Cal‑Maine Q3 Revenue Drops 53% on Egg Price Slide as Shift to Higher‑Value Mix Accelerates

Overview

• Cal‑Maine, which reported results Wednesday, posted $667.0 million in revenue and $50.5 million in net income, equal to $1.06 per diluted share.
• Conventional egg sales fell 72.1% on roughly 70.1% lower selling prices, which the company linked to improved supply as USDA data showed depopulations down 70.6% and the national layer flock up 2.2% year over year.
• Specialty eggs rose to 50.5% of shell egg sales and prepared foods reached 9.5% of net sales, with prepared foods jumping 441% to $63.6 million largely due to the Echo Lake acquisition.
• After the quarter, Cal‑Maine bought certain assets of Creighton Brothers to expand in‑house sourcing and support growth in egg products and prepared foods.
• The company repurchased 329,830 shares for $24.3 million with $350.8 million still authorized, and it declared an estimated $0.36 per‑share dividend payable May 14 to holders of record on April 29.