Mississippi-based Cal-Maine Foods shares on Monday fell more than 2 percent, after it missed expectations for its fiscal first-quarter results.
The egg producer reported a 64 cents a share net loss, above the 33 cents a share loss analysts had predicted. Company revenue fell to $239.8 million compared to analysts’ estimates of $275 million.
Cal-Maine added it would not pay a dividend for the quarter.
“As the supply of shell eggs moved higher after the disruptions created by the Avian Influenza outbreak in the spring of 2015, market prices declined,” Cal-Maine Foods CEO Dolph Baker said in a statement.
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