Cal-Maine Foods, Inc. (NASDAQ:CALM) stock rose Wednesday after the egg producer delivered a second-quarter earnings beat, easing investor concerns over falling egg prices even as revenue and profitability slid sharply year over year.
The company reported second-quarter earnings per share of $2.13, beating the analyst consensus estimate of $1.94.
Quarterly sales of $769.50 million (down 19.4% year over year) missed the Street view of $826.395 million.
“With lower egg prices, our increasingly diversified business model, paired with disciplined execution, proved to be a source of resilience,” said Sherman Miller, president and chief executive officer of Cal-Maine …