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The profit increased drastically. Profit is the part they keep after expenses. That it increased so drastically is price gouging. And such drastic price going
by ScoobleDoodle 4y ago
The profit increased drastically. Profit is the part they keep after expenses. That it increased so drastically is price gouging. And such drastic price going should only be possible with collusion whether explicit or tacit due to too few competitors.
> Cal-Maine’s gross profit jumped 10-fold from one 26-week period in 2021 to the same period in 2022, according to the company’s most recent quarterly financial statement. For the 26-week fiscal period ending in November 2021, gross profits were $50.4 million. In 2022 for the same period, gross profits were $535.3 million.
- deleted 4y ago[deleted]
- Alupis 4y agoYou're citing Gross Profit, not Net Profit - which is being used here by the article deliberately to emphasize their point. The net shows an increase as well, but not totally out of line with the increase in sales and costs, even when we look back several years.
- BryanRamirez 4y agoA simple google search for cal-maine profit margins produces a table that includes year over year change in many metrics. For example Year over year increase in net profit margins: Feb 2022: Y/Y net profit margin is +119.63% May 2022: Y/Y net profit margin is +1633.06% Aug 2022: Y/Y net profit margin is +442.88% Nov 2022: Y/Y net profit margin is +7890.32%
- deleted 4y ago[deleted]