Cal-Maine Foods reports Q2 EPS $4.07, consensus $4.24

Reports Q2 revenue $801.7M, consensus $797.8M. CEO Sherman Miller says: "We are proud to report another strong quarterly financial and operating performance for Cal-Maine Foods, with record sales and net income for the second quarter of fiscal 2023. These results reflect the current market environment characterized by record average selling prices for conventional eggs, primarily due to reduced supply related to the outbreak in the U.S. of highly pathogenic avian influenza, and good customer demand. There have been no positive tests for HPAI at any of Cal-Maine Foods’ owned or contracted production facilities as of December 28, 2022. Consumer demand for shell eggs continued to be good in the quarter, especially leading up to the Thanksgiving holiday, and we experienced record quarterly volume levels for specialty eggs sold. As always, we strive to offer consumers a wide range of quality choices in shell eggs as well as enhanced egg products offerings. Our ability to meet changing demand trends with a favorable product mix has been an important differentiator for Cal-Maine Foods. With solid execution, we continued to meet the needs of our customers."