The 10-second takeaway
For the quarter ended Sep. 1 (Q1), Cal-Maine Foods missed slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share grew significantly.
Margins grew across the board.
Cal-Maine Foods logged revenue of $272.9 million. The three analysts polled by S&P Capital IQ hoped for revenue of $277.2 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $243.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.39. The three earnings estimates compiled by S&P Capital IQ predicted $0.38 per share. GAAP EPS of $0.39 for Q1 were 200% higher than the prior-year quarter's $0.13 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 16.4%, 250 basis points better than the prior-year quarter. Operating margin was 5.7%, 330 basis points better than the prior-year quarter. Net margin was 3.4%, 210 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $320.2 million. On the bottom line, the average EPS estimate is $1.10.
Next year's average estimate for revenue is $1.22 billion. The average EPS estimate is $3.27.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 728 members out of 768 rating the stock outperform, and 40 members rating it underperform. Among 166 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 156 give Cal-Maine Foods a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cal-Maine Foods is outperform, with an average price target of $41.50.
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