Cal-Maine Foods (CALM), a Jackson, Missouri-headquartered producer and distributor of eggs, posted a fiscal first-quarter loss that was narrower than a year earlier but missed the expectations of Wall Street analysts on Monday.

The company’s net loss for the quarter ended September 2 was $16.0 million, or $0.33 per share, compared with a net loss of $30.9 million, or $0.64 per share, in the year-earlier period, the company said in a statement. Analysts polled by Capital IQ had expected a net loss of $0.22 per share.

Net sales rose to $262.8 million from $239.8 million in the same period last year. Analysts had predicted revenue of $265.5 million, according to a Capital IQ survey.

“While we are disappointed to report a loss for the quarter, we are encouraged by the year-over-year improvement in our performance,” Dolph Baker, Cal-Maine’s chief executive, said. “Our results reflect continued solid retail demand and a modest increase in both volumes and prices compared with the first quarter of fiscal 2017.”

Market prices for conventional shell eggs moved higher over the summer, and the company’s average customer selling prices for all eggs was up 6.8% in the first quarter compared with a year earlier, Baker added.


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