Cal-Maine Foods, Inc. (CALM) Q1 FY2027 earnings

Reported results

• Net sales decreased 41.5% to $539.6 million from $922.6 million, primarily due to conventional shell egg average selling price declining 59.3% despite stable volume
• GAAP net loss attributable to Cal-Maine Foods was $58.6 million, or $(1.26) per diluted share, versus net income of $199.3 million or $4.12 per diluted share in the prior year
• GAAP operating loss was $82.2 million compared to operating income of $249.2 million, with conventional shell eggs segment operating loss of $71.0 million versus prior year operating income of $168.2 million
• Specialty Shell Eggs and Prepared Foods combined represented 54.1% of net sales in Q1 FY2027, up from 37.1% in the prior year
• Prepared Foods production capacity is expected to increase more than 60% by the first half of fiscal 2028 compared to fiscal 2026 year-end
• Company repurchased 66,601 shares for $5.0 million in Q1 FY2027; $315.7 million remained available under the $500 million authorization

Guidance

• Prepared Foods production capacity expected to increase more than 60% by the first half of fiscal 2028 compared to fiscal 2026 year-end

Notes

No cash dividend will be paid for Q1 FY2027 under the variable dividend policy. As of August 29, 2026, cumulative loss to be recovered before future dividend payment was $94.5 million. The company does not expect to pay a dividend for a subsequent profitable quarter until it is profitable on a cumulative basis from the date of the last quarter in which a dividend was paid.

Price and volatility reaction

The stock moved -0.7% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -9.1 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-30 (8-K, Item 2.02). Read the original filing on sec.gov.