Cal-Maine Foods Misses Estimates (CALM)

Cal-Maine Foods, Inc.

missed estimates, saying it earned 63 cents per share in its second quarter, compared to Wall Street estimates of 72 cents per share. Revenues were better than expected, coming in at $234.5 million versus estimates of $231.2 million. "The current and expected balance of supply and demand for corn and soybean meal points to a tight feed supply throughout the next marketing year," Chief Executive Dolph Baker said in a statement. Shares of CALM closed at $33.82 on Thursday. Cal-Maine Foods engages in the production, grading, packaging, marketing, and distribution of shell eggs primarily in the southeastern, southwestern, mid-western, and mid-Atlantic regions of the United States.