Cal-Maine Foods, Inc. Provides Update on Operations Affected by Hurricane Ian

Rhea-AI Summary

Cal-Maine Foods, Inc. (NASDAQ: CALM) provided an update on its facilities in Florida following Hurricane Ian. The company reported only minor physical damage and light flooding at some farms and production facilities. Power outages are affecting operations, which are being managed with backup generators. Importantly, Cal-Maine does not expect any significant loss in egg production. The company is closely monitoring the situation and prioritizing employee safety and animal welfare during this challenging time.

Positive

• Minor physical damage and light flooding reported at facilities.
• No significant loss in egg production expected.

Negative

• Some facilities are currently operating on backup generators due to power loss.

RIDGELAND, Miss.--(BUSINESS WIRE)-- Cal-Maine Foods, Inc. (NASDAQ: CALM) today provided an update on the status of the Company’s facilities located in Florida following landfall of Hurricane Ian and the related flooding in the region. The Company reports that some of its farms and production facilities have sustained only minor physical damage and light flooding, and several locations have lost power and are currently operating on back-up generators. At this time, the Company does not anticipate any material loss in egg production. The Company is closely monitoring the storm situation and will provide additional information if there is a significant impact on its operations.

Dolph Baker, chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “We are thankful that we have not had any reports of injuries to any of our employees as a result of this devastating hurricane. We have experience managing through catastrophic weather events and our top priority has been and will continue to be the safety of our employees, and the health and wellbeing of the animals under our care. We also want to acknowledge and commend our dedicated employees who worked tirelessly to prepare for the storm and will continue their efforts to fully restore normal operations. Hurricane Ian is a storm of historic proportions, and we are deeply saddened by the extreme devastation in Florida. We are grateful for the support from local authorities and the heroic work of first responders who are dealing with the aftermath of the storm as conditions allow.”

Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing, marketing and sale of fresh shell eggs, including conventional, cage-free, organic, pasture-raised, free-range 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 shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220929005880/en/

Dolph Baker, Chairman and CEO

Max P. Bowman, Vice President and CFO

(601) 948-6813

Source: Cal-Maine Foods, Inc.

FAQ

What impact did Hurricane Ian have on Cal-Maine Foods' facilities?

Cal-Maine Foods reported only minor damage and light flooding at its Florida facilities following Hurricane Ian.

Is Cal-Maine Foods expecting a loss in egg production due to Hurricane Ian?

No, Cal-Maine Foods does not anticipate any material loss in egg production as a result of Hurricane Ian.

How is Cal-Maine Foods managing power outages at its facilities?

Cal-Maine Foods is utilizing backup generators to operate its facilities during power outages caused by Hurricane Ian.

What measures are being taken by Cal-Maine Foods for employee safety after Hurricane Ian?

Cal-Maine Foods has prioritized the safety of its employees and is monitoring the storm's impact closely.