Cal-Maine Foods IN Up 2.07% To $61.78 After Earnings Beat

Cal-Maine Foods IN (CALM) said after close Tuesday that it earned $2.57 per share in quarter one 2023.

On the revenue line, the company reported $658.3 million, beating estimates by $40.9 million.

In the same quarter a year ago, the company lost $0.37 per share on revenue of $331.7 million.

The stock is up 2.07% to $61.78 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Cal-Maine Foods IN has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 100, putting Cal-Maine Foods IN in the top 25% of stocks. The firm was recently trading at a 52-week high of $61.83 on September 27, 2022 and set a 52-week low on October 11, 2021 at $34.29.

Cal-Maine Foods Inc produces and sells shell eggs. Its main market is the United States. The company's product portfolio contains nutritionally enhanced, cage-free, organic, and brown eggs. Cal-Maine Foods markets the shell eggs to a diverse group of customers, including grocery-store chains, club stores, and foodservice distributors. The company's brands are: Egg-Land's, Land O' Lakes, Farmhouse, and 4-Grain.