Cal-Maine Foods, the nation’s largest producer of eggs, reported this week that its revenues doubled and its profit surged by 718% in the last quarter as a nationwide egg shortage has sent prices soaring.
Shares of Cal-Maine Foods, the Jackson, Miss.-based company and the only egg producer that is publicly traded, were up more than 3.4% as of 10:46 a.m. on Thursday.
The firm reported net sales of $997.5 million for its fiscal quarter ending in February, up 109% year over year.
That beat the $888.2 million average estimate of three analysts, according to Refinitiv.
Cal-Maine, which controls about 20% of the national egg market, reported a net income of $323.2 million, a seven-fold rise from the same quarter last year.
nypost.com/2023/03/30/cal-maine-foods-profits-surge-718-amid-us-egg-shortage/