Form 8-K

8-K — CAL-MAINE FOODS INC

Accession: 0001562762-26-000078

Filed: 2026-07-22

Period: 2026-07-22

CIK: 0000016160

SIC: 0200 (AGRICULTURE PRODUCTION - LIVESTOCK & ANIMAL SPECIALTIES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — 8k20260722.htm (Primary)

EX-99.1 (exhibit991.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — FORM 8-K

8-K (Primary)

Filename: 8k20260722.htm · Sequence: 1

8k20260722

0000016160

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☐

0000016160

2026-07-22

UNITED

STATES

SECURITIES

AND EXCHANGE

COMMISSIONS

WASHINGTON,

DC 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13

or 15(d)

of the Securities

Exchange

Act.

Date of

Report

(Date of

Earliest Event

Reported):

July 22, 2026

Cal-Maine Foods, Inc.

(Exact

name

of registrant

as specified

in its charter)

Delaware

001-38695

64-0500378

(State

or other jurisdiction

incorporation)

(Commission

File Number)

(IRS Employer

Identification

No.)

1052 Highland Colony Pkwy

Suite 200

Ridgeland

39157

(Address of

principal

executive

offices

(zip code))

601

948-6813

(Registrant’s

telephone

number,

including area

code)

Check

the appropriate

box below if the

Form 8-K filing is intended

to simultaneously

satisfy

the filing obligation of

the

registrant

under any

of the

following provision (See General

Instruction

A.2 below):

☐

Written

communications

pursuant

to rule 425

under the

Securities Act (17 CFR 230.425)

☐

Soliciting material

pursuant

to Rule 14a

-12 under

the Exchange

Act (17 CFR 240.14a

-12)

☐

Pre-commencement

communications

pursuant

to Rule 14d

-2(b) under the

Exchange

Act (17 CFR 240.14d

-2(b))

☐

Pre-commencement

communications

pursuant

to Rule 13

-4(c) under the

Exchange

Act (17 CFR 240.13e

-4(c))

Securities

registered

pursuant

to Section

12(b) of

the Act.

Title

of each

class

Trading

Symbol

(s)

Name

of each

exchange

on which registered

Common Stock $0.01 per value per share

CALM

The

NASDAQ

Global

Select market

Indicate

by check

mark

whether the

registrant is an emerging growth company

as defined

in Rule 405 of

the Securities Act of

1933

(§230.405

of this chapter)

or rule 12b-2 of the

Securities Exchange

Act of 1934

(§240.12b

-2 of this chapter)

Emerging

growth company

☐

If an

emerging growth company,

indicate

by check

mark

if the registrant

has

elected not

to use the

extended

transition

period

for complying

with any

new or revised financial

accounting

standards

provided

pursuant

to Section

13(a) of

the Exchange

Act.

☐

Item 2.02.

Results of

Operations

On July 22,

2026,

Cal

-Maine Foods,

Inc. (the

“Company”)

issued a press release

announcing

its financial

results for the fourth

quarter

ended

May

30, 2026.

A copy of

the Company’s

press release is attached

hereto as

Exhibit 99.1

to this Current

Report.

In accordance

with General Instruction

B.2 of Form

8-K, the information

in this Item

2.02 of

this Current Report

on Form 8-K,

including

Exhibit 99.1

hereto, which

are furnished

herewith pursuant

to and

relate to

this Item

2.02, shall not

be deemed

"filed"

for purposes

of Section

18 of

the Securities Exchange

Act of 1934,

as amended

(the "Exchange

Act"), or otherwise be subject

to the

liabilities of Section

18 of

the Exchange

Act. The information

in this Item

2.02 of

this Current Report

on Form 8-K

and

Exhibit

99.1 hereto shall

not be

incorporated

by reference into

any

filing or other document

filed by the

Company

with the SEC

pursuant

to the

Securities Act of 1933,

as amended,

the rules and

regulations of

the SEC thereunder,

the Exchange

Act, or the

rules an

regulations of

the SEC thereunder

except

as shall be

expressly set forth

by specific reference

to this Form 8-K

in such

filing or

document.

Item 9.01.

Financial

Statements

and Exhibits

(d)

Exhibits

Exhibit

Number

Description

99.1

Press Release issued by the Company on July 22, 2026

104

Cover Page

Interactive

Data

File,

(embedded

within the Inline XBRL

document)

SIGNATURES

Pursuant

to the

requirements

for the

Securities Exchange

Act of 1934,

the registrant

has

duly caused

this report to be

signed on

its behalf

by the

undersigned hereunto

duly authorized.

