Financial Performance - For the fiscal year ending June 1, 2024, net income attributable to Cal-Maine Foods, Inc. was $277.888 million, a decrease from $758.024 million in the previous fiscal year, representing a decline of approximately 63.4%[12]. - Basic net income per common share for fiscal 2024 was $5.70, down from $15.58 in fiscal 2023, indicating a decrease of about 63.4%[12]. - Total net revenue for fiscal 2024 was $2.326 billion, a decrease from $3.146 billion in fiscal 2023, representing a decline of approximately 26.0%[65]. - The company reported a gross profit margin of 23.3% for fiscal 2024, down from 38.0% in fiscal 2023[145]. - Operating income fell to $312.5 million in fiscal 2024, down from $967.7 million in fiscal 2023, indicating a decline of approximately 67.7%[152]. - The company reported a basic net income per share of $5.70 for the fiscal year ending June 1, 2024, down from $15.58 in the previous year[199]. - Comprehensive income attributable to Cal-Maine Foods, Inc. was $279,001 for the fiscal year ending June 1, 2024, compared to $756,734 in the prior year, indicating a substantial decline[202]. Sales and Revenue Composition - Cage-free egg revenue represented approximately 29.5% of total net shell egg sales for fiscal year 2024[31]. - Specialty eggs, including cage-free, organic, and free-range, are a significant and growing segment, with total specialty egg sales accounting for 39.8% of revenue in 2024[33]. - Egg product sales constituted approximately 3.8% of total revenue in fiscal 2024[32]. - Specialty shell egg sales accounted for 41.4% of total net sales in fiscal 2024, compared to 31.6% in fiscal 2023, indicating a shift towards higher-margin products[147]. - The average net selling price of shell eggs decreased by 34% in fiscal 2024 compared to fiscal 2023, with the average UB southeastern large index price at $1.932[143]. Production and Capacity - The total flock as of June 1, 2024, consisted of approximately 39.9 million layers and 11.8 million pullets and breeders[25]. - The company has a production capacity of up to 48.0 million layers across 43 shell egg production facilities[123]. - The company operates 26 feed mills with a production capacity of 949 tons of feed per hour[123]. - The company has 44 processing and packaging facilities with a capacity of approximately 605,700 dozen shell eggs per hour[123]. - The company has ongoing construction projects aimed at expanding its cage-free egg production capabilities, expected to phase into production through fiscal 2026[124]. Market and Competitive Landscape - The company sold shell eggs and egg products in 39 states and Puerto Rico, utilizing an extensive distribution network[46]. - The ten largest producers owned approximately 54% of industry table egg layer hens at the end of 2023[48]. - Fresh shell eggs accounted for 96.1% to 96.6% of the company's net sales over the last three fiscal years, indicating a highly competitive market[103]. - Increased competition in the shell egg market could lead to price reductions and loss of market share, negatively impacting financial results[103]. Legal and Regulatory Matters - The company is involved in ongoing legal proceedings related to alleged violations of the Texas Deceptive Trade Practices Act, with a trial date tentatively set for August 11, 2025[16]. - The jury awarded the Egg Products Plaintiffs $17.8 million in damages, which could lead to a total liability of $53.3 million if treble damages are applied[72]. - The Company recorded an accrued expense of $19.6 million in selling, general and administrative expenses related to the Egg Products litigation[72]. - The court found the defendants liable for state law nuisance and federal common law nuisance in the Oklahoma Watershed Pollution Litigation, but no penalties were assessed[73]. - The Company has a reasonable possibility of a material loss from the Oklahoma litigation, but the monetary exposure cannot be estimated at this time[73]. Employee and Labor Matters - As of June 1, 2024, the company employed 3,067 individuals, with 2,370 in egg production, processing, and marketing[52]. - Approximately 76% of employees are paid at hourly rates above the federal minimum wage, with the company covering about 82% of health plan costs[55]. - Approximately 76% of the company's employees are paid at hourly rates, often in entry-level positions, which could lead to increased labor costs due to rising minimum wage requirements[105]. - Labor costs increased primarily due to the pandemic, with continued wage rises expected in fiscal 2023 and 2024 due to inflation and low unemployment[105]. Financial Position and Capital Management - The company aims to maintain a strong balance sheet and liquidity to support growth opportunities and stockholder returns, focusing on dividends, acquisitions, and capital expenditures[153]. - Working capital increased to $1.0 billion as of June 1, 2024, compared to $942.2 million at June 3, 2023, while the current ratio decreased to 5.5 from 6.2[160]. - The company has a Credit Facility with an initial aggregate principal amount of up to $250 million, with no amounts borrowed as of June 1, 2024[90]. - The company has a maximum Total Funded Debt to Capitalization Ratio of no greater than 50% as per the Credit Agreement[90]. Risks and Challenges - Consumer demand for shell eggs may decline due to adverse publicity and changing dietary trends, which could materially affect future financial results[94]. - Feed costs represent 55% to 63% of total farm production costs over the last five fiscal years, and volatility in these costs can adversely impact operations and cash flow[94]. - The company experienced HPAI outbreaks leading to the depopulation of 3.1 million laying hens and 577,000 pullets, which could negatively impact financial results if such outbreaks continue[96]. - Global health crises, such as pandemics, could disrupt operations and adversely affect financial results due to increased costs and supply chain disruptions[101]. - Legal proceedings may expose the company to significant liabilities, adversely affecting business reputation and financial condition[110]. Corporate Governance and Management - The company is controlled by the family of the late founder, holding approximately 52.0% of the total voting power, which may affect corporate governance and decision-making[105]. - The company has a crisis management plan in place to respond to cybersecurity incidents, ensuring minimal disruption to operations[114]. - The company is governed by a Board responsible for overseeing management's risk mitigation processes related to cybersecurity threats[120]. Acquisitions and Growth Strategy - The growth strategy focuses on strategic acquisitions, organic growth, and expansion of value-added products, including hard-cooked eggs[50]. - The Company acquired assets of ISE America, Inc. for approximately $110 million, which includes facilities for 4.7 million laying hens and a customer distribution network across the Northeast and Mid-Atlantic states[76]. - The company completed the acquisition of Fassio Egg Farms, Inc. in September 2023, enhancing its market presence in Utah and the western U.S.[138]. - The company plans to pursue selective acquisitions to expand cage-free shell egg production capabilities, which may involve risks related to demand estimation and integration[101].

