Cal-Maine Foods Inc.
09/30/2026 | Press release | Distributed by Public on 09/30/2026 04:07
Business/Financial Results (Form 8-K)
Cal-Maine Foods Reports First Quarter Fiscal 2027 Results
RIDGELAND,Miss., September30, 2026 - Cal-Maine Foods, Inc. (Nasdaq:CALM) ("Cal-Maine Foods,"
"we," "us," "our" or the "company"),the largest egg companyin the United States and a leadingplayer in
theegg-basedfoodindustry,todayreportedresultsforitsfirstquarterended August29,2026.Unless
otherwise indicated,all comparisonsare to the comparableperiod of fiscal2026.
Financial Highlights
(in thousands except per share amounts and percentages)
First Quarter
2027
2026
$ Change
% Change
Net sales
$
539,607
$
922,602
$
(382,995)
(41.5)
%
Gross profit
$
403
$
311,314
$
(310,911)
(99.9)
%
Operatingincome(loss)
$
(82,165)
$
249,184
$
(331,349)
(133.0)
%
Net income(loss) attributableto Cal-MaineFoods, Inc.
$
(58,615)
$
199,340
$
(257,955)
(129.4)
%
Income (loss)per share- diluted
$
(1.26)
$
4.12
$
(5.38)
(130.6)
%
Strategic Execution Highlights
●
Continuedfocus onsalesdiversificationand mixshift,expectedto strengthenearningsdurabilityand
predictabilityover time
o
In the firstquarter of fiscal2027:
◾
Prepared Foods accounted for 11.7% of net sales compared to 7.8%
◾
Combined,SpecialtyShellEggsandPreparedFoodsincreasedto54.1%ofnetsales
compared to 37.1%
●
Acquiredadditional
Eggland'sBest®
franchiseterritoryinNortheast,expandingthecompany's
distributionfootprintandincreasingitsSpecialtyShellEggscategorypenetrationacrossoneofthe
nation'slargest, highest-incomeconsumer markets
●
Continuedprogresson previouslyannounced projectstoincreaseefficiencyand productioncapacity,
which areexpected to increase PreparedFoods productioncapacity more than 60%by the firsthalf of
fiscal 2028, compared to fiscal 2026 year-end
Commentary
Sherman Miller,president and chiefexecutive officerof Cal-MaineFoods, said,"Our first-quarterresults
reflect both the current point inthe conventional shell egg cycle andthe continued evolution of Cal-Maine
Foods' earningsmodel.ConventionalShell Eggpricingremainsunderpressurefrom anindustrysupply
imbalance, while underlying demand remains healthy.At the same time, Specialty Shell Eggs andPrepared
Foodsnowrepresentapproximately54%ofournetsales, demonstratingtheprogresswehavemadein
broadening ourbusiness. Weremainfocused on ourfoundationalConventional ShellEgg businesswhile
scaling Specialtyand Prepared Foodsand convertingthe investments wehave madeinto profitable growth."
Segment Results Summary
Segment NetSales
(in thousands except percentages)
First Quarter
2027
2026
Volume
Change
Avg.
Price
Change
Conventional Shell Eggs
$
201,683
$
498,433
(0.7)
%
(59.3)
%
Specialty Shell Eggs
236,932
275,590
(3.8)
%
(10.7)
%
PreparedFoods
62,995
72,368
(19.3)
%
7.9
%
Total Reportable Segments
$
501,610
$
846,391
OperatingIncome (Loss)
(in thousands except percentages)
First Quarter
OperatingMargin
2027
2026
2027
2026
Conventional Shell Eggs
$
(71,045)
$
168,236
(35.2)
%
33.8
%
Specialty Shell Eggs
14,937
64,196
6.3
%
23.3
%
PreparedFoods
7,842
13,221
12.4
%
18.3
%
Total Reportable Segments
$
(48,266)
$
245,653
(9.6)
%
29.0
%
Other - SegmentIncome (Loss)
(8,374)
12,219
N/A
N/A
UnallocatedCorporateSG&A
(24,609)
(16,072)
N/A
N/A
Gain on InvoluntaryConversion
-
7,488
N/A
N/A
Loss onDisposal of FixedAssets
(916)
(104)
N/A
N/A
OperatingIncome (Loss)
$
(82,165)
$
249,184
(15.2)
%
27.0
%
N/A - Not Applicable
Conventional Shell Eggs
First-quarterperformancereflectedanabundantlysuppliedeggmarketfollowingindustrylayerflock
repopulation duringfiscal2026. Theincreaseinegg supply,togetherwiththefirst quarter'shistorically
softer seasonal pricing, resultedin substantially lower conventional shellegg prices compared with theprior-
year period.
Conventional ShellEggs salesdecreased 59.5%,primarilyreflecting a59.3%decrease inaverage selling
priceperdozen,whilevolumeremainedrelativelyflat.Theeffectoflowermarketpriceswaspartially
mitigatedby hybridand cost-pluspricingarrangementswithcertaincustomers.Segmentlosswas $71.0
million, comparedwith segment incomeof $168.2 millionin the prior-yearperiod, as lowerpricing more
than offset lower outside egg purchase costs.
