Cal-Maine Foods Posts $58.6M Q1 Loss as Egg Prices Collapse; Stock Falls 3.4%

Cal-Maine Foods (CALM) reported a net loss of $58.6 million, or $1.26 per diluted share, for its first quarter ended August 29, 2026, swinging from a $199.3 million profit a year earlier, as surging egg supply drove conventional shell egg prices sharply lower. Net sales fell 41.5% to $539.6 million from $922.6 million. Gross profit collapsed to $403,000 from $311.3 million, and the operating loss reached $82.2 million versus $249.2 million in operating income a year earlier. Conventional Shell Egg sales dropped 59.5% on a 59.3% decline in average selling price per dozen, with volume roughly flat; the segment swung to a $71.0 million loss from $168.2 million in income. CEO Sherman Miller attributed the downturn to an abundantly supplied market following layer flock repopulation during fiscal 2026. Specialty Shell Eggs and Prepared Foods partially offset the decline, together accounting for 54.1% of net sales, up from 37.1%. No dividend will be paid; the cumulative loss to be recovered before any future payout stood at $94.5 million. Cal-Maine stock fell 3.4% to $66.22 in midday trading Wednesday and is down more than 16% for the year.