Yahoo Finance Cal-Maine (CALM) To Report Earnings Tomorrow: Here Is What To Expect
Egg company Cal-Maine Foods (NASDAQ:CALM) will be reporting earnings tomorrow afternoon. Here's what to look for.
Cal-Maine beat analysts' revenue expectations by 1.5% last quarter, reporting revenues of $703.1 million, down 29.5% year on year. It was a weaker quarter for the company, with 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 decline 5.3% year on year to $652.3 million, a reversal from the 16.1% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 1 upward revisions over the last 30 days. Cal-Maine has missed Wall Street's revenue estimates twice 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. WD-40 delivered year-on-year revenue growth of 9.4%, beating analysts' expectations by 6.3%, and Constellation Brands reported revenues up 5.8%, in line with consensus estimates. WD-40 traded up 4% following the results while Constellation Brands's stock price was unchanged.
Read our full analysis of WD-40's results here and Constellation Brands's results here.
Investors in the consumer staples segment have had steady hands going into earnings, with share prices flat over the last month. Cal-Maine is up 9.5% during the same time and is heading into earnings with an average analyst price target of $56 (compared to the current share price of $66.68).
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