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Cal-Maine Foods fiscal Q3 profit climbs 41.4% YOY

Cal-Maine Foods Inc. said its normalized net income for the fiscal third quarter ended Feb. 28 came to 99 cents per share, compared with the S&P Capital IQ consensus estimate of $1.13 per share.

EPS increased 41.0% year over year from 70 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $48.1 million, an increase of 41.4% from $34.0 million in the third quarter ended March 1, 2014.

The normalized profit margin climbed to 11.0% from 8.6% in the year-earlier period.

Total revenue climbed 10.6% year over year to $437.6 million from $395.5 million, and total operating expenses rose on an annual basis to $365.5 million from $348.9 million.

Reported net income rose 18.3% year over year to $50.9 million, or $1.05 per share, from $43.0 million, or 89 cents per share.