Cal-Maine's Q2 Net Falls, Hit by Inputs
Cal-Maine Foods released fiscal Q2 2013 results that showed a year-over-year increase in revenue but a 39% drop in net profit, the company detailed in an official press release. For the quarter, top line came in at just under $329 million, or 13% higher than the same period the previous year.
Net, however, fell significantly, from Q2 2012's $23 million to $14 million ($0.60 per share). The company attributed the drop to higher costs for its key inputs, particularly corn and soybean meal, which make the feed for the animals that produce the company's eggs.
The company said it expects such input prices to remain "high and volatile" throughout its fiscal 2013.
The article Cal-Maine's Q2 Net Falls, Hit by Inputs originally appeared on Fool.com.Eric Volkman and The Motley Fool have no positions in Cal-Maine Foods. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.