Cal-Maine Foods Reports 718% Surge in Profit Amidst Soaring Egg Prices
TL;DR
Cal-Maine Foods, the country's top egg producer, reported a 718% increase in quarterly profit, reaching $323 million due to higher average selling prices and favorable demand caused by bird flu. Some call for windfall profits taxes during such unusual external forces. Consumers pay the price as companies ride market trends higher without doing anything special or innovative to enhance shareholder value.
Topics:business#business#cal-maine-foods#egg-producer#market-trends#profit-increase#windfall-profits-tax
- Egg producer reports 718% increase in profit KTLA Los Angeles
- High egg prices send profits at largest US producer soaring more than 700% CNN
- Country’s Largest Egg Producer Saw Profits Surge 718% Amid Shortage Forbes
- Surging egg prices send Cal-Maine's profit, shares higher Reuters
- Cal-Maine Foods profit jumps eightfold, revenue more than doubles as egg prices rise MarketWatch
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