Cal-Maine Foods posts $58.6 million quarterly loss

• Cal-Maine Foods (NASDAQ:CALM) reported a first-quarter fiscal 2027 net loss of $58.615 million as revenue declined due to lower egg prices.
• Net sales fell 41.5% to $539.607 million, while diluted loss per share was $1.26 compared with earnings of $4.12 a year earlier.
• The company expanded its Eggland’s Best franchise territory and plans to increase Prepared Foods capacity by more than 60% by the first half of fiscal 2028.

Cal-Maine Foods (NASDAQ:CALM) reported a first-quarter fiscal 2027 net loss attributable to the company of $58.615 million, reversing a year-earlier profit as net sales declined 41.5% to $539.607 million.

The company’s results reflected lower egg prices, with conventional shell egg sales declining 59.5% as average selling prices dropped 59.3% compared with the prior-year period.

Cal-Maine reported a diluted loss per share of $1.26 compared with earnings of $4.12 a year earlier, while operating loss reached $82.165 million compared with operating income of $249.184 million.

During the period under review, cash and short-term investments declined to $767.592 million from $924.057 million.

Elsewhere, Specialty Shell Eggs and Prepared Foods sales also declined during the quarter, although their combined contribution increased to 54.1% of net sales from 37.1% a year earlier as conventional egg sales weakened.

Cal-Maine acquired additional Eggland’s Best franchise territory in the Northeast and stated that projects are expected to expand Prepared Foods capacity by more than 60% by the first half of fiscal 2028 compared with fiscal 2026 year-end, while no first-quarter cash dividend will be paid.