Cal-Maine Foods revenue falls 32% as egg prices normalize; faces new antitrust litigation

Filed July 22, 2026 · Period ending May 30, 2026 · Compared to 10-K Jul 22, 2025 · ~2 min read

Key Changes

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  Revenue fell 31.7% to $2.9B and operating income dropped 77% to $350.2M as egg prices normalized following the prior year's HPAI-driven spike. Net average selling price per dozen declined from $3.13 to levels closer to historical norms.

  MD&A: Financial Results verify on EDGAR →
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  Multiple class actions filed since November 2025 allege price-fixing conspiracy among egg producers during the 2022 avian flu outbreak, including manipulation of industry benchmarks and coordinated supply restrictions. Litigation is ongoing with no disclosed reserves.

  Notes: Shell-Egg Antitrust Litigation verify on EDGAR →
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  Company settled DOJ and 17-state antitrust investigation in June 2026 without fines or admitting wrongdoing, agreeing to donate 30 million eggs and pay $1.5M to states. Washington state investigation continues.

  Notes: DOJ/State Settlement verify on EDGAR →