Cal-Maine's profit cracks as egg oversupply crushes prices
Seeking Alpha ·
Shares of Cal-Maine Foods ( CALM ) are on the defensive Wednesday morning as significant declines in shell egg prices weighed on fiscal fourth-quarter profits and drove the company into the red. “During the quarter, industry oversupply drove wholesale shell egg prices to
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Cal-Maine Foods faces downward pressure on its stock price as fourth-quarter earnings turned to a loss in the wake of a sharp drop in wholesale prices driven by an oversupply of eggs. This price decline is analyzed as a result of short-term supply increases directly hitting corporate profitability. Investors need to closely monitor future supply adjustments and the timing of price recovery.
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- Food — Cal-Maine Foods' fourth-quarter profitability worsened and recorded a loss as wholesale egg prices plummeted due to oversupply.
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