Tue, Oct 1, 8:10 PM (80 days ago)
For the first quarter of fiscal 2025, Cal-Maine Foods, Inc. reported significant financial improvements, with net sales reaching $785.9 million, up from $459.3 million in the prior year. This increase was driven by a 125.6% rise in average selling prices due to supply constraints from HPAI outbreaks, alongside a 13.5% increase in dozens sold. Gross profit surged to $247.2 million (31.5% margin) compared to $45.4 million (9.9% margin) in Q1 FY2024. Operating income was $187 million, reversing a loss from the previous year. Cash flow from operations improved to $117.5 million, bolstered by lower feed costs and higher selling prices. However, cash decreased by $56.2 million due to acquisitions, including ISE America, which is expected to enhance market reach. Current assets totaled $1.34 billion, with a current ratio of 4.1. The company declared a dividend of approximately $50 million, reflecting strong profitability. Despite uncertainties from HPAI and fluctuating commodity prices, Cal-Maine anticipates continued growth driven by its acquisitions and increasing demand for specialty eggs.