By Kuldip K. Ambastha
On the trading day of Thursday, December 29, 2022, the stock price of Cal-Maine Foods, Inc. (CALM), a fresh egg producer, fell by -14.5% per share. For the latest quarter, the company’s sales beat expectations while profits did not beat expectations. While egg demand and pricing per dozen eggs were strong, an increase in costs (for feed, processing, and packaging) weighed heavily on profits. Cal-Maine Foods is the largest egg producer in the USA, and though sales were strong the company still struggled during the latest quarter.
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Disclosure – The principals and clients of Ambastha Financial LLC have no positions in CALM.
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