CALM on Nasdaq

Cal-Maine

Logo: Cal-Maine, Public domain, via Wikimedia Commons4

Egg producer in Jackson, Mississippi, U.S.

Cal-Maine Foods, Inc. is an American fresh egg producer based in Ridgeland, Mississippi.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 16, 2026.

Overview

$2.9BRevenue, fiscal 20265
$316.7MNet income, fiscal 20265
1969Founded1

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  • TickerCALM on Nasdaq1
  • IndustryAgricultural Prod-Livestock & Animal Specialties1
  • HeadquartersJackson1
  • Websitewww.calmainefoods.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address1052 Highland Colony Pkwy, Suite 200, Ridgeland, Ms 391576
  • Filer categoryLarge accelerated filer6

Cal-Maine Foods, Inc. is an American fresh egg producer based in Ridgeland, Mississippi. As of 2024, it was the largest egg producer in the United States. Its eggs are sold under several different brand names, including Egg-Land's Best, Land O'Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4-Grain. The company was founded in 1957 by Fred R. Adams, Jr., whose family owns a controlling interest in the company, which is publicly traded on the NASDAQ stock exchange.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

23.1%Gross margin5
12.0%Operating margin5
10.9%Net margin5
-31.7%Revenue growth, 20265
12.0%Return on equity5
$328.5MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Retail brought in 82% of the revenue Cal-Maine broke down this way in fiscal 2026.

  1. Retail$2.4B582%down 34% from 2025
  2. Food and Beverage$450.4M515%down 26% from 2025
  3. Service, Other$72.0M52%up 89% from 2025
Products and services by year
Products and services202420252026
Retail$2.0B$3.6B$2.4B
Food and Beverage$273.3M$612.0M$450.4M
Service, Other$11.1M$38.2M$72.0M

Business segments

Conventional Shell Egg brought in 45% of the revenue Cal-Maine broke down this way in fiscal 2026.

  1. Conventional Shell Egg$1.3B545%down 52% from 2025
  2. Specialty Shell Egg Sales$1.0B536%down 7% from 2025
  3. Other Operating$308.0M511%down 28% from 2025
  4. Prepared Foods$244.8M58%up 5944% from 2025
Business segments by year
Business segments202420252026
Conventional Shell Egg$1.2B$2.7B$1.3B
Specialty Shell Egg Sales$863.3M$1.1B$1.0B
Other Operating$236.2M$427.7M$308.0M
Prepared Foods$4.0M$244.8M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue75¢$2.2B
  • Selling, general and admin11¢$329.3M
  • Income tax3¢$92.9M
  • Profit11¢$316.7M

Out of $2.9B in revenue.5

Where each dollar of operating cash went, fiscal 2026

  • Capital spending32¢$151.2M
  • Dividends paid48¢$231.6M
  • Kept or used elsewhere20¢$96.9M

Out of $479.8M of cash from operations.5

Financial statements

Revenue891011125$2.9B in 2026+114% since 2019
0$2.0B$4.0B$6.0B2019: $1.4B$1.4B20192020: $1.4B$1.4B2020−1%2021: $1.3B$1.3B2021−0%2022: $1.8B$1.8B2022+32%2023: $3.1B$3.1B2023+77%2024: $2.3B$2.3B2024−26%2025: $4.3B$4.3B2025+83%2026: $2.9B$2.9B2026−32%
Gross profit891011125$672.0M in 2026+202% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $222.9M$222.9M20192020: $179.6M$179.6M2020−19%2021: $160.7M$160.7M2021−11%2022: $337.1M$337.1M2022+110%2023: $1.2B$1.2B2023+255%2024: $541.6M$541.6M2024−55%2025: $1.9B$1.9B2025+242%2026: $672.0M$672.0M2026−64%
Operating income891011125$350.2M in 2026+665% since 2019
-$500.0M0$500.0M$1.0B$1.5B$2.0B2019: $45.8M$45.8M20192020: $1.3M$1.3M2020−97%2021: -$26.3M-$26.3M20212022: $143.5M$143.5M20222023: $967.7M$967.7M2023+574%2024: $312.5M$312.5M2024−68%2025: $1.5B$1.5B2025+392%2026: $350.2M$350.2M2026−77%
Net income891011125$316.7M in 2026+484% since 2019
0$500.0M$1.0B$1.5B2019: $54.2M$54.2M20192020: $18.4M$18.4M2020−66%2021: $2.1M$2.1M2021−89%2022: $132.7M$132.7M2022+6339%2023: $758.0M$758.0M2023+471%2024: $277.9M$277.9M2024−63%2025: $1.2B$1.2B2025+339%2026: $316.7M$316.7M2026−74%

Every line of the income statement in the latest annual report, as filed.5

Period ending2026-05-312025-05-312024-05-31
Net sales$2.9B$4.3B$2.3B
Cost of sales$2.2B$2.4B$1.8B
Gross profit$672.0M$1.9B$541.6M
Selling, general and administrative$329.3M$314.4M$252.6M
(Gain) loss on involuntary conversions-$8.8M$156.0K-$23.5M
(Gain) loss on disposal of fixed assets$1.4M-$259.0K$26.0K
Operating income$350.2M$1.5B$312.5M
Interest income, net$46.2M$48.1M$31.7M
Patronage dividends$11.7M$11.2M$11.3M
Other, net$3.0M$7.3M$4.5M
Total other income$60.8M$66.6M$47.5M
Income before income taxes$411.0M$1.6B$360.0M
Income tax expense$92.9M$384.9M$83.7M
Net income$318.1M$1.2B$276.3M
Less: Income (loss) attributable to noncontrolling interest$1.4M-$1.8M-$1.6M
Net income attributable to Cal-Maine Foods, Inc.$316.7M$1.2B$277.9M
Basic (in dollars per share)$6.65$25.04$5.70
Diluted (in dollars per share)$6.63$24.95$5.69
Basic (in shares)47.6M shares48.7M shares48.7M shares
Diluted (in shares)47.8M shares48.9M shares48.9M shares

Compare Cal-Maine with another company

The story

The company's size is largely due to its acquisition of at least 25 other egg-producing businesses over the years. As of 2025, they produce and sell about 13 billion eggs each year, or about 20% of all commercially produced eggs in the US.

