CALM Reports Third Quarter Fiscal 2022 Results
Page 3
March 29, 2022
-MORE-
differentiated
product
mix
and
proven
operating
model
continue
to
support
our
ability
to
meet
changing
customer
demand
and
extend
our
market
reach.
Importantly,
we
have
the
financial
strength
to
support
our
organic
growth
and
expansion
opportunities
and
consider
potential
acquisitions
that
are
accretive
to
our
business,”
added
Baker.
For
the
third
quarter
of
fiscal
2022,
Cal-Maine
Foods
will
pay
a
cash
dividend
of
approximately
$o.125
cents
per
share
to
holders
of
its
common
and
Class
A
common
stock.
Pursuant
to
Cal-Maine
Foods’
variable
dividend
policy,
for
each
quarter
in
which
the
Company
reports
net
income,
the
Company
pays
a
cash
dividend
to
shareholders
in
an
amount
equal
to
one-third
of
such
quarterly
income.
Following
a
quarter
for
which
the
Company
does
not
report
net
income,
the
Company
will
not
pay
a
dividend
with
respect
to
that
quarter
or
for
a
subsequent
profitable
quarter
until
the
Company
is
profitable
on
a
cumulative
basis
computed
from
the
date
of
the
most
recent
quarter
for
which
a
dividend
was
paid.
The
amount
paid
per
share
will
vary
based
on
the
number
of
outstanding
shares
on
the
record
date.
The
dividend
is
payable
on
May
12,
2022,
to
holders
of
record
on
April
27,
2022.
Select
operating
statistics
for
the
third
quarter
of
fiscal
2022
compared
with
the
prior-year
period
13 Weeks Ended
39 Weeks Ended
February 26,
2022
February 27,
2021
February 26,
2022
February 27,
2021
Dozen Eggs Sold (000)
287,651
279,715
811,821
817,360
Dozen Eggs Produced (000)
264,433
248,130
757,677
731,205
% Specialty Sales (dozen)
33.1
%
27.4
%
30.0
%
26.6
%
% Specialty Sales (dollars)
39.4
%
41.5
%
40.2
%
42.0
%
Net Average Selling Price (per dozen)
$
1.612
$
1.246
$
1.414
$
1.185
Net Average Selling Price Specialty Eggs (per dozen)
$
1.923
$
1.895
$
1.900
$
1.876
Feed Cost (per dozen)
$
0.562
$
0.467
$
0.546
$
0.422
Cal-Maine
Foods,
Inc.
is
primarily
engaged
in
the
production,
grading,
packing,
marketing
and
distribution
of
fresh
shell
eggs,
including
conventional,
cage-free,
organic,
free-range,
pasture-raised
and
nutritionally
enhanced
eggs.
The
Company,
which
is
headquartered
in
Ridgeland,
Mississippi,
is
the
largest
producer
and
distributor
of
fresh
shell
eggs
in
the
United
States
and
sells
the
majority
of
its
shell
eggs
in
states
across
the
southwestern,
southeastern,
mid-western
and
mid-Atlantic
regions
of
the
United
Statements
contained
in
this
press
release
that
are
not
historical
facts
are
forward-looking
statements as that term is defined in the Private Securities Litigation
Reform Act of 1995. The forward-
looking
statements
are
based
on
management’s
current
intent,
belief,
expectations,
estimates
and
projections regarding
our company
and our
industry. These
statements are
not guarantees
of future
performance and involve
risks, uncertainties, assumptions
and other factors
that are difficult
to predict
and may
be beyond
our control.
The factors
that could
cause actual
results to
differ materially
from
those projected in the forward-looking
statements include, among others, (i)
the risk factors set forth
in
the Company’s SEC filings (including its
Annual Reports on Form 10-K, Quarterly
Reports on Form 10-
Q
and
Current
Reports
on
Form
8-K),
(ii)
the
risks
and
hazards
inherent
in
the
shell
egg
business
(including disease,
pests, weather
conditions and
potential for
recall), (iii) changes
in the demand
for
and market prices of shell
eggs and feed costs, (iv)
our ability to predict and
meet demand for cage-free
and other specialty eggs, (v) risks, changes or obligations that
could result from our future acquisition
of new
flocks
or businesses
and risks
or changes
that may
cause conditions
to completing
a pending
acquisition
not
to
be
met,
(vi)
risks
relating
to
the
evolving
COVID-19
pandemic,
including
without
limitation
increased
costs,
rising
inflation
and
interest
rates
and
(vii)
adverse
results
in
pending
litigation
matters.
SEC
filings
may
be
obtained
from
the
SEC
or
the
Company’s
website
,
www.calmainefoods.com.
Readers
are
cautioned
not
to
place
undue
reliance
on
forward-looking
statements
because,
while
we
believe
the
assumptions
on
which
the
forward-looking
statements
are
