Cal-Maine Foods posts 53% drop in quarterly earnings amid falling egg prices
Company reports growth in prepared foods but overall sales decline year-over-year
USA – Cal-Maine Foods reported a 53% decline in net income for the quarter ended November 29, 2025, earning US$103 million, or US$2.14 per share, compared with US$219 million, or US$4.49 per share, in the same period last year.
The company’s revenue fell 24% to US$770 million from US$955 million a year earlier, reflecting weaker demand and lower selling prices for shell eggs.
Total shell egg sales declined 28%, driven by a 27% drop in selling prices and a 2% reduction in sales volume, while conventional egg sales fell 41% due to 39% lower prices and 4% lower volume.
Specialty egg sales were largely stable, decreasing by 0.4% with selling prices down 0.8% and a slight 0.3% increase in sales volume.
Prepared foods sales increased to US$72 million from US$10 million in the same quarter of the previous year but fell 15% from US$84 million in the first quarter of fiscal 2026.
The decline in prepared foods sales compared with the prior quarter was attributed to ongoing remodeling and expansion at the company’s facilities, including installation of a pancake processing line and consolidation of scrambled egg production.
Cal-Maine CEO Sherman Miller said the company’s performance showed resilience despite lower egg prices and a challenging market environment, noting that the diversified business model helped maintain results compared with the prior year’s record-high prices.
Miller added that the company is focusing on expanding its prepared foods segment to achieve sustained double-digit growth in volume through the facility upgrades.
He also said the company is working to transition from a primarily commodity-based business to a higher-value platform, emphasizing specialty eggs, premium products, and convenient protein solutions.
Cal-Maine aims to improve customer engagement and earnings stability through a combination of core shell-egg operations, hybrid pricing arrangements, and growth in the prepared foods and specialty egg segments.
The company did not provide guidance for the second half of fiscal 2026 but highlighted ongoing structural upgrades and a shift toward more predictable earnings driven by diversification and operational improvements.
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