Cal-Maine Foods (NASDAQ:CALM), the largest producer and distributor of fresh shell eggs in the U.S., has released its financial outcomes for the first quarter of fiscal 2025, revealing significant growth.
The company reported a substantial increase in net sales to $785.9 million, up from $459.3 million in the corresponding period last year.
The volume of shell eggs sold also saw a marked increase.
During the first quarter, Cal-Maine sold 310 million dozens of shell eggs, compared to 273.1 million dozens during the first quarter of fiscal 2024.
Of these, conventional egg sales rose to 200 million dozens, marking a 10.2% increase from 181.5 million dozens in the previous year.
Specialty eggs, reflecting growing consumer demand, recorded a 20.1% increase with sales of 110 million dozens.
During the period under review, net income increased to $150 million, or $3.06 per diluted share, compared to just $926,000, or $0.02 per diluted share, in the same period last year.
Further enhancing shareholder value, Cal-Maine Foods announced a forthcoming cash dividend of approximately $1.02 per share for the fourth quarter of fiscal 2024, to be distributed to holders of its Common Stock and Class A Common Stock.