Cal-Maine Foods stock fell 3.7% after the company reported a fourth-quarter loss of $0.76 per share, missing analyst estimates of a $0.11 per share profit. Quarterly sales came in at $552.6 million, well below the forecasted $657 million, as wholesale egg prices dropped 71% year over year due to industry oversupply. For the full fiscal year, revenue declined 32% and profit fell 73%, though the company still earned $6.63 per share. Management noted that egg prices have rebounded by more than 90% in recent weeks, which could support a recovery in the coming quarters.
Cal-Maine Foods IncReported Q4 loss of $0.76 per share vs expected profit of $0.11, and sales missed forecasts due to oversupply.
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