Cal-Maine Foods Q3 Net Sales Slide 53%, Prepared Foods Up 441%
Cal-Maine Foods posted fiscal Q3 net sales of $667 million, down 53%, and diluted EPS of $1.06, down 89.8%, while prepared foods revenue climbed 441% to $63.6 million. The company increased specialty eggs to 50.5% of shell egg sales and acquired Creighton Brothers assets to strengthen its integrated value chain.
1. Third Quarter Financial Results
Net sales in the third quarter were $667.0 million, a 53.0% decline year-over-year. Conventional egg sales dropped 72.1% to $283.2 million, specialty egg sales fell 12.1% to $289.1 million, and diluted EPS decreased 89.8% to $1.06.
2. Product Mix Shift and Prepared Foods Growth
Specialty eggs rose to 50.5% of shell egg sales, up 2,610 basis points, and prepared foods accounted for 9.5% of net sales, a 441.2% increase to $63.6 million, driven by higher volume and asset contributions. Layer hens grew 2.0% and chicks hatched rose 41.7%.
3. Acquisition of Creighton Brothers Assets
Subsequent to the quarter, Cal-Maine Foods acquired assets of Creighton Brothers LLC, expanding its shell egg platform and internal egg-based ingredient sourcing. The move is designed to enhance supply security, operational efficiency, and prepared foods economics by integrating production and processing across the value chain.
4. Board Appointment
The board appointed Dudley D. Wooley, CEO of Ross & Yerger Insurance, to strengthen risk management and strategic governance expertise. With over three decades of experience and certifications in risk and insurance, he will support the company’s diversification and earnings visibility objectives.