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Cal-Maine Foods
CALM reported a 7% drop in its fiscal first-quarter earnings.
Cal-Maine's quarterly profit fell to $8.8 million, or $0.36 per share, from $9.4 million, or $0.39 per share, in the year-ago period.
Its sales rose 17% to $319.5 million, while gross margin shrank to 14.1% from 16.4%. Analysts were expecting a profit of $0.36 per share on revenue of $296.73 million.
Cal-Maine shares closed at $48.91 on Friday.
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