Cal-Maine Foods, Inc.
- Open
- 79.77
- Day high
- 80.70
- Day low
- 78.64
- Prev close
- 80.21
- Volume
- 1.2M
- Mkt cap
- $3.7B
- P/E (TTM)
- 12.0
- EPS (TTM)
- $6.58
- P/B
- 1.4
- P/S
- 1.3
- Yield
- 3.11%
- Per share
- $2.46
Cal-Maine Foods, Inc. (CALM) is a Consumer Defensive company listed on NASDAQ. The stock is down 31% over the past year. Drillr has 3 published research articles covering CALM.
Cal-Maine Foods, Inc. (CALM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CALM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 1, 2026 | $0.70 | $1.06 | +52.3% | $667M | +3.8% |
| Jan 7, 2026 | $1.75 | $2.13 | +21.7% | $769M | -12.9% |
| Oct 1, 2025 | $5.01 | $4.12 | -17.8% | $923M | -6.3% |
| Jul 22, 2025 | $3.81 | $7.04 | +84.6% | $1.1B | +23.9% |
| Apr 8, 2025 | $10.56 | $10.38 | -1.7% | $1.4B | -1.7% |
| Jan 7, 2025 | $3.68 | $4.47 | +21.5% | $955M | +38.5% |
| Oct 1, 2024 | $2.33 | $3.06 | +31.3% | $786M | +11.5% |
| Jul 23, 2024 | $1.85 | $2.32 | +25.4% | $641M | +5.3% |
| Apr 2, 2024 | $2.46 | $2.37 | -3.7% | $703M | +1.5% |
| Jan 3, 2024 | $0.83 | $0.35 | -57.8% | $523M | -0.4% |
| Oct 3, 2023 | $0.33 | $0.02 | -93.9% | $459M | -4.2% |
| Jul 25, 2023 | $2.15 | $2.27 | +5.6% | $689M | +13.8% |
CALM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | Highfield Michael Jdirector: OUTSIDE DIRECTOR | Grant | 1,301 | — |
| Jun 24, 2026 | FISACKERLY HALEYdirector | Grant | 1,301 | — |
| Apr 20, 2026 | Wooley Dudley Ddirector: OUTSIDE DIRECTOR | Grant | 1,284 | — |
| Jan 14, 2026 | Lombardo Keira Lofficer: Chief Strategy Officer | Grant | 1,310 | — |
| Jan 14, 2026 | BOWMAN MAX Pdirector, officer: Vice President, CFO, Sec/Treas | Tax | 903 | $72.44 |
| Jan 14, 2026 | Boulden Melaniedirector | Grant | 1,310 | — |
| Jan 14, 2026 | BAKER ADOLPHUS Bdirector, officer: Board Chair | Grant | 1,310 | — |
| Jan 14, 2026 | Miller Shermandirector, officer: PRESIDENT & CEO | Tax | 1,097 | $72.44 |
| Jan 14, 2026 | Holladay Robert L Jrofficer: VP - General Counsel | Grant | 2,176 | — |
| Jan 14, 2026 | HUGHES LETITIA CALLENDERdirector | Grant | 1,310 | — |
| Jan 14, 2026 | Hull Scott Danielofficer: Vice President - Sales | Tax | 463 | $72.44 |
| Jan 14, 2026 | Miller Shermandirector, officer: PRESIDENT & CEO | Grant | 4,097 | — |
| Jan 14, 2026 | BOWMAN MAX Pdirector, officer: Vice President, CFO, Sec/Treas | Grant | 2,432 | — |
| Jan 14, 2026 | Glover Matthew Samuelofficer: Vice President - Accounting | Tax | 455 | $72.44 |
| Jan 14, 2026 | Glover Matthew Samuelofficer: Vice President - Accounting | Grant | 784 | — |
Source: CALM SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full CALM insider & 13F page →CALM research & analysis
Novorossiysk Grain Terminal Outage Raises Feed Cost Risk
A four-month outage at Russia's 7.1mtpa NKHP terminal may redirect wheat flows and raise unhedged feed and flour costs.
FLOPPCNovorossiysk Grain Terminal Outage: Feed Cost Risk for PPC and CALM
Repairs at Novorossiysk's NKHP terminal may take four months, subtracting about 2.4 million tonnes of loading capacity and raising feed and flour costs at largely unhedged converters.
FLOPPCJBS (JBS), Smithfield (SFD): Protein Substitution Stops Working
Record beef, pork and chicken price gaps moved no volume between the three categories this quarter, and discounts stopped lifting sales, JBS, Tyson and Smithfield told investors.
BRFSJBSPPC
Cal-Maine Foods, Inc. company profile
Overview
Cal-Maine Foods, Inc. (NASDAQ:CALM) is the largest producer and distributor of shell eggs in the United States, founded in 1957 and headquartered in Ridgeland, Mississippi. The company went public in 1996 and has grown through both organic expansion and strategic acquisitions to become the dominant player in the American egg industry. Cal-Maine operates production facilities across multiple regions of the United States and has built a diversified portfolio of egg products ranging from conventional shell eggs to specialty varieties including organic, cage-free, and nutritionally enhanced options.
