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Cal-Maine Foods fiscal Q4 results top estimates amid record sales

Investing.com -- Cal-Maine Foods reported Tuesday fiscal third-quarter results that beat Wall Street estimates as record sales helped ease the impact of falling egg prices.

Cal-Maine Foods Inc (NASDAQ:CALM) rose more than 6% in afterhours following the report. 

The egg producer reported earnings of $3.01 per share on revenue of $703.1 million, missing analyst estimates of $2.11 on revenue of $603.7M, respectively.

Dozens eggs sold in the quarter swelled to 300.8M in the quarter from 294.4M in the quarter earlier, but at lower prices. The net average selling price per dozen $2.247 in Q2 compared with $3.298 a year earlier. 

"Fueled by strong demand, our total sales volumes (dozens sold) for the quarter were higher than the third quarter of fiscal 2023 and reached a company record," the company said

For Q3, Cal-Maine Foods will pay a cash dividend of approximately $1.00 per share on May 16 to shareholders on record of May 1. 

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