Cal-Maine's stock fell after hours Monday after a 30% drop in egg prices cut deep in the egg producer's profitability.
Shares of Cal-Maine Foods Inc. fell in the extended session Monday after a 30% drop in egg prices cut deep into the egg producer’s profitability, and revenue fell more than Wall Street expected.
For the quarter ended Sept. 2, net income plummeted 99% to $926,000, or 2 cents a share, from $125.3 million, or $2.57 a share, in the same period a year ago. That fell well short of the FactSet consensus analyst estimate of 33 cents a share, or a decline of about 87%.
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