Cal-Maine Foods (NASDAQ: CALM) Q3 profit falls 90% on egg price reset
Rhea-AI Filing Summary
Cal-Maine Foods reported sharply lower results for fiscal Q3 2026 as egg prices normalized from prior-year highs. Net sales were $667.0 million, down 53.0% year over year, and net income attributable to the company fell to $50.5 million, down 90.1%. Diluted EPS declined to $1.06, down 89.8%.
Shell egg sales dropped 57.5% to $572.3 million, driven by a 72.1% decline in conventional egg sales, while specialty egg sales fell 12.1%. Prepared foods remained a growth area, with Q3 sales of $63.6 million, up 441.2%.
Despite margin pressure, the company continued shifting its mix toward specialty eggs and prepared foods, which made up 52.9% of Q3 net sales. Cal-Maine repurchased 329,830 shares for $24.3 million and declared a cash dividend of about $0.36 per share under its variable dividend policy.
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- Sharp earnings and revenue decline: Q3 2026 net sales fell 53.0% to $667.0 million and net income attributable to Cal-Maine dropped 90.1% to $50.5 million, with diluted EPS down 89.8% to $1.06, marking a major normalization from prior-year peak conditions.
Insights
Results show steep earnings normalization as egg prices retreat.
Cal-Maine Foods posted Q3 2026 net sales of $667.0 million, down 53.0%, with net income attributable to the company dropping 90.1% to $50.5 million. Diluted EPS fell to $1.06, reflecting the reversal of prior-year windfall pricing.
Conventional egg sales were hit hardest, down 72.1%, while specialty egg sales fell a milder 12.1%. At the same time, prepared foods sales surged 441.2% to $63.6 million, helped by the Echo Lake acquisition, signaling gradual diversification beyond spot shell-egg pricing.
Management highlighted that specialty eggs and prepared foods comprised 52.9% of Q3 net sales, suggesting a more resilient mix over time. However, gross profit declined 83.3% to $119.3 million, and operating income fell 94.3% to $35.9 million, underscoring ongoing sensitivity to egg price cycles despite strategic progress.
8-K Event Classification
Key Figures
Key Terms
prepared foods financial
specialty eggs financial
variable dividend policy financial
hybrid pricing models financial
highly pathogenic avian influenza (HPAI) technical
Earnings Snapshot
FAQ
How did Cal-Maine Foods (CALM) perform in fiscal Q3 2026?
What happened to Cal-Maine Foods’ egg sales mix in Q3 2026?
How did Cal-Maine Foods’ prepared foods business perform in Q3 2026?
What were Cal-Maine Foods’ results for the first three quarters of fiscal 2026?
How strong is Cal-Maine Foods’ balance sheet as of February 28, 2026?
Filing Exhibits & Attachments
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