Cal-Maine Foods Reports Second Quarter Fiscal 2021 Results

About this update from Cal-maine Foods, Inc.

[{"type":"text","content":" JACKSON, Miss.--(BUSINESS WIRE)--\nCal-Maine Foods, Inc. (NASDAQ: CALM) today reported results for the second quarter of fiscal 2021 (thirteen weeks) and twenty-six-week period ended November 28, 2020.\n\nNet sales for the second quarter of fiscal 2021 were $347.3 million, an 11.5 percent increase compared to $311.5 million for the second quarter of fiscal 2020. The Company reported net income of $12.2 million, or $0.25 per basic and diluted share, for the second quarter of fiscal 2021, compared to a net loss of $10.1 million, or $0.21 per basic and diluted share, for the second quarter of fiscal 2020.\n\nFor the twenty-six weeks ended November 28, 2020, net sales were $640.1 million compared to $552.7 million for the prior-year period. The Company reported net loss of $7.2 million, or $0.15 per basic and diluted share, for the twenty-six weeks ended November 28, 2020, compared to a net loss of $55.8 million, or $1.15 per basic and diluted share for the prior-year period.\n\nDolph Baker, chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “Our results for the second quarter of fiscal 2021 reflect favorable demand trends for shell eggs, primarily at the retail level as consumers continue to prepare more meals at home during the COVID-19 pandemic. Demand from food service customers has been less consistent and remains well below pre-pandemic levels, due in part to various restrictions on restaurants in place for different areas of the country. For the second quarter, total dozens sold were up 4.8 percent over the same period last year. We achieved the highest total dozens sold of any second quarter period at 273.7 million dozens, and our ratio of total dozens produced to total dozens sold was the highest of any quarterly period at 92.1 percent. We are especially grateful for the hard work and dedication of our employees who have worked to meet customer demand through extraordinary conditions. As the COVID-19 pandemic continues to affect our daily lives, our top priority is the health and safety of our employees, and we remain vigilant in managing our operations in a safe manner.\n\n“Market prices for eggs rose steadily in the early part of the second quarter and then leveled off for the remainder of the period. For example, the Urner-Barry Southeastern Regional Large Price ('UB southeastern large index') for co...

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