On May 1, 2012, Cal-Maine announced a joint venture between the cooperative Egg-Land's Best and Land O'Lakes. Cal-Maine was the largest franchisee of Egg-Land's Best and one of the company's 13 shareholders. As of 2011, 16 percent of Cal-Maine egg sales were Egg-Land's Best.

In 2018, an investigation at Lake Wales Farm by the animal rights group Animal Recovery Mission (ARM) indicated that chickens suffered inhumane living conditions and abuse by employees. After further investigation by the Polk County sheriff's department and the United States Department of Agriculture (USDA), it was found that the farm had followed American Veterinary Medical Association (AVMA) protocols for euthanizing poultry. No confirmation of abuse was found.

According to the San Francisco Chronicle, in response to the COVID-19 pandemic, in the spring of 2020, Cal-Maine increased egg prices over 300%, from $1 to $3.44 per dozen. This triggered at least one lawsuit challenging the price jump as unjustified, since there had not been an actual supply chain interruption. The lawsuit was dismissed in August 2020.

Early in the morning of December 17, 2020, a fire destroyed two barns at Cal-Maine's Dade City, Florida facilities. The fire killed over 240,000 chickens, including 120,000 pullets; the financial loss was estimated to be over $1 million.

In 2021, Cal-Maine moved its headquarters from Jackson, Mississippi, to Ridgeland, Mississippi.

In November 2023, the company was found liable in a lawsuit alleging that it colluded, along with Rose Acre Farms, United Egg Producers, and United States Egg Marketers, to reduce the supply of eggs and increase prices between 2004 and 2008. The plaintiffs in the case, a group of large food manufacturers led by Kraft Foods, originally filed the long-running lawsuit in 2011, but it did not reach trial until October 2023.

In March 2024, Cal-Maine acquired a broiler processing plant, hatchery and feed mill in Dexter, Missouri, from the American multinational food processing corporation, Tyson Foods for an undisclosed amount. In June 2024, a group of poultry farmers filed a lawsuit against Cal-Maine and Tyson Foods, alleging that the companies had conspired to prevent a competing meatpacking company from purchasing the Dexter facility in violation of Missouri's antitrust laws.

Read the full text

Cal-Maine Foods received $44.8 million in taxpayer funded USDA Indemnity payments for exterminating flocks due to avian influenza. The birds were killed using the controversial killing method known as ventilation shutdown plus.

In 2025, watchdog journalism complained to the US federal government that Cal-Maine and other large egg producers might be engaged in profiteering and collusion from the bird flu outbreak at the expense of small farmers, which caused a national egg shortage and drove up the commodity price of eggs. This was prompted by higher profits and the fact that Cal-Maine hens had not died from bird flu. The US Department of Justice Antitrust Division began investigating Cal-Maine.

In June 2026, the Justice Department and 17 states reached a proposed settlement with Cal-Maine and two other egg producers over allegations that the companies had coordinated bids submitted to an egg-price reporting service, artificially inflating egg prices between 2022 and 2025. Under the proposed settlement, the three producers agreed collectively to pay $3.3 million and donate 53 million eggs to food banks and other nonprofit organizations. The companies did not admit wrongdoing, and the settlement remained subject to court approval.

From Wikipedia’s article on Cal-Maine, shared under CC BY-SA 4.0.7

Leadership

Who has led Cal-Maine, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (33)

Products and brands

Cal-Maine Farms, Inc.

Southern Equipment Distributors, Inc.

South Texas Applicators, Inc.

Cal-Maine Partnership, Ltd.

Read the full text

CMF of Kansas, LLCads 2004

From Wikipedia’s article on Cal-Maine, shared under CC BY-SA 4.0.7

Former names

  • CAL MAINE FOODS INCDec 3, 1996 to Mar 31, 20146

Timeline

  1. Jan 17, 2023New chief executive Sherman Miller becomes CEO18
  2. Dec 22, 2010New chief executive Adolphus B. Baker becomes CEO19
  3. Aug 27, 2003New chief executive Fred R. Adams Jr. becomes CEO20
  4. Dec 12, 1996Went public Listed on NASDAQ1
  5. 1969Founded Founded1

Recent filings

  1. Oct 8, 2026SCHEDULE 13G/A
  2. Oct 2, 20268-K
  3. Sep 30, 20268-K
  4. Sep 30, 202610-Q
  5. Sep 3, 2026SCHEDULE 13G/A
  6. Sep 3, 2026SCHEDULE 13G
  7. Sep 2, 20268-K
  8. Aug 18, 2026DEF 14A
  9. Aug 18, 2026DEFA14A
  10. Aug 18, 2026ARS
  11. Aug 18, 2026DEFA14A
  12. Aug 14, 2026SCHEDULE 13G
  13. Jul 22, 20268-K
  14. Jul 22, 202610-K FORM 10K
  15. Jun 30, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

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