Specialty Shell Eggs
Specialty Shell Eggs sales decreased 14.0%, reflecting a 10.7% decrease in average selling price per dozen
and a 3.8%decrease in volume.The prior-year period benefited fromatypical pricing relationships between
conventionaland specialtyshelleggsthattemporarilyaccelerateddemandforcertainspecialtyshellegg
categories.During thecurrentquarter, lowervolumesreflecteda moretypicaldemand relationshipacross
the conventional and specialty shell egg categories.
Segment incomewas $14.9 million,comparedwith $64.2 millionin theprior-year period,primarilydue to
lower selling prices and higher cost per dozen resulting fromincreased feed and production costs, partially
offset by lowerselling, generaland administrativeexpense.
Prepared Foods
PreparedFoodssalesdecreased13.0%reflectinga19.3%decreaseinpoundssold,primarilyrelatedto
temporary production reductions during capacityexpansion and network optimization activities, whichwas
partially offsetby a7.9% increasein averageselling priceperpound. Segment incomewas $7.8million,
compared with$13.2 millioninthe prior-yearperiod. Wecontinue toadvanceour previouslyannounced
production capacity and optimization projects to support future growth and improved operating efficiency.
Outlook
Mr. Millercommented, "Looking ahead, thereare two important timingdynamics: whenthe conventional
shellegg marketbeginstorebalanceand whenour investmentsinPrepared Foodstranslate intogreater
earnings contribution. We cannot precisely predict the first, but we have considerably greater visibility into
the second.Current earnings reflecta difficultpoint inthe commoditycycle whilewe are simultaneously
investingahead ofgrowth, andwedo notbelieve thatfully reflectsthethrough-cycle earningspower we
arebuilding.Withastrongbalancesheet,morethan60%plannedgrowthinPreparedFoodscapacity
throughthe firsthalfof fiscal2028, andcontinuedopportunitiesacrossSpecialtyShell Eggs,we arewell
positionedto invest throughthe cycleand build a morediversifiedand durable earningsprofile."
Share Repurchase Update
Cal-MaineFoodsrepurchased66,601sharesofitscommonstockunderthecompany'scurrentshare
repurchaseauthorizationduring thefirstquarterof fiscal2027 fora totalof$5.0 million.The repurchase
program permits thecompany to repurchaseup to$500 million, of which$315.7 million remained available
as of the end of the first quarterof fiscal 2027. Subsequent to the endof the first quarter, Cal-Maine Foods
repurchased 204,888 shares under the repurchase program for $14.9 million.
Dividend Payment
Pursuant tothecompany'svariabledividend policy,Cal-MaineFoodswill notpay acashdividend with
respect to the first quarterof fiscal 2027. The companywill not pay adividend for a subsequent profitable
quarteruntilitisprofitableona cumulativebasiscomputedfromthedateofthelastquarterinwhich a
dividend was paid.As of August29, 2026, thecumulative loss tobe recovered before payment ofany future
dividend under the variable dividend policy was $94.5 million.
Conference Call and Webcast
Management will hosta conference call andwebcast at 9:00a.m. ET on September30, 2026. Participants
canaccessthelivewebcastontheInvestorRelationspageoftheCal-MaineFoodswebsiteat
https://www.calmainefoods.com/events-presentations
.To joinby telephone,participantscan registerhere.
Upon registration,participantswill receive a confirmationemail with detailedinstructions,including a dial-
innumber,uniquepasscode,andregistrantID. Areplayofthewebcastwillbeavailablefor30days
followingthecallontheInvestorRelationspageoftheCal-MaineFoodswebsiteat
https://www.calmainefoods.com/events-presentations.
About Cal-Maine Foods
Cal-Maine Foods, Inc.(Nasdaq: CALM) isthe largestegg companyin theUnited States anda leadingplayer
intheegg-basedfoodindustry.Withastrongnationalfootprint,Cal-MaineFoodsprovidesnutritious,
affordable, and sustainable protein to millions of households every day.
The company'sportfolio spansthe full eggvalue ladder-fromconventionalto specialty, includingcage-
free,nutritionallyenhanced,organic,brown,pasture-raised,andfree-rangeeggs-servingretail,
foodservice andindustrial customers nationwide.Cal-Maine Foods alsoparticipates inthe growingprepared
foodssector,withofferingssuchaspre-cookedegg patties,omelets, foldedand scrambledegg formats,
hard-cooked eggs, pancakes, waffles, and specialtywraps. Its branded portfolio includes
Eggland's Best®
,
LandO'Lakes®
,
FarmhouseEggs®
,
4Grain®
,
Sunups®
,
SunnyMeadow®
,
MeadowCreekFoods®
,
Van's®
, and
Crepini®
.
Headquartered in Ridgeland,Mississippi,Cal-Maine'sstrategy combinesscale, operationalexcellence, and
financialdisciplinewith acommitmentto innovationand sustainability,to enablethe companyto deliver
trustednutrition,enduring partnerships,and long-termvalue for itsstakeholders.
Cal-Maine Foods Inc. published this content on September 30, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on September 30, 2026 at 10:08 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]