Cal-Maine Foods (CALM) swings to a loss as egg prices crater 70.9%
As seen on the 24/7 Wall St. homepage on July 22, 2026.
Cal-Maine Foods swung to a $0.76 loss as conventional egg prices collapsed 70.9% amid industry oversupply, but management just watched prices rebound 90% in recent weeks and is betting that marks the bottom. The company is accelerating a shift toward specialty and prepared foods, which now account for 53% of sales, backed by a $54 million capacity expansion.
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Cal-Maine Foods reported a Q4 2026 EPS of negative $0.76, badly missing the $0.11 consensus estimate, as conventional egg prices collapsed 70.9% amid widespread industry oversupply. Revenue came in at $552.6 million, roughly 2% below the $563.8 million analysts had expected. The result marks a sharp reversal from the prior four quarters, when the company had consistently beaten estimates and posted EPS as high as $10.39.
Management pointed to a potential turning point, noting that egg prices have rebounded roughly 90% in recent weeks and signaling that they view this as the bottom of the cycle. The company is not standing still during the downturn: specialty and prepared food products now account for 53% of sales, and Cal-Maine is backing that shift with a $54 million capacity expansion intended to reduce its dependence on commodity conventional eggs.
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The earnings history tells the broader story of a business that rode an extraordinary run of elevated egg prices through fiscal 2025 and into early 2026, then saw conditions deteriorate rapidly. Whether the recent price rebound holds will be the key variable to watch in the quarters ahead.
Mentioned: CALM