Cal-Maine Foods Inc

Latest Results (05.04.2026):

Cal‑Maine Foods, Inc.’s results for the third quarter of fiscal 2026 show a large year‑over‑year decline in sales and profitability driven by much lower wholesale egg prices, but continued progress in portfolio diversification (specialty eggs and prepared foods) helped sustain results. Q3 net sales fell to $666.95 million (down 53.0%), while specialty and prepared foods grew as a share of the business and the company completed a post‑quarter asset acquisition to further integrate its value chain.

Quarter overview

Q3 FY2026 net sales: $666.95M, down 53.0%. Shell egg sales were ~$572.3M (declines ~57.5% reported), with conventional egg sales $283.17M (down 72.1%) and specialty egg sales $289.14M (down 12.1%). Prepared foods sales were $63.63M, up 441.2% year‑over‑year.

Profitability

Q3 gross profit was $119.28M (down 83.3%) with a gross margin ~17.9%. Operating income was $35.94M (down 94.3%) and operating margin ~5.4%. Net income attributable to Cal‑Maine was $50.46M (down ~90.1%) and diluted EPS was $1.06 (down ~89.8%).

Portfolio mix and strategic progress

Specialty eggs and prepared foods are making up a much larger portion of revenue: in Q3 specialty eggs were 50.5% of total shell egg sales and prepared foods 9.5% of net sales; combined they were 52.9% of net sales (up 2,890 bps). For the first three quarters of FY2026 those combined categories were 45.7% of net sales, reflecting the company’s diversification drive.

Cash flow, dividends and liquidity

Q3 net cash provided by operations was $103.6M (down 81.9%). For the first nine months operating cash flow was $476.9M (down 41.2%). Cash and short‑term investments were $1.152B at period end. The company paid a Q3 cash dividend of ~$16.8M (about $0.36 per share).

Balance sheet highlights

Total assets were $3.139B, stockholders’ equity $2.707B. Inventories were $348.9M and property, plant & equipment, net was $1.221B, indicating continued capital investment behind the prepared foods and specialty egg strategy.

Recent actions and outlook

Subsequent to Q3 Cal‑Maine acquired certain assets of Creighton Brothers LLC to increase integration across the value chain. Management said the Q3 market tested their strategy, noted improved supply and lower wholesale prices versus last year, and expects progressive recovery in prepared foods volumes and more durable normalized earnings over time.