Business
Cal-Maine Foods operates in the agricultural food production industry, specifically focusing on the production, processing, and distribution of shell eggs. The company's core business involves raising laying hens, collecting and processing their eggs, and distributing these products to retailers and foodservice operators across the United States. The shell egg industry is a critical component of the broader agricultural sector, providing a staple protein source consumed by millions of Americans daily. Shell eggs differ from liquid or powdered egg products in that they are sold in their natural form within the protective shell, requiring careful handling and temperature control throughout the supply chain. Cal-Maine's product portfolio includes several categories: Conventional shell eggs represent the traditional white and brown eggs that make up the majority of consumer purchases. Specialty shell eggs include cage-free eggs (from hens not confined to battery cages), organic eggs (from hens fed organic feed and raised according to USDA organic standards), and nutritionally enhanced eggs (fortified with omega-3 fatty acids or other nutrients). The company markets these products under both proprietary brand names such as Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain, as well as private label arrangements with major retailers. While specific revenue breakdowns by product category are not publicly disclosed, the specialty egg segment has been growing rapidly due to consumer demand for perceived healthier and more ethically produced options, though conventional eggs still represent the majority of volume and likely revenue for the company.
Revenue model
Cal-Maine Foods generates revenue primarily through the direct sale of shell eggs to customers including national and regional grocery chains, club stores like Costco and Sam's Club, independent supermarkets, and foodservice distributors. The company operates on a product sales business model, earning revenue when eggs are delivered to customers, typically with payment terms of 30 days or less. The company's customers are primarily large-scale buyers who purchase eggs in bulk for resale to consumers or for use in foodservice operations. Major grocery chains represent the largest customer segment, as they require consistent, high-volume supply to stock their dairy sections nationwide. The foodservice segment includes distributors who supply restaurants, hotels, schools, and other institutions that use eggs as ingredients. Cal-Maine's profitability is highly sensitive to several key factors. Feed costs represent the largest input expense, as corn and soybean meal prices directly impact production costs. When commodity grain prices rise due to weather, export demand, or other factors, margins compress significantly. Egg pricing cycles are influenced by supply and demand dynamics, including seasonal consumption patterns, competing protein prices, and industry capacity utilization. Disease outbreaks such as avian influenza can dramatically reduce industry supply, leading to sharp price increases that benefit surviving producers like Cal-Maine. Regulatory changes regarding animal welfare standards can increase production costs but also create barriers to entry that protect established players. Consumer preferences shifting toward specialty eggs command premium pricing but require different production methods and higher costs. Energy costs for climate-controlled facilities and transportation also impact margins, as eggs require refrigeration throughout the supply chain.
Competitive moat
Cal-Maine Foods possesses a moderately strong competitive moat built primarily on scale advantages and operational expertise in a commodity-like business. The company's scale benefits provide cost advantages through bulk purchasing of feed, more efficient distribution networks, and the ability to absorb fixed costs across a large production base. As the largest egg producer in the United States, Cal-Maine can negotiate better terms with suppliers and customers while maintaining more consistent supply during market disruptions. The company's geographic diversification across multiple regions provides some protection against localized disease outbreaks or weather events that could devastate smaller, concentrated operations. This geographic spread also allows Cal-Maine to serve customers more efficiently with shorter transportation distances and reduced logistics costs. Brand recognition in specialty egg categories, particularly through the Egg-Land's Best brand, provides some differentiation and pricing power compared to generic private label products. However, this advantage is limited as eggs remain largely a commodity purchase for most consumers. The moat faces several challenges. Low barriers to entry mean new competitors can enter the market relatively easily, though achieving scale takes time. Commodity nature of the core product limits pricing power and customer loyalty. Regulatory risks around animal welfare could force costly facility upgrades industry-wide. Alternative proteins including plant-based egg substitutes represent a potential long-term disruption, though adoption remains limited. Vertical integration by large food companies or retailers could reduce demand for Cal-Maine's services. The company's moat is sufficient to maintain market leadership but not strong enough to guarantee long-term exceptional returns.
Risks & safety
Cal-Maine Foods demonstrates a strong financial position with substantial margin of safety: • Zero debt: The company maintains a debt-free balance sheet with a debt-to-equity ratio of 0.0, eliminating solvency risk and providing maximum financial flexibility. • Strong cash position: With $497 million in cash and short-term investments as of Q3 2025, representing over 16% of total assets, the company has ample liquidity for operations and growth investments. • Excellent liquidity ratios: Current ratio of 3.86 and quick ratio of 3.26 indicate strong ability to meet short-term obligations. • Positive cash generation: Free cash flow of $522 million in the most recent quarter demonstrates strong cash-generating ability. • Attractive valuation metrics: Trading at a P/E ratio of 2.17 and EV/EBITDA of 1.48 based on recent results, suggesting significant undervaluation relative to earnings power. • Cyclical considerations: Current strong profitability reflects favorable industry conditions with elevated egg prices; margins will likely compress when supply normalizes, requiring assessment of normalized earning power rather than peak cycle metrics.
Recent development
Based on available financial data, Cal-Maine Foods has experienced significant operational developments over the past few years, though specific strategic initiatives are not detailed in the provided earnings summaries. The most notable development has been the company's financial performance during a period of elevated egg prices, likely driven by industry supply disruptions from avian influenza outbreaks that reduced competitor capacity. The company's revenue has shown substantial volatility, ranging from $640 million in Q4 2024 to over $1.4 billion in Q3 2025, reflecting the cyclical nature of egg pricing. This dramatic increase suggests Cal-Maine has benefited significantly from reduced industry supply and corresponding price increases. The company's profitability has similarly fluctuated, with net income margins expanding dramatically during periods of favorable pricing. Cal-Maine appears to have maintained operational discipline during this favorable cycle, generating substantial cash flows while maintaining its debt-free balance sheet. The company's ability to scale production and capture market share during supply disruptions demonstrates the operational flexibility that comes with being the industry leader. However, without detailed earnings call transcripts, specific strategic initiatives regarding facility expansion, technology investments, or new product development cannot be determined from the financial data alone.
CALM company profile · for informational purposes only — not investment advice.
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