** charts before earnings **
** charts after earnings **
Cal-Maine Foods misses by $0.08, misses on revs:
- Reports Q3 (Feb) earnings of $0.09 per share, $0.08 worse than the two analyst estimate of $0.17; revenues fell 31.9% year/year to $306.5 mln vs the $331.87 mln Capital IQ Consensus.
- "The egg markets have remained under pressure, and we do not expect to see any meaningful improvement until there is a better balance of supply and demand. Following the 2015 avian influenza -related laying hen losses, United States Department of Agriculture data showed that the egg industry repopulated farms and laying hen numbers were reported to approach pre-AI levels. The younger, more productive hen population has resulted in a greater number of eggs. Additionally, in February 2017, the USDA issued revised data that showed the size of the laying hen flock for 2015 and 2016 was actually meaningfully higher in both years than previously reported. Overall, market demand trends have not kept pace with these higher production levels."
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