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Cal-Maine (CALM) Q2 Earnings Report Preview: What To Look For

CALM Cover Image

Egg company Cal-Maine Foods (NASDAQ: CALM) will be reporting results this Tuesday after the bell. Here’s what to expect.

Cal-Maine missed analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $1.42 billion, up 102% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates and a miss of analysts’ gross margin estimates.

Is Cal-Maine a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Cal-Maine’s revenue to grow 41.9% year on year to $909.6 million, a reversal from the 7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $6.28 per share.

Cal-Maine Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cal-Maine has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Cal-Maine’s peers in the consumer staples segment, some have already reported their Q2 results, giving us a hint as to what we can expect. McCormick posted flat year-on-year revenue, meeting analysts’ expectations, and Simply Good Foods reported revenues up 13.8%, in line with consensus estimates. McCormick traded up 3.6% following the results while Simply Good Foods was also up 1.7%.

Read our full analysis of McCormick’s results here and Simply Good Foods’s results here.

Investors in the consumer staples segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Cal-Maine is up 4.9% during the same time and is heading into earnings with an average analyst price target of $105.33 (compared to the current share price of $106.50).

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