Business
Cal-Maine Foods Reports Results for Second Quarter Fiscal 2025
RIDGELAND, Miss.--(BUSINESS WIRE)-- Cal-Maine Foods, Inc. (NASDAQ: CALM) (“Cal-Maine Foods” or the “Company”), the largest producer and distributor of fresh
About this update from Cal-maine Foods, Inc.
[{"type":"text","content":" RIDGELAND, Miss.--(BUSINESS WIRE)--\nCal-Maine Foods, Inc. (NASDAQ: CALM) (“Cal-Maine Foods” or the “Company”), the largest producer and distributor of fresh shell eggs in the United States, today reported results for the second quarter of fiscal 2025 (thirteen weeks) ended November 30, 2024.\n\n\nSecond Quarter Fiscal 2025 Highlights\n\n\n\nQuarterly net sales of $954.7 million\n\n\n\nQuarterly net income of $219.1 million, or $4.47 per diluted share\n\n\n\nQuarterly record for total dozens sold and specialty dozens sold\n\n\n\nCash dividend of approximately $73.0 million, or approximately $1.49 per share, pursuant to the Company’s established dividend policy\n\n\n\nOverview\n\n\nSherman Miller, president and chief executive officer of Cal-Maine Foods, stated, “Cal-Maine Foods delivered a very strong financial and operating performance in the second quarter of fiscal 2025. Robust demand for shell eggs resulted in a significant increase in dozens sold for the quarter, which included the seasonal boost leading up to the Thanksgiving holiday and sales from our latest acquisition completed in June. Our results also reflect higher market prices, which have continued to rise this fiscal year as supply levels of shell eggs have been restricted due to recent outbreaks of highly pathogenic avian influenza (“HPAI”). Our team did an outstanding job in managing our production as well as making outside purchases in order to meet the needs of our valued customers. We were fortunate to have the ability to leverage our significant scale and benefit from recent acquisitions, which have helped support our production capacity in this challenging supply environment.\n\n\n“As demand continues to outpace supply, we remain focused on making additional strategic investments to expand our operations. We currently have approximately $60 million in new capital projects directed to the expansion of our cage-free capacity, including the $40 million in projects that we announced in October. The projects include the addition of five new cage-free layer houses and two pullet houses across the Company’s locations in Florida, Georgia, Utah and Texas. Upon completion, we expect the projects to provide additional production capacity for approximately 1.1 million cage-free layer hens and 250,000 pullets by late summer 2025. We are also investing $15 million to ex...