Cal-Maine Foods Reports Third Quarter Fiscal 2024
Results
Page 3
April 2, 2024
-MORE-
HPAI & Table Egg Supply Outlook
Outbreaks of HPAI have
continued to occur in
U.S. poultry flocks. From
November 2023 through
January
of
2024,
the
USDA
division
of
Animal
and
Plant
Health
Inspection
Service
reported
that
approximately 15.7 million commercial
layer hens and
pullets have been
depopulated as a
result of HPAI
outbreaks.
During the third quarter of fiscal 2024, Cal-Maine Foods experienced an HPAI outbreak within its
facilities in
Kansas, resulting
in depopulation
of approximately
1.5 million
laying hens
and 240,000
pullets.
Following the end of the third quarter, on
April 1, 2024, one of the Company’s facilities
located in Parmer
County, Texas, tested positive
for HPAI, resulting in
depopulation of approximately
1.6 million laying
hens
and 337,000 pullets, or approximately 3.6% of the Company’s total flock as of March 2, 2024.
Production
at the facility has temporarily
ceased as the Company follows
the protocols prescribed by the
USDA. Cal-
Maine Foods is working to secure production from other facilities to minimize disruption to its customers.
The Company remains
dedicated to robust
biosecurity programs across its
locations; however, no
farm is
immune from
HPAI. HPAI
is still
present in
the wild
bird population
and the
extent of
possible
future outbreaks,
with heightened
risk during
the migration
seasons, cannot
be predicted.
According to
the U.S. Centers for
Disease Control and Prevention, the
human health risk to
the U.S. public from
HPAI
viruses is considered to be
low.
Also, according to the USDA, HPAI
cannot be transmitted through safely
handled and properly
cooked eggs.
There is no
known risk related
to HPAI associated
with eggs that
are
currently in the market and no eggs have been recalled.
Looking Ahead
Miller added,
“We are
proud of
our ability
to manage
our operations
effectively and
deliver favorable
results to
date for
fiscal 2024.
Like other
producers, we
have navigated
significant challenges
related to
HPAI,
and
we
remain
diligent
in
our
efforts
to
mitigate
any
future
risks.
We
commend
our
team
of
managers and
employees who
have worked
through these
challenges with
minimal disruption
to our
overall
production
and
distribution.
Importantly,
we
remain
committed
to
meeting
the
needs
of
our
valued
customers
with
a
diverse
offering
of
quality
products.
Demand
for
shell
eggs
has
remained
strong
as
consumers look for an affordable
and nutritious protein option. Across our
operations, we are focused on
meeting this
demand, as
we
continue to
identify opportunities
to
extend our
market reach.
We
are also
making significant
investments in
our operations
to drive
innovation and
more efficient
production and
support our ability to add capacity, including cage-free opportunities. We have a strong balance sheet that
provides us with the
flexibility to fund our
growth initiatives, including potential acquisitions. We
believe
fiscal 2024
will be
another successful
year for
the Company,
and we
look forward
to the
opportunities ahead
for Cal-Maine Foods.”
Dividend Payment
For
the
third quarter
of fiscal
2024,
Cal-Maine Foods
will
pay
a
cash
dividend of
approximately
$1.00 per
share to
holders of
its common
and Class
A common
stock. Pursuant
to Cal-Maine
Foods’ variable
dividend
policy,
for
each
quarter
in
which
the
Company
reports
net
income,
the
Company
pays
a
cash
dividend to
shareholders in an
amount equal
to one-third
of such
quarterly income.
Following a
quarter
for which the
Company does not
report net income,
the Company will
not pay a
dividend with
respect to
that quarter or
for a subsequent
profitable quarter until
the Company is
profitable on
a cumulative basis
computed from
the date
of the
most recent
quarter for
which a
dividend was
paid. The
amount paid
per
share will vary based on the number
of outstanding shares on the record date. The
dividend is payable on
May 16, 2024, to holders of record on May 1, 2024.
About Cal-Maine Foods
Cal-Maine Foods, Inc.
is primarily engaged
in the production,
grading, packaging, marketing
and
distribution
of
fresh
shell
eggs,
including
conventional,
cage-free,
organic,
brown,
free-range,
pasture-
raised and nutritionally enhanced eggs. The Company, which is headquartered in Ridgeland, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its
エドガーで原本を確認する
