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Cal-Maine Foods Inc (NASDAQ:CALM) shares rose more than 2% after-hours following the company’s reported Q3 results, with EPS of $6.62 coming in better than the consensus estimate of $4.78.
Revenue was $997.5 million, compared to the consensus estimate of $873.39 million, driven by strong conventional egg prices.
“Our results are reflective of a dynamic market environment with higher average selling prices and favorable demand. Elevated market pricing continues, primarily due to the impact of the ongoing epidemic of highly pathogenic avian influenza (“HPAI”), which has significantly reduced the nation’s egg-laying capacity,” said Sherman Miller, president and CEO.
Furthermore, the company announced a cash dividend of approximately $2.20 per share.
