Legal and regulatory exposurenegative · 1 filings
“These were partially offset by a $19.6 million reduction in litigation loss contingency accrual.”10-K · Jul 22, 2026 ↗
Cal-Maine Foods, Inc.
CALM
Market read
Cal-Maine Foods, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
What changed
- Revenue decreased 53.0% versus the comparable filing period.
Company+0.4% todayVolume comparison unavailable
Market group0 of 1 activeEgg Producers · unavailable
Disclosed network0 of 3 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- CALM's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if CALM's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
- Revenue decreased 53.0% versus the comparable filing period.
- Operating margin fell 39.4 percentage points.
- Net income decreased 90.1% versus the comparable filing period.
What would clarify the read
- CALM's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements120
Verified relationships3
Evidence supporting the case
- Operating cash flow covered net income at 1.51x in the latest annual period.
Evidence challenging the case
- Latest annual revenue changed -31.7% year over year.
- Operating margin changed -24.0 percentage points in the latest annual period.
- Net margin changed -17.8 percentage points in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 11, 2026
74.046m-16.9%12m-32.4%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-05-28$1.8B+31.7%$2.72+0.2%
2023-06-03$3.1B+77.0%$15.52+0.2%
2024-06-01$2.3B-26.1%$5.69+0.1%
2025-05-31$4.3B+83.2%$24.95+0.0%
2026-05-30$2.9B-31.7%$6.63-2.3%
What management says matters
Persistent and emerging business drivers
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
74.04+0.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for CALM. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-04-01 against the comparable filing from 2025-04-08.
OperationscautiousEvidence score -4
liquidityneutralEvidence score 0
valuationmixed
What improved
No thresholded improvement was identified.
What weakened
- Revenue decreased 53.0% versus the comparable filing period.
- Operating margin fell 39.4 percentage points.
- Net income decreased 90.1% versus the comparable filing period.
Filing receipts
“Index 28 - Processing, packaging and warehouse increased $20.7 million, as our processing costs and packing materials cost per dozen increased 5.5% which resulted in a $15.3 million increase in cost of sales, as well as an increase in the volume of eggs processed, which resulted in $3.6 million increase in cost of sales. - Egg purchases and other cost of sales decreased $303.0 million, compared to the same prior-year period, primarily due to a 35.8% decrease in the price of outside egg purchases, resulting in a $240.8 million decrease in cost of sales, and a 10.6% decrease in the volume of outside egg purchases, resulting in a $80.4 million decrease in cost of sales. - Prepared foods costs...”
“Fiscal 2025 - Farm production costs increased 4.8% primarily due to a 3.0% increase in production costs, which resulted in $23.5 million increase in cost of sales, and a 2.4% increase in egg production, resulting in an $18.9 million increase in cost of sales.”
“Our prepared foods cost of sales increased $44.8 million for the third quarter of fiscal 2026, compared to the prior-year period, primarily due to the acquisition of Echo Lake Foods.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind CALM
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
BURLBurlington Stores, Inc.supplierApr 1, 2026 ▾
“Echo Lake Foods is based in Burlington, Wisconsin and produces, packages, markets and distributes prepared foods, including waffles, pancakes, scrambled eggs, frozen cooked omelets, egg patties, toast and diced eggs.”
WMTWalmart Inc.customerJul 22, 2025 ▾
“Concentrations of credit risk with respect to receivables are limited due to our large number of customers and their dispersion across geographic areas, except that at May 31, 2025 and June 1, 2024, 28.1% and 26.8%, respectively, of our net accounts receivabl…”
Depended on by
VITLVital Farms, Inc.competitorMay 7, 2026 ▾
“We compete with large egg companies such as Cal-Maine Foods, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
CALM is currently a Leader in the organic co-movement group Egg Producers. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for CALM; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.