CAL-MAINE

FOODS,

INC.

Date:

July 22,

2026

By:

/s/ Max

P. Bowman

Max

P. Bowman

Director,

Vice

President, and

Chief Financial

Officer

EX-99.1

Filename: exhibit991.htm · Sequence: 2

exhibit991

Press Release

Cal-Maine Foods Reports Fourth Quarter and Fiscal 2026 Results

Announces New Segment Reporting Structure, Acquisition of Additional Eggland’s Best® Franchise

Territory, and New Prepared Foods Growth

Investment

RIDGELAND,

Miss., July

22, 2026 – 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. Unless

otherwise indicated,

all comparisons

are to the comparable

period of fiscal

2025.

Financial Highlights

(in thousands except per share amounts and percentages)

Fourth Quarter

Fiscal Year

2026

2025

$ Change

% Change

2026

2025

$ Change

% Change

Net sales

552,581

1,103,658

(551,077)

(49.9)

2,911,632

4,261,885

(1,350,253)

(31.7)

Gross profit

34,066

531,510

(497,444)

(93.6)

672,049

1,850,885

(1,178,836)

(63.7)

Operating

income

(loss)

(58,811)

435,851

(494,662)

(113.5)

350,186

1,536,539

(1,186,353)

(77.2)

Net income

attributable to Cal-

Maine

Foods, Inc.

(35,876)

342,475

(378,351)

(110.5)

316,682

1,220,048

(903,366)

(74.0)

Income (loss)

per

share - diluted

(0.76)

7.01

(7.77)

(110.8)

6.63

24.95

(18.32)

(73.4)

Strategic Execution Highlights

●

Continued

focus on

sales

diversification

and mix

shift,

expected

to strengthen

earnings

durability

and

predictability

over time

In the fourth

quarter of

fiscal 2026:

◾

Prepared Foods accounted for 10.9% of net sales

◾

Combined, Specialty Shell Eggs and Prepared Foods increased to 53.0% of net sales

In fiscal

2026:

◾

Prepared Foods accounted for 8.4% of net sales

◾

Combined, Specialty Shell Eggs and Prepared Foods grew to 44.4% of net sales

●

Acquired

certain

assets

Creighton

Brothers

LLC

and

its

affiliates,

intended

further

enhance

vertically

integrated

operating

model and

strengthen

connectivity

across

shell

egg and

prepared

foods

value chain

●

Acquired the

Van’s®

brand, aimed at accelerating

strategic evolution into

value-added, consumer-facing

prepared foods

and further diversifying

earnings profile

●

Subsequent to fiscal year-end:

Acquired additional

Eggland’s Best®

franchise territory

in Northeast,

expanding the

company's

distribution

footprint

and increasing its specialty

shell egg category penetration

across one of the

nation’s

largest, highest-income

consumer markets

Announced new $54 million investment to further expand Prepared Foods production capacity:

◾

Expected

add approximately

30% incremental

production

capacity

beginning

the

first

half of fiscal

2028

◾

Builds

previously

announced

30%

organic

capacity

growth

and

Van’s®

acquisition-driven capacity growth

◾

Prepared Foods production

capacity projected to

increase by over 60%

from the

end of

fiscal

2026 through the first

half of fiscal

2028

Commentary

Sherman Miller, president and chief executive

officer of Cal-Maine Foods, said,

"Fiscal 2026, culminating

particularly

challenging

fourth

quarter,

reinforced

the

importance

our

strategy

enhance

the

structural

mix of

our

business, expand

our portfolio

products that

support more

stable

and predictable

financial

performance,

and reposition our pricing

structure by reducing

the impact

of market-based

pricing.

Equally

important

has

been maintaining

a strong

balance

sheet, which

provides

the financial

flexibility

navigate market

cyclicality

while supporting

our long-term

strategic

priorities.

“During

the

quarter,

industry

oversupply

drove

wholesale

shell

egg

prices

historically

low

inflation-

adjusted levels. This dynamic was largely supply-driven

rather than demand-driven, and we continue to see

favorable

long-term

demand

fundamentals

across

our

end

markets.

The

sustained

trough

pricing

environment in the quarter provides

a valuable stress-case

reference point, demonstrating

the resilience

built

through our strategic actions to date while highlighting

the meaningful upside opportunity as our initiatives

continue to

mature.

“We are

proud of

the progress

we have

made this

year executing

our strategy.

We are

advancing our

Prepared

Foods network

optimization and expansion

initiatives on

schedule, driving improved

operating

performance

and sequential margin

improvement

in the quarter. We delivered

Specialty

Shell Egg volume growth for the

full fiscal

year

with broad-based

gains across

subcategories. Notably,

Specialty

Shell Eggs

plus Prepared

Foods represented

more than half

of our net sales

for the fourth

quarter of

fiscal 2026.”

New Reportable Operating Segments

Cal-Maine Foods previously operated as one operating and one reportable segment. Effective in the fourth

quarter of

fiscal 2026, the

company implemented

a new operating segment

structure

designed to better

align with how management reviews operating results and makes decisions about resource allocation and

strategic

initiatives.

Cal-Maine Foods’ reportable operating segments now consist of the following:

●

Conventional Shell Eggs

●

Specialty Shell Eggs

●

Prepared Foods

Cal-Maine Foods’ remaining operations, which include co-pack shell eggs, egg products, hard-cooked

eggs and other business

activities,

are not reportable

segments,

as defined by the

applicable

accounting

standard. All prior

fiscal

year periods have been

recast to reflect

the new reportable

segments,

and such

recast information

is included

in the schedules

accompanying this

release.

Segment Results Summary

Segment Sales

(in thousands except percentages)

Fourth Quarter

Fiscal Year

2026

2025

Volume

Change

Avg.

Price

Change

2026

2025

Volume

Change

Avg.

Price

Change

Conventional Shell Eggs

210,765

702,069

3.1

(70.9)

1,348,076

2,755,859

(0.3)

(50.9)

Specialty Shell Eggs

239,731

305,142

(5.9)

(16.5)

1,070,458

1,154,951

2.4

(9.5)

Prepared

Foods

60,403

1,565

N.M

244,802

4,050

N.M

Total Reportable Segments

510,899

1,008,776

2,663,336

3,914,860

N.M. – Not Meaningful

Operating

Income (Loss)

(in thousands except percentages)

Fourth Quarter

Fiscal Year

Operating

Margin

Operating

Margin

2026

2025

2026

2025

2026

2025

2026

2025

Conventional Shell Eggs

(40,587)

370,499

(19.3)

52.8

216,641

1,290,003

16.1

46.8

Specialty Shell Eggs

17,538

87,129

7.3

28.6

181,544

333,602

17.0

28.9

Prepared

Foods

8,820

(647)

14.6

(41.3)

33,882

(2,119)

13.8

(52.3)

Total Reportable Segments

(14,229)

456,981

(2.8)

45.3

432,067

1,621,486

16.2

41.4

Other - Segment

Income

(Loss)

(7,394)

25,535

N/A

19,044

42,091

N/A

Unallocated

Corporate

SG&A

(37,897)

(45,923)

N/A

(108,353)

(127,141)

N/A

Gain (Loss)

on Involuntary

Conversion

851

—

N/A

8,819

(156)

N/A

Gain (Loss)

Disposal of

Fixed Assets

(142)

(742)

N/A

(1,391)

259

N/A

Operating

Income (Loss)

(58,811)

435,851

(10.6)

39.5

350,186

1,536,539

12.0

36.1

N/A – Not Applicable

Conventional Shell Eggs

Fourth quarter

and full-year performance

reflected

an egg pricing environment

that deteriorated

throughout

fiscal

2026,

with

egg

prices

reaching

historically

low

inflation-adjusted

levels

the

fourth

quarter

and

remaining

well

below

the

record-high

prices

the

prior

fiscal

year.

Market

conditions

were

driven

elevated supply,

resulting

in low pricing.

During fiscal

2026, supply increased

to levels

that left

the market

abundantly supplied, a

sharp contrast to

the severe shortages

experienced in the prior

fiscal year. In

addition,

the fourth

and first

fiscal

quarters

are typically

the

seasonally

lowest periods

for pricing,

even under more

normal supply conditions.

These

headwinds

were

partially

offset

the

benefits

existing

grain-based

and

hybrid

pricing

arrangements

with

certain

customers

and

rigorous

commercial

execution.

Volume

increased

3.1%

the

fourth quarter and was relatively flat for the fiscal year, indicating that lower results were driven by pricing

rather than demand.

Average selling

price per

dozen decreased 70.9%

the fourth

quarter and

50.9% for

the

fiscal

year.

Margins

declined

due

substantially

lower

pricing,

partially

offset

improved

price

realization

relative

to both the prior-year

fourth quarter

and preceding quarter.

Specialty Shell Eggs

Fourth

quarter

volumes

were

consistent

with

historical

seasonal

patterns,

underlying

demand,

and

typical

pricing

relationships

across

adjacent

categories.

Volumes

decreased

5.9%

the

fourth

quarter

primarily

due

unusually

strong

prior-year

comparison,

which

benefited

from

temporary

demand

acceleration

driven by

an atypical

pricing relationship

with

conventional

shell eggs.

The average

selling

price per dozen for the fourth quarter decreased 16.5%, driven by supply-side dynamics.

As a result,

the quarter

reflects

a seasonal

reversion

from an

exceptionally

strong

prior-year

period,

while

the broader

segment continues

to benefit from

stable long-term pricing and

favorable demand fundamentals.

For the

fiscal

year, volume

increased

2.4%

despite more

typical

pricing

dynamics, an

encouraging

result

that

reflects

resilient

consumer

demand

and

the

strength

the

company’s

commercial

execution.

The

average

selling

price

per

dozen

for

the

fiscal

year

decreased

9.5%.

Margins

declined

both

the

fourth

quarter and fiscal year, primarily

due to pricing that remained

below the elevated prior-year levels and lower

volumes in

the fourth quarter.

Prepared Foods

For the fourth quarter, results reflected continued execution of previously announced network optimization

and expansion initiatives.

As these initiatives advanced on

schedule, higher production improved

utilization

and

fixed-cost

absorption,

driving

stronger

operating

performance

and

sequential

margin

improvement.

Sales prices

and volume

increased

compared

to the

third

quarter

of fiscal

2026. The integration

Van’s®

progressed

in line

with

expectations,

with

early

results

demonstrating

strong

performance.

The

Crepini®

joint venture continued to exhibit

robust growth momentum, reinforcing

the company’s ability

to scale high-

performing brands and products.

Outlook

Mr.

Miller

commented,

"Looking

ahead,

believe

are

increasingly

well

positioned

market

conditions improve,

particularly

as we move beyond our first quarter.

During the first

five weeks of our first

quarter,

Urner

Barry

reported

that

market

prices

averaged

just

$0.72,

approximately

54%

below

the

comparable

period

our

fourth

quarter.

recently,

Urner

Barry

has

reported

that

pricing

has

strengthened,

increasing

than

90%

only

few

weeks.

Early

indications

point

improving

supply-demand

balance,

supporting

constructive

egg

pricing

environment

heading

into

the

fall,

which is historically

a seasonally

stronger period.

“More importantly,

believe the

strategy

have

been executing

is beginning

gain

traction. A key

component

this

strategy

expanding

our

presence

categories

with

attractive

long-term

growth

opportunities

and strong

market positioning.

“We

are

excited

about

the

expansion of

our

Eggland’s

Best®

franchise

territory

the

Northeast,

which

provides us with the right to distribute and sell

Eggland’s Best®

and

Land O’Lakes®

branded

eggs in

Maine,

Massachusetts,

New Hampshire,

Rhode Island,

and select

key areas

in Vermont,

New York,

and Connecticut.

This expansion is expected to increase our Specialty Shell Egg volume by approximately 5% annually, and

further

strengthens our

position in

an important

growth market.

“We are also advancing our

long-term growth strategy with a new $54 million

investment to further expand

our

Prepared

Foods

production

capacity.

This

investment

will

add

approximately

30%

incremental

production

beginning

the

first

half

fiscal

2028,

strengthening

our

business

with

durable,

predictable,

and

diversified

revenue

and

earnings

profile.

Together

with

our

previously

announced

30%

organic capacity

growth

and

Van’s®

acquisition-driven

capacity

growth,

Prepared

Foods

production

capacity will

increase

over 60% from

the end of fiscal

2026 through the

first half

of fiscal

2028.

