Cal-Maine Foods (NASDAQ:CALM) earnings for the egg company’s fiscal second quarter of 2020 have CALM stock taking a beating on Monday. This is due to its diluted losses per share of -21 cents on revenue of $311.52 million. These are both below Wall Street’s estimates of 3 cents per share and $324.07 million.
Here’s a more in-depth look at the most recent Cal-Maine Foods earnings report.
- CALM saw its EPS of 45 cents in the same period of the year prior decline to a loss in fiscal Q2 2020.
- Revenue was down by 12.50% compared to the same period of the year prior.
- The quarter also has the company reporting an operating loss instead of operating income.
- The same also holds true for net loss, which is a flip from net income in the Cal-Maine Foods earnings report from the same time last year.
Dolph Baker, Chairman and CEO of Cal-Maine Foods, says this about the CALM stock earnings report.
“We continued to experience challenging market conditions for the second quarter of fiscal 2020. While our sales volumes remained relatively flat in the second quarter compared to last year, our financial results reflect lower average selling prices compared with the same period of fiscal 2019.”
The Cal-Maine Foods earnings report also notes that there will be no dividend for investors this quarter. This is due to its variable dividend policy, which doesn’t require a dividend without net income.
CALM stock was down 9.35% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.