Cal-Maine Foods Reports Third 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 third quarter of fiscal 2021 (thirteen weeks) and thirty-nine-week period ended February 27, 2021.\n\nNet sales for the third quarter of fiscal 2021 were $359.1 million, a 3.9 percent increase compared to $345.6 million for the third quarter of fiscal 2020. The Company reported net income of $13.5 million, or $0.28 per basic and diluted share, for the third quarter of fiscal 2021, compared to net income of $13.7 million, or $0.28 per basic and diluted share, for the third quarter of fiscal 2020.\n\nFor the thirty-nine weeks ended February 27, 2021, net sales were $999.2 million, an 11.2 percent increase compared with $898.3 million for the prior-year period. The Company reported net income of $6.3 million, or $0.13 per basic and diluted share, for the thirty-nine weeks ended February 27, 2021, compared to a net loss of $42.1 million, or $0.87 per basic and diluted share, for the prior-year period.\n\nDolph Baker, chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “We are pleased with our results for the third quarter of fiscal 2021, which reflect strong retail demand for shell eggs as consumers have continued to purchase more eggs for preparing meals at home. While we saw modest improvement in the food service and hospitality business as COVID-19-related restrictions have gradually lifted in select parts of the country, this market segment has not returned to pre-pandemic demand levels. For the third quarter, total dozens sold were up 3.1 percent over the same period last year, reaching 279.7 million dozens sold. We are proud of our dedicated employees who have continued to work under extraordinary conditions to meet customer demand and support the nation’s food supply. Our top priority is the health and safety of our employees, and we remain vigilant in managing our operations in a safe manner. We are working to provide appropriate education and convenient access to the COVID-19 vaccines for our employees based on the latest Centers for Disease Control (CDC) guidelines and subject to availability in the states where we operate.\n\n“Our average sales price for shell eggs was $1.25 per dozen for the third quarter this fiscal year compared with $1.24 per dozen for the same period last year. Sales prices have ...

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