Cal-Maine (CALM) Shares Pop on Q3 Results, Increased Volumes; Dividend Doubled
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Price: $43.79 -1.93%
Revenue Growth %: +18.7%
Financial Fact:
Less: Net loss attributable to noncontrolling interest: -4K
Today's EPS Names:
NED, OESX, WSTL, More
Revenue Growth %: +18.7%
Financial Fact:
Less: Net loss attributable to noncontrolling interest: -4K
Today's EPS Names:
NED, OESX, WSTL, More
Trade CALM Now!
Cal-Maine (Nasdaq: CALM) shares are ripping Monday, following a solid third-quarter 2011 report from the Jackson, MS-based company.
Cal-Maine reported a 2.6% drop in net income from $34.5 million to $33.6 million, or $1.41 per share. On an adjusted basis, excluding a one-time cash distribution, EPS was $1.28.
Revenue in the quarter bumped-up 1.3% from $271.2 million to $274.7 million.
Overall, the consensus was looking for EPS of $1.03 on sales of $284.8 million.
Cal-Maine also increased its quarterly dividend for Q311, from the current rate of $0.2125 to $0.47 per share. The dividend yields 6.8% at today's trading range.
CEO Dolph Baker said that, although he was pleased with the improvement in sales and volumes, Cal-Marine's "profitability was affected by higher feed costs." Lower shell egg prices were offset by "the higher volume of specialty egg sales, which carry a higher selling price."
Dozen eggs sold volume in the quarter increased 2% from 210.92 million to 215.23 million.
Cal-Maine shares are up 4.2% in early market trade Monday on increased trading volume.
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Cal-Maine reported a 2.6% drop in net income from $34.5 million to $33.6 million, or $1.41 per share. On an adjusted basis, excluding a one-time cash distribution, EPS was $1.28.
Revenue in the quarter bumped-up 1.3% from $271.2 million to $274.7 million.
Overall, the consensus was looking for EPS of $1.03 on sales of $284.8 million.
Cal-Maine also increased its quarterly dividend for Q311, from the current rate of $0.2125 to $0.47 per share. The dividend yields 6.8% at today's trading range.
CEO Dolph Baker said that, although he was pleased with the improvement in sales and volumes, Cal-Marine's "profitability was affected by higher feed costs." Lower shell egg prices were offset by "the higher volume of specialty egg sales, which carry a higher selling price."
Dozen eggs sold volume in the quarter increased 2% from 210.92 million to 215.23 million.
Cal-Maine shares are up 4.2% in early market trade Monday on increased trading volume.
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