CALM - Cal-Maine Foods assigns $82M capital for expansion of cage-free egg production

Cal-Maine Foods (NASDAQ:CALM) has proposed $82M capital projects to expand its cage-free egg production capabilities. The company said this capital will be funded through combination of available cash on hand, investments and operating cash flow. The expansion will includes two locations: Delta, Utah location where 4 new cage-free layer houses and 2 pullet house conversions with capacity for approximately 810,000 cage-free layer hens and project completion expected by fall 2023; and Guthrie, Kentucky that will see 9 cage cage-free layer house conversions and 2 pullet house conversions with capacity for approximately 953,000, and project completion by spring 2025. Stock is up 1% in premarket trading. It comes right after the company's earnings report released on Tuesday.

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Cal-Maine Foods assigns $82M capital for expansion of cage-free egg production