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Cal-Maine Foods Earnings: CALM Stock Lower Despite Earnings Beat

Cal-Maine Foods earnings for the company’s fiscal third quarter of 2019 have CALM stock heading lower on Monday.

Cal-Maine Foods Earnings: CALM Stock Lower Despite Earnings Beat

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Cal-Maine Foods (NASDAQ:CALM) reported earnings per share of 82 cents for its fiscal third quarter of the year. This is down from the company’s earnings per share of $1.26 from the same time last year. It does come in above Wall Street’s earnings per share estimate of 42 cents for the quarter, but couldn’t keep CALM stock from falling today.

The Cal-Maine Foods earnings report for its fiscal third quarter of 2019 also includes net income of $39.77 million. This is a drop from the company’s net income of $96.29 million reported in its fiscal third quarter of 2018.

Cal-Maine Foods earnings for its fiscal third quarter of the year has operating income coming in at $38.19 million. The company’s operating income from the same period of the year prior was $76.20 million.

Revenue reported by Cal-Maine Foods for its fiscal third quarter of 2019 comes in at $383.99 million. This is worse than the company’s revenue of $435.82 million from its fiscal third quarter of 2018. However, it is better than Wall Street’s revenue estimate of $370.76 million for the period, but CALM stock is still down today.

The most recent Cal-Maine Foods earnings report also includes news of a cash dividend for investors in CALM stock. The company is paying a dividend of 27.20 cents per share to holders of CALM stock. This dividend will be payable May 16, 2019, to holders of record as of May 1, 2019.

CALM stock was down 3% as of Monday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/04/cal-maine-foods-earnings-drops-stock-despite-beat/.

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