2.7% | -3.0% | -1.5% | |
| Q3 2021 | -3.5% | -4.1% | -7.9% | |
| Q2 2021 | +3.1% | +2.1% | +4.2% | |
| Q1 2021 | -1.0% | -1.4% | -0.1% | |
| Q4 2020 | -0.5% | -0.4% | -6.7% | |
| Q3 2020 | +3.7% | -4.5% | +1.5% | |
| Q2 2020 | -10.2% | -9.9% | -13.6% | |
| Q1 2020 | -13.9% | -16.4% | -11.5% | |
| Q4 2019 | +0.3% | -0.8% | +5.6% | |
| Q3 2019 | -5.9% | -5.8% | -7.5% | |
| Q2 2019 | -1.3% | -0.6% | +1.4% | |
| Q1 2019 | -9.6% | -8.1% | +0.8% | |
| Q4 2018 | -2.1% | -2.1% | +8.6% | |
| Q3 2018 | +5.1% | +6.9% | +7.1% | |
| Q2 2018 | -0.3% | -0.1% | -6.1% | |
| Q1 2018 | +5.8% | +3.0% | +6.6% | |
| Q4 2017 | -0.1% | +3.4% | -6.1% | |
| Q3 2017 | +0.5% | -1.5% | +3.6% | |
| Q2 2017 | +5.3% | +6.4% | +1.9% | |
| Q1 2017 | -3.2% | -8.6% | -11.3% | |
| Q4 2016 | -5.4% | -8.1% | -2.1% | |
| Q3 2016 | +6.5% | — | — | |
| Q2 2016 | +1.5% | — | — | |
| Q1 2016 | -9.9% | — | — | |
| Q4 2015 | -0.7% | — | — | |
| Q3 2015 | -0.1% | — | — | |
| Q2 2015 | -3.3% | — | — | |
| Q1 2015 | +4.5% | — | — | |
| Q4 2014 | -4.2% | — | — | |
| Q3 2014 | +11.0% | — | — | |
| Q2 2014 | -0.0% | — | — | |
| Q1 2014 | -1.1% | — | — | |
| Q4 2013 | +1.0% | — | — | |
| Q3 2013 | +0.1% | — | — | |
| Q2 2013 | -6.0% | — | — | |
| Q1 2013 | +2.7% | — | — | |
| Q2 2012 | -0.2% | — | — | |
| Q4 2011 | -0.2% | — | — | |
| Q4 2010 | -0.2% | — | — | |
| Q4 2012 | +3.4% | — | — | |
| Q3 2012 | -0.2% | — | — | |
| Q3 2011 | -0.2% | — | — | |
| Q2 2011 | +1.0% | — | — | |
| Q1 2011 | -2.1% | — | — | |
| Q1 2012 | -2.1% | — | — | |
| Q3 2010 | -3.8% | — | — |
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