LONDON, UK / ACCESSWIRE / January 17, 2018 / Active-Investors.com has just released a free earnings report on Cal-Maine Foods, Inc. (NASDAQ: CALM). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CALM. The Company posted its financial results for the second quarter fiscal 2018 (Q2 FY18) on January 05, 2018. The Jackson Mississippi-based Company's Q2 FY18 revenues rose 42.4% on a y-o-y basis. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cal-Maine Foods most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the quarter ended on December 02, 2017, Cal-Maine's reported total sales of $361.17 million compared to total sales of $253.54 million recorded at the end of Q2 FY17. However, total sales numbers underperformed market estimate of $362.96 million. The first quarter revenue was benefitted from a 36.0% and 77.6% growth in average customer selling prices for all eggs and conventional eggs, respectively.
The egg-seller reported net loss attributed to Cal-Maine Foods of $26.14 million, or $0.54 loss per diluted share, in Q2 FY18 compared to a net loss attributed to Cal-Maine Foods of $23.01 million, or $0.48 per diluted share, in the prior-year's comparable quarter. Meanwhile, excluding one-time items, the Company reported net income of $26.6 million, or $0.55 per basic and diluted share, for Q2 FY18; however, it fell short of market estimates by $0.19 per diluted share.
Operational Metrics
In the reported quarter, consumer demand remained for eggs were favorable and the market prices remained strong throughout the Thanksgiving holiday. The Company sold 263.09 million dozen of eggs in Q2 FY18, which is higher than 252.18 million in the last year's same quarter.
Net average selling price of eggs rose from $0.971 per dozen in Q2 FY17 to $1.321 per dozen in Q2 FY18. In the reported period, specialty eggs contributed 22.6% to total number of shell eggs sold, while it accounted for 32.3% of the total shell eggs revenue. Furthermore, net average selling price of specialty eggs were $1.903 per dozen in Q2 FY18 compared to $2.003 per dozen in the quarter ended November 26, 2016.
During the reported quarter, Cal-Maine recorded gross profit came in at $82.40 million versus $3.95 million in Q2 FY17. For Q2 FY18, operating loss stood at $40.46 million compared to operating income of $38.26 million in the year ago comparable quarter. Meanwhile, excluding the impact of legal settlement expense, the Company's operating income was $40.3 million in Q2 FY18.
Balance Sheet
In six months ended December 02, 2017, net cash provided by operating activities was $64.84 million versus net cash used in operating activities of $70.19 million in Q1 FY17. As on December 02, 2017, Cal-Maine's had cash and short-term investments of $209.30 million compared to $156.03 million as on June 03, 2017. Furthermore, the Company had reported long-term debt amounting to $4.20 million as on December 02, 2017 versus $6.11 million as on June 03, 2017.
Stock Performance Snapshot
January 16, 2018 - At Tuesday's closing bell, Cal-Maine Foods' stock was slightly down 0.45%, ending the trading session at $44.00.
Volume traded for the day: 282.68 thousand shares.
Stock performance in the last three-month – up 6.54%; previous six-month period – up 23.77%; and past twelve-month period – up 2.33%
After yesterday's close, Cal-Maine Foods' market cap was at $2.29 billion.
The stock is part of the Consumer Goods sector, categorized under the Food - Major Diversified industry.
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