Cal-Maine Foods (NASDAQ:CALM), the premier producer and distributor of fresh shell eggs in the United States, has announced its achievements for the third quarter of fiscal 2024.

Despite experiencing a drop in average selling prices compared to the previous year, the company reported robust quarterly net sales of $703.1 million, alongside a significant net income of $146.4 million, or $3.01 per basic common share.

Additionally, Cal-Maine Foods highlighted a record quarterly sales volume in both total dozens sold and specialty dozens sold, emphasizing the company's ability to maintain strong demand and a favorable product mix against the backdrop of market challenges such as the highly pathogenic avian influenza (HPAI).

The report also shone a light on Cal-Maine Foods' strategic growth efforts, notably the acquisition and seamless integration of Fassio Egg Farms' assets, enhancing the company's already impressive portfolio.

While the report acknowledged a slight dip in sales revenue for the quarter compared to the same timeframe in the previous year, attributed to lower egg prices, it also pointed to an increase in overall sales volume.

This underscores Cal-Maine Foods' adaptability and strategic prowess in navigating market fluctuations.

In line with its strong performance, Cal-Maine Foods has announced a generous cash dividend of $48.9 million, or $1 per share, payable on May 16, 2024, to shareholders of record as of May 1, 2024.