Cal-Maine Foods Inc. CALM, -0.56% swung to a profit of $71.8 million in its fourth-quarter as its net average selling price of eggs increased 75%, but sales volume fell.
Earnings of $1.48 a share were a penny higher than analysts were expecting, according to a FactSet poll.
Cal-Maine reported revenue of $443 million during the quarter compared to $274 million in the year-ago period. Its net average selling price for a dozen eggs was $1.69, compared to 97 cents a year earlier. The company reported 252 million dozens sold, down 7.7% from a year earlier.
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