CALM

Cal-Maine Foods, Inc. (CALM) Q4 2026 Earnings Call Transcript

Cal-Maine Foods (NASDAQ:CALM) is lower this morning after the egg producer reported a surprise fiscal fourth-quarter loss of 76 cents per share, missing analysts' expectations for a profit of 11 cents.

Cal-Maine Foods NASDAQ: CALM reported a sharp decline in fourth-quarter results as historically low conventional shell egg prices weighed on revenue and margins, while management emphasized progress in diversifying the company through specialty eggs and prepared foods.

Cal-Maine Foods swung to a fiscal fourth-quarter loss of $35.9 million, compared with a profit of $342.5 million a year ago.

RIDGELAND, Miss., July 22, 2026 (GLOBE NEWSWIRE) -- Cal-Maine Foods, Inc. (Nasdaq: CALM) (“Cal-Maine Foods,” “we,” “us,” “our” or the “company”), the largest egg company in the United States and a leading player in the egg-based food industry, today reported results for its fourth quarter and fiscal year ended May 30, 2026.

Cal-Maine Foods, Inc. (CALM) earns a reiterated 'buy' rating as its transition to specialty eggs and prepared foods drives operational resilience despite cyclical egg price lows. Specialty eggs now comprise over 50% of shell egg sales, buffering volatility; prepared foods surged 441.2% YoY to 10% of sales, enhancing margin stability. Cal-Maine maintains a fortress balance sheet with $1.1 billion net cash versus $4.1 billion market cap, supporting organic growth and opportunistic M&A.

One of America's biggest inflation stories has quietly reversed. Wholesale egg prices have fallen back to levels not seen since before the bird flu-driven supply crunch, as inventories rebuild and production normalizes.

RIDGELAND, Miss., July 06, 2026 (GLOBE NEWSWIRE) -- Cal-Maine Foods, Inc. (Nasdaq: CALM), the largest egg company in the United States and a leading player in the egg-based food industry, today announced it will report results for its fourth quarter and fiscal year 2026 at approximately 6:00 a.m. ET on Wednesday, July 22, 2026. The earnings release will be available on the Cal-Maine Foods website at https://www.calmainefoods.com/press-releases.

Cal-Maine Foods is a dominant industry player with strong moats, scale, and a robust balance sheet but faces significant earnings cyclicality. CALM benefits from its low-cost position, recent acquisitions, and product mix improvements, especially the secular growth in specialty eggs. Valuation assumes a mid-cycle scenario: ~$3.5B revenue, 8–10% net margin, and an earnings yield of 7–9%, with upside from internal initiatives.

A year-long bipartisan investigation revealed that three of the US's top egg producers "secretly communicated" with each other to inflate the daily egg price index between June 2022 and March 2025.