“We are

still in

the

early stages of

our evolution,

with substantial

runway to

grow our

value-added businesses

through both organic expansion

and targeted acquisitions. As our portfolio continues

to mature, we

expect

a greater

earnings

come

from

higher-quality,

less

cyclical

sources,

creating

a more

consistent

earnings

profile

and

positioning

the

company

for

sustainable

growth

and

long-term

shareholder

value

creation."

Share Repurchase Update

Cal-Maine

Foods

repurchased

396,083

its

common

stock

under

the

company’s

current

repurchase

authorization

during

the

fourth

quarter

for

total

$30.1

million.

The

repurchase

program

permits

the company to

repurchase up to $500

million,

of which $320.7 million

remains available.

Dividend Payment

Pursuant to the company’s

variable dividend policy,

Cal-Maine Foods will

not pay a cash dividend

for the

fourth quarter and

will not pay

a dividend for a

subsequent profitable quarter until the

company is profitable

on a cumulative basis

computed from the date of

the last quarter in

which a dividend was paid. As of May

30, 2026,

the total

cumulative loss

to be

recovered before

payment of

any future dividends

under

our variable

dividend policy was $35.9 million.

Conference Call and Webcast

Management

will host

conference call

and webcast

9:00

a.m.

ET on

July

22, 2026.

Participants

can

access

the

live

webcast

the

Investor

Relations

page

the

Cal-Maine

Foods

website

https://www.calmainefoods.com/events-presentations

To join

by telephone,

participants

can register

here

Upon registration,

participants

will receive a confirmation

email with detailed

instructions,

including a dial-

number,

unique

passcode,

and

registrant

ID. A

replay

the

webcast

will

available

for

days

following

the

call

the

Investor

Relations

page

the

Cal-Maine

Foods

website

https://www.calmainefoods.com/events-presentations

About Cal-Maine Foods

Cal-Maine Foods, Inc.

(Nasdaq: CALM) is

the largest

egg company

in the

United States and

a leading

player

the

egg-based

food

industry.

With

strong

national

footprint,

Cal-Maine

Foods

provides

nutritious,

affordable, and sustainable protein to millions of households every day.

The company’s

portfolio spans

the full egg

value ladder—from

conventional

to specialty, including

cage-

free,

organic,

brown,

free-range,

pasture-raised,

and

nutritionally

enhanced—serving

both

retail

and

foodservice customers nationwide. Cal-Maine Foods also

participates in the growing prepared foods

sector,

with

offerings

such

pre-cooked

egg patties,

omelets,

folded and

scrambled

egg

formats, hard-cooked

eggs,

pancakes,

waffles,

and

specialty

wraps.

Its

branded

portfolio

includes

Eggland’s

Best®

Land

O’Lakes®

Farmhouse Eggs®

4Grain®

Sunups®

Sunny Meadow®

MeadowCreek Foods®

Van’s®

, and

Crepini®

Headquartered in Ridgeland,

Mississippi,

Cal-Maine’s

strategy combines

scale, operational

excellence, and

financial

discipline

with a

commitment

to innovation

and sustainability,

to enable

the company

to deliver

trusted

nutrition,

enduring partnerships,

and long-term

value for its

stakeholders.

Forward Looking Statements

Statements

contained in this

press release

that are not historical

facts are forward-looking

statements

as that

term is defined in

the Private Securities Litigation Reform

Act of 1995.

The forward-looking statements are

based

management’s

current

intent,

belief,

expectations,

estimates

and

projections

regarding

our

Company and

our

industry. These

statements

are not

guarantees of

future performance

and involve

risks,

uncertainties,

assumptions and other

factors that

are difficult

to predict

and may be beyond our control. The

factors

that

could

cause

actual

results

differ

materially

from

those

projected

the

forward-looking

statements

include,

among

others,

(i)

the

risk

factors

set

forth

the

company’s

SEC Filings

(including

its

Annual Report on Form 10-K,

as updated in Part II

Item 1A of

the company’s quarterly reports on Form

10-

Q and Current Reports on Form 8-K), (ii) changes in wholesale shell egg market prices, (iii) changes in the

demand

for

shell

eggs

and

our

prepared

foods

offerings,

(iv)

increases

feed

costs

for

our

shell

egg

operations

as well as increases

in input costs

for prepared

foods, (v) our ability

to predict

and meet demand

for

cage-free

and other

specialty

shell

eggs, (vi)

