Cal-Maine Foods, Inc. (NASDAQ: CALM) announced its financial results for the third quarter of fiscal 2026, revealing a substantial decline in net sales and earnings. The company reported net sales of $667.0 million, a decrease of 53.0% compared to $1.4 billion in the same quarter of the previous year. This decline was primarily driven by a significant drop in conventional egg sales, which fell by 72.1% to $283.2 million, attributed to lower selling prices and reduced sales volume. Specialty egg sales also decreased by 12.1%, totaling $289.1 million. The average number of layer hens grew by 2.0%, while the average number of breeding flocks increased by 13.0%. Despite these challenges, prepared foods sales surged by 441.2% to $63.6 million, largely due to the acquisition of Echo Lake Foods, which contributed to a ninefold increase in sales volume. However, gross profit plummeted by 83.3% to $119.3 million, reflecting the impact of lower egg prices. Operating income fell by 94.3% to $35.9 million, and net income attributable to Cal-Maine Foods was $50.5 million, down 90.1% from the previous year. The company also announced a cash dividend of approximately $0.36 per share, payable on May 14, 2026. The management expressed optimism about the long-term strategy, emphasizing the importance of operational execution and diversification in the face of market volatility.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.