Cal-Maine Foods (CALM) reported fiscal Q3 net income late Tuesday of $10.38 per diluted share, up $3 a year earlier.

Three analysts polled by FactSet expected $10.72.

Net sales in the three months ended March 1 rose to $1.42 billion from $703.1 million a year earlier.

Two analysts expected $1.43 billion.

Cal-Maine, the biggest US egg producer, agreed to acquire Burlington, Wisconsin-based Echo Lake Foods for $258 million.

Echo Lake Foods, which had $240 million in 2024 revenue, produces, packages, markets and distributes ready-to-eat egg products and breakfast foods, Cal-Maine said.

Cal-Maine boosted its quarterly dividend to $3.46 a share from $1.489. The dividend is payable May 15 to investors of record April 30.

Shares of the company fell 3.2% in recent after-hours trading.