Cal-Maine swings to first-quarter net loss of 58.62 million; net sales fall 42% to 539.61 million
CALM•Cal-Maine Foods reported a first-quarter net loss attributable to shareholders of $58.62 million as net sales fell 42% to $539.61 million year over year.
1. Quarterly results
Cal-Maine Foods posted an operating loss of $82.17 million, swinging from operating income in the prior-year quarter. Prepared Foods accounted for 11.7% of net sales, while Specialty Shell Eggs and Prepared Foods together increased 17 percentage points to 54.1%. The company repurchased 66,601 shares for $5 million and declared no cash dividend, citing a cumulative loss of $94.5 million to recover.
