CALM

EX-99.1

5 exhibit991.htm

EX-99.1

exhibit991

Press Release

Cal-Maine Foods Reports First Quarter Fiscal 2027 Results

RIDGELAND,

Miss., September

30, 2026 – Cal-Maine Foods, Inc. (Nasdaq:

CALM) (“Cal-Maine Foods,”

“we,” “us,” “our” or the “company”),

the largest egg company

in the United States and a leading

player in

the

egg-based

food

industry,

today

reported

results

for

its

first

quarter

ended August

29,

2026.

Unless

otherwise indicated,

all comparisons

are to the comparable

period of fiscal

2026.

Financial Highlights

(in thousands except per share amounts and percentages)

First Quarter

2027

2026

$ Change

% Change

Net sales

$

539,607

$

922,602

$

(382,995)

(41.5)

%

Gross profit

$

403

$

311,314

$

(310,911)

(99.9)

%

Operating

income

(loss)

$

(82,165)

$

249,184

$

(331,349)

(133.0)

%

Net income

(loss) attributable

to Cal-Maine

Foods, Inc.

$

(58,615)

$

199,340

$

(257,955)

(129.4)

%

Income (loss)

per share

- diluted

$

(1.26)

$

4.12

$

(5.38)

(130.6)

%

Strategic Execution Highlights

●

Continued

focus on

sales

diversification

and mix

shift,

expected

to strengthen

earnings

durability

and

predictability

over time

o

In the first

quarter of fiscal

2027:

◾

Prepared Foods accounted for 11.7% of net sales compared to 7.8%

◾

Combined,

Specialty

Shell

Eggs

and

Prepared

Foods

increased

to

54.1%

of

net

sales

compared to 37.1%

●

Acquired

additional

Eggland’s

Best®

franchise

territory

in

Northeast,

expanding

the

company's

distribution

footprint

and

increasing

its

Specialty

Shell

Eggs

category

penetration

across

one

of

the

nation’s

largest, highest-income

consumer markets

●

Continued

progress

on previously

announced projects

to

increase

efficiency

and production

capacity,

which are

expected to increase Prepared

Foods production

capacity more than 60%

by the first

half of

fiscal 2028, compared to fiscal 2026 year-end

Commentary

Sherman Miller,

president and chief

executive officer

of Cal-Maine

Foods, said,

“Our first-quarter

results

reflect both the current point in

the conventional shell egg cycle and

the continued evolution of Cal-Maine

Foods’ earnings

model.

Conventional

Shell Egg

pricing

remains

under

pressure

from an

industry

supply

imbalance, while underlying demand remains healthy.

At the same time, Specialty Shell Eggs and

Prepared

Foods

now

represent

approximately

54%

of

our

net

sales, demonstrating

the

progress

we

have

made

in

broadening our

business. We

remain

focused on our

foundational

Conventional Shell

Egg business

while

scaling Specialty

and Prepared Foods

and converting

the investments we

have made

into profitable growth.”

Segment Results Summary

Segment Net

Sales

(in thousands except percentages)

First Quarter

2027

2026

Volume

Change

Avg.

Price

Change

Conventional Shell Eggs

$

201,683

$

498,433

(0.7)

%

(59.3)

%

Specialty Shell Eggs

236,932

275,590

(3.8)

%

(10.7)

%

Prepared

Foods

62,995

72,368

(19.3)

%

7.9

%

Total Reportable Segments

$

501,610

$

846,391

Operating

Income (Loss)

(in thousands except percentages)

First Quarter

Operating

Margin

2027

2026

2027

2026

Conventional Shell Eggs

$

(71,045)

$

168,236

(35.2)

%

33.8

%

Specialty Shell Eggs

14,937

64,196

6.3

%

23.3

%

Prepared

Foods

7,842

13,221

12.4

%

18.3

%

Total Reportable Segments

$

(48,266)

$

245,653

(9.6)

%

29.0

%

Other - Segment

Income (Loss)

(8,374)

12,219

N/A

N/A

Unallocated

Corporate

SG&A

(24,609)

(16,072)

N/A

N/A

Gain on Involuntary

Conversion

—

7,488

N/A

N/A

Loss on

Disposal of Fixed

Assets

(916)

(104)

N/A

N/A

Operating

Income (Loss)

$

(82,165)

$

249,184

(15.2)

%

27.0

%

N/A – Not Applicable

Conventional Shell Eggs

First-quarter

performance

reflected

an

abundantly

supplied

egg

market

following

industry

layer

flock

repopulation during

fiscal

2026. The

increase

in

egg supply,

together

with

the

first quarter’s

historically

softer seasonal pricing, resulted

in substantially lower conventional shell

egg prices compared with the

prior-

year period.

Conventional Shell

Eggs sales

decreased 59.5%,

primarily

reflecting a

59.3%

decrease in

average selling

price

per

dozen,

while

volume

remained

relatively

flat.

The

effect

of

lower

market

prices

was

partially

mitigated

by hybrid

and cost-plus

pricing

arrangements

with

certain

customers.

Segment

loss

was $71.0

million, compared

with segment income

of $168.2 million

in the prior-year

period, as lower

pricing more

than offset lower outside egg purchase costs.

Specialty Shell Eggs

Specialty Shell Eggs sales decreased 14.0%, reflecting a 10.7% decrease in average selling price per dozen

and a 3.8%

decrease in volume.

The prior-year period benefited from

atypical pricing relationships between

conventional

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