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Cal-Maine Foods (CALM) Q2 FY2024 earnings: revenue $523 million, down 34.7% on the year

Cal-Maine Foods Inc. (CALM) reported revenue of $523 million for Q2 FY2024, the quarter ended 2 December 2023, down 34.7% on the same quarter a year earlier. Net income was $17 million, down 91.4% on the year, and diluted earnings per share $0.35. The figures are the company's own, from the 10-Q it filed with the SEC on 3 January 2024.

Revenue$523 milliondown 34.7%
Net income$17 milliondown 91.4%
Diluted EPS$0.35
QuarterQ2 FY2024ended 2 December 2023

The quarter, against the one before and a year earlier

LineQ2 FY2024Quarter beforeA year earlierChange on the year
Revenue523n/an/an/a
Cost of revenue432n/an/an/a
Gross profit91.1n/an/an/a
Gross margin17.4%n/an/a
Selling, general and administrative76.6n/an/an/a
Operating income14.2n/an/an/a
Operating margin2.7%n/an/a
Pre-tax income22.1n/an/an/a
Income tax5.5n/an/an/a
Effective tax rate25.0%n/an/a
Net income17.0n/an/an/a
Net margin3.3%n/an/a
Diluted EPS$0.35n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ2 FY2024Quarter beforeA year earlierChange on the year
Operating cash flow50.0n/an/an/a
Capital expenditure39.1n/an/an/a
Free cash flow10.9n/an/an/a
Free cash flow margin2.1%n/an/a
Cash from investing-48.1n/an/an/a
Cash from financing-0.4n/an/an/a
Depreciation and amortisation20.1n/an/an/a
Share-based compensation1.1n/an/an/a
Dividends paid0.3n/an/an/a
Dividend per share$0.12n/an/an/a
Diluted shares, weighted49mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ2 FY2024Quarter beforeA year earlierChange on the year
Shareholders' equity1,626n/an/an/a
Non-controlling interest-2.4n/an/an/a
Debt0.0n/an/an/a
Other liabilities343n/an/an/a
Total liabilities and equity1,967n/an/an/a
Fixed assets815n/an/an/a
Goodwill45.8n/an/an/a
Intangible assets17.1n/an/an/a
Investments208n/an/an/a
Cash and equivalents362n/an/an/a
Receivables165n/an/an/a
Inventory287n/an/an/a
Other assets65.8n/an/an/a
Total assets1,967n/an/an/a

Questions

What was Cal-Maine Foods' revenue in Q2 FY2024?

Cal-Maine Foods (CALM) reported revenue of $523 million for Q2 FY2024, the quarter ended 2 December 2023, down 34.7% on the same quarter a year earlier.

How much did Cal-Maine Foods earn in Q2 FY2024?

Net income for Q2 FY2024 was $17 million, down 91.4% on the year, and diluted earnings per share $0.35.

When did Cal-Maine Foods report Q2 FY2024 results?

Cal-Maine Foods filed its 10-Q for the quarter ended 2 December 2023 with the SEC on 3 January 2024.

Quarterly results, the last 12 quarters

Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027
Revenue5237036417869551,4181,104923769667553540
Cost of revenue432485454539599702572611562548519539
Gross profit91.121918624735671653231120711934.10.4
Gross margin17%31%29%31%37%51%48%34%27%18%6%0%
SG&A76.666.057.861.977.680.094.969.582.983.393.681.7
Operating income14.216314218727863643624912435.9-58.8-82.2
Operating margin3%23%22%24%29%45%39%27%16%5%-11%-15%
Pre-tax income22.118515219828966345326313658.2-46.5-74.2
Tax rate25%21%26%24%24%23%25%24%24%12%n/an/a
Net income17.014711315021950934219910350.5-35.9-58.6
Net margin3%21%18%19%23%36%31%22%13%8%-6%-11%
Diluted EPS$0.35$3.00$2.32$3.06$4.47$10.38$7.04$4.12$2.13$1.06-$0.68-$1.26
Operating cash flow50.016421411712357241327994.81042.8-101
Capital expenditure39.130.251.135.829.849.845.945.346.831.627.526.6
Free cash flow10.913416381.792.952236723347.972.0-24.7-128
Dividends paid0.35.748.937.850.073.016911466.434.316.80.0
Shares outstandingn/an/an/an/an/an/a47m47m48m47m47m47m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 2 December 2023, filed 3 January 2024, accession 0001562762-24-000004: the filing on EDGAR. All of Cal-Maine Foods Inc.'s filings: EDGAR company page.

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