Will This Top-Performing Food Stock Jump After Earnings Are Reported on Tuesday?
Cal-Maine Foods (NASDAQ: CALM), the country's largest shell egg producer and distributor, is slated to report its fourth-quarter and full-year results for fiscal 2022 after the market close on Tuesday, July 19.
Investors will probably be approaching the company's report with optimism. Egg prices have risen sharply this year because of the inflationary pressures affecting most products and a severe outbreak of highly pathogenic avian influenza ("bird flu") in the United States, which has decreased the country's number of table egg layer hens. And demand should remain at least relatively solid because most consumers don't change their consumption habits much when egg prices rise.
In 2022, Cal-Maine stock has returned 43.7% through July 15, while the S&P 500's return is 18.3% in the red. That return makes it the year's second-best performer among 160 small-cap or larger stocks (stocks with market caps of at least $300 million) in the consumer staple sector. (Grocery Outlet Holding stock is the top performer in this category, as it's up 60.9% so far this year.)
Source Fool.com
