Jul. 22 at 3:00 PM
$CALM Earnings are out of the way. The transition to higher margin eggs and to food products can't come soon enough.
"... as market conditions improve..." Sounds like they won't be profitable unless egg prices go up. So as egg prices go so goes CALM's stock price.
"Outlook
Mr. Miller commented, "Looking ahead, we believe we are increasingly well positioned as market conditions improve, particularly as we move beyond our first quarter. During the first five weeks of our first quarter, Urner Barry reported that market prices averaged just
$0.72, approximately 54% below the comparable period in our fourth quarter. More recently, Urner Barry has reported that pricing has strengthened, increasing by more than 90% in only a few weeks. Early indications point to improving supply-demand balance, supporting a more constructive egg pricing environment heading into the fall, which is historically a seasonally stronger period."
