Profits for Cal-Maine Foods Inc. fell 41% to $16.1M in the company’s second fiscal quarter from $27.2M in the same period a year earlier, according to the Wall Street Journal. The owner of Eggland’s Best and Farmhouse brought in $0.67 a share in the quarter ending Nov. 28, down from $1.14 a share a year before.
Revenue, gross margin, and average selling price all declined year-to-year, while feed prices dropped. Revenue fell 3% to $229.2M and gross margin dropped from 24.3% to 20.4%. At $1.06 per dozen, the net average selling price was 13% lower than the same period a year ago, but it was an improvement from the first quarter of this fiscal year, according to the newspaper.