the

risks

and hazards

inherent

shell

egg, egg

products

and prepared foods

operations (including,

as applicable, disease, pests,

weather conditions, and

potential for

product

recall),

including

but

not

limited

the

current

outbreak

HPAI

affecting

poultry

the

U.S.,

Canada and

other countries

that was first

detected in commercial

flocks in

the

U.S. in February

2022 and

that impacted

our flocks in the

third and fourth

quarters

of fiscal

2024 and again in March

2026, (vii) risks,

changes, or obligations that

could result from

our recent or future

acquisition of new

flocks or

businesses,

such as

our acquisition

of Echo Lake

Foods completed June

2, 2025, and

risks or

changes that

may cause

conditions

to completing

a pending acquisition

not to be met,

(viii)

our ability

to successfully

integrate

and

manage

recently

acquired

businesses

Echo

Lake

Foods

and

realize

the

expected

benefits

such

acquisitions, including synergies, cost savings, reduction in earnings volatility, margin expansion, financial

returns, expanded customer relationships,

or sales or growth opportunities, (ix) our ability to produce, supply

and distribute

shell

eggs and

prepared foods

efficiently

and reliably,

(x)

our ability

to compete

effectively

with existing

competitors

and new

market

entrants,

retain

existing

customers,

acquire

new customers

and

grow

our

product

mix

including

our

prepared

foods

product

offerings,

(xi)

the

impacts

government,

customer

and

consumer reactions

high

market

prices for

eggs,

including,

without

limitation, potential

new or expanded government

regulations,

(xii)

risks relating

to potential

changes in inflation,

interest

rates

and trade

and tariff policies,

(xiii) the

loss or

expiration of

any registered

trademarks or

other intellectual

property that

we use in our business,

(xiv) adverse

results

in pending litigation

and other legal

matters,

and

(xv) global instability,

including as a result

of geopolitical

conflicts and other

uncertainties.

The Company’s

SEC filings

may be

obtained from

the

SEC or the

company’s

website, www.calmainefoods.com.

Readers

are

cautioned

not

place

undue

reliance

forward-looking statements

because,

while

believe

the

assumptions on which

the forward-looking statements are

based are reasonable,

there can be

no assurance

that

these

forward-looking

statements

will

prove

accurate.

Further,

forward-looking

statements

included herein

are made only as of the respective

dates thereof,

or if no date is stated,

as of the date hereof.

Except as otherwise required by law, we disclaim any intent

or obligation to update publicly these forward-

looking statements, whether because of new information, future events, or otherwise.

CAL-MAINE

FOODS, INC. AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)

(In thousands, except per share amounts)

SUMMARY STATEMENTS

OF INCOME

13 Weeks

Ended

52 Weeks

Ended

May 30, 2026

May 31, 2025

May 30, 2026

May 31, 2025

Net sales

552,581

1,103,658

2,911,632

4,261,885

Cost of sales

518,515

572,148

2,239,583

2,411,000

Gross profit

34,066

531,510

672,049

1,850,885

Selling,

general

and administrative

93,586

94,917

329,291

314,449

(Gain) loss

on involuntary

conversions

(851)

—

(8,819)

156

(Gain) loss

on disposal

of fixed assets

142

742

1,391

(259)

Operating

income

(loss)

(58,811)

435,851

350,186

1,536,539

Other income,

net

12,285

17,348

60,818

66,603

Income (loss)

before

income

taxes

(46,526)

453,199

411,004

1,603,142

Income tax

expense

(benefit)

(11,486)

111,069

92,892

384,910

Net income

(loss)

(35,040)

342,130

318,112

1,218,232

Less: Income

(loss) attributable

noncontrolling

interest

836

(345)

1,430

(1,816)

Net income

(loss) attributable

to Cal-Maine

Foods, Inc.

(35,876)

342,475

316,682

1,220,048

Net income

(loss) per common

Basic

(0.76)

7.03

6.65

25.04

Diluted

(0.76)

7.01

6.63

24.95

Weighted

average

shares outstanding:

Basic

47,000

48,696

47,650

48,719

Diluted

47,000

48,821

47,781

48,891

CAL-MAINE

FOODS, INC. AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)

(In thousands)

SUMMARY BALANCE SHEETS

May 30, 2026

May 31, 2025

ASSETS

Cash and

short-term investments

924,057

1,392,100

Receivables, net

264,431

272,361

Inventories,

net

375,265

295,670

Prepaid expenses

and other

current assets

17,789

7,979

Current assets

1,581,542

1,968,110

Property,

plant

and equipment,

net

1,318,335

1,026,684

Other noncurrent

assets

207,693

89,825

Total assets

3,107,570

3,084,619

LIABILITIES

AND STOCKHOLDERS'

EQUITY

Accounts payable and accrued expenses

205,516

194,208

Dividends payable

—

114,163

Current liabilities

205,516

308,371

Deferred

income

taxes and

other liabilities

261,522

210,233

Stockholders'

equity

2,640,532

2,566,015

Total liabilities and stockholders' equity

3,107,570

3,084,619

CAL-MAINE

FOODS, INC. AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)

(In thousands)

SUMMARY SEGMENT INCOME

Conventional

Shell Eggs

Fiscal Year 2026

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Net sales

- external

customers

486,523

350,452

271,556

201,026

Intersegment

sales

11,910

10,035

6,835

9,739

Total segment sales

498,433

360,487

278,391

210,765

Segment COGS

312,205

273,170

240,567

233,237

Segment SG&A

17,992

17,495

18,654

18,115

Segment operating

income

168,236

69,822

19,170

(40,587)

Fiscal Year 2025

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Net sales

- external

customers

462,018

588,004

964,061

689,419

Intersegment

sales

10,332

12,735

16,640

12,650

Total segment sales

472,350

600,739

980,701

702,069

Segment COGS

308,879

342,667

428,040

313,626

Segment SG&A

17,956

18,221

18,523

17,944

Segment operating

income

145,515

239,851

534,138

370,499

Fiscal Year 2024

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Net sales

- external

customers

214,773

266,782

392,199

353,149

Intersegment

sales

5,441

4,454

5,476

5,018

Total segment sales

220,214

271,236

397,675

358,167

Segment COGS

228,197

239,499

263,730

238,605

Segment SG&A

16,673

15,893

15,710

15,284

Segment operating

income

(24,656)

15,844

118,235

104,278

CAL-MAINE

FOODS, INC. AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)

(In thousands)

SUMMARY SEGMENT INCOME

Specialty Shell

Eggs

Fiscal Year 2026

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Net sales

- external

customers

269,579

271,941

275,254

232,454

Intersegment

sales

6,011

4,806

3,136

7,277

Total segment sales

275,590

276,747

278,390

239,731

Segment COGS

184,575

186,830

210,693

195,822

Segment SG&A

26,819

28,263

29,541

26,371

Segment operating

income

64,196

61,654

38,156

17,538

Fiscal Year 2025

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Net sales

- external

customers

241,620

272,233

314,590

298,158

Intersegment

sales

6,086

5,554

9,726

6,984

Total segment sales

247,706

277,787

324,316

305,142

Segment COGS

168,890

179,280

178,985

190,256

Segment SG&A

24,923

27,737

23,521

27,757

Segment operating

income

53,893

70,770

121,810

87,129

Fiscal Year 2024

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Net sales

- external

customers

193,674

203,503

243,273

222,847

Intersegment

sales

2,683

2,199

2,721

2,719

Total segment sales

196,357

205,702

245,994

225,566

Segment COGS

157,112

157,392

170,152

163,580

Segment SG&A

20,263

20,904

24,119

23,902

Segment operating

income

18,982

27,406

51,723

38,084

CAL-MAINE

FOODS, INC. AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)

(In thousands)

SUMMARY SEGMENT INCOME

Prepared Foods

Fiscal Year 2026

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Net sales

- external

customers

72,368

60,012

52,019

60,403

Intersegment

sales

—

Total segment sales

72,368

60,012

52,019

60,403

Segment COGS

53,471

45,218

42,978

43,703

Segment SG&A

5,676

5,784

6,210

7,880

Segment operating

income

13,221

9,010

2,831

8,820

Fiscal Year 2025

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Net sales

- external

customers

—

1,024

1,461

1,565

Intersegment

sales

—

Total segment sales

—

1,024

1,461

1,565

Segment COGS

—

1,303

1,609

1,599

Segment SG&A

—

460

585

613

Segment operating

income

—

(739)

(733)

(647)

Contacts

Investors:

ir@cmfoods.com

Media: media@cmfoods.com

Telephone: (601) 948-6813

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Document and Entity Information

Jul. 22, 2026

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