Exhibit 99.1 Contacts: Sherman Miller, President and CEO Max P. Bowman, Vice President and CFO (601) 948-6813 CAL-MAINE FOODS REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL 2024 RIDGELAND, Miss. (July 23, 2024) - Cal-Maine Foods,Inc. (NASDAQ: CALM) ("Cal-MaineFoods" or the "Company"), the largest producer and distributor of fresh shell eggs in the United States, today reported results for the fourth quarter of fiscal 2024 (thirteen weeks) and fiscal year 2024 (fifty-two weeks) ended June 1, 2024. Fourth Quar ...

Keep reading if you want a detailed review of the performance of these three stocks this year and the factors that have contributed to making them stocks sell immediately. Cal-Maine Foods (NASDAQ:CALM) is the largest producer and supplier of fresh shell eggs in the U.S. The company almost monopolizes the egg-supplying and producing business, evident from its domination across midwestern, southeastern, and southwestern states in America. Unsurprisingly, these regions account for nearly a quarter of the entir ...

Core Viewpoint - Cal-Maine Foods (CALM) has received an upgrade to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, indicating a positive earnings outlook that could lead to increased stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based solely on a company's changing earnings picture, which is a significant factor influencing stock prices [2][4]. - A strong correlation exists between changes in earnings estimates and near-term stock price movements, largely driven by institutional investors who adjust their valuations based on these estimates [4][6]. Cal-Maine's Earnings Outlook - For the fiscal year ending May 2024, Cal-Maine is expected to earn $4.51 per share, reflecting a year-over-year decline of 70.9% [8]. - Over the past three months, the Zacks Consensus Estimate for Cal-Maine has increased by 25.7%, indicating a positive trend in earnings estimates [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Cal-Maine to a Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for price appreciation in the near term [11].

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Cal-Maine Foods (CALM) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question. Cal-Maine Foods is one of 240 companies in the Basic Materials group. The Basic Mate ...

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Cal-Maine Foods (CALM) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.Cal-Maine Foods is a member of the Basic Materials sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank ...

U.S. stock markets have retreated in April after a sharp rally in the past 15 months. The euphoria surrounding equities evaporated as the yield on the benchmark 10-Year U.S. Treasury Note returned northward, trading above 4%. In the first week of April, the Dow tumbled 2.3%, posting its worst weekly performance in 2024. The S&P 500 slid 1% during the period, while the Nasdaq Composite fell 0.8%.This was primarily owing to the uncertainty regarding the time when the Fed would initiate the first cut in the be ...

Key PointsCal-Maine Foods is the nation's largest fresh egg producer and distributor, with an estimated 19% market share.Cal-Maine reported a fiscal Q3 2024 EPS beat by 55 cents despite revenues falling 29.5% due to bird flu disruptions in egg supply.Cal-Maine shares trade at just 13.6X forward earnings with a $1.00 special dividend payable on May 16, 2024, for shareholders on record as of May 1, 2024.5 stocks we like better than Cal-Maine FoodsCal-Maine Foods Inc. NASDAQ: CALM is the largest and leading pr ...

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Cal-Maine Foods (CALM) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.Cal-Maine Foods is a member of our Basic Materials group, which includes 240 different companies and currently sits at #12 in the Zacks Sector Rank. The Zacks Sector Ran ...

From a technical perspective, Cal-Maine Foods (CALM) is looking like an interesting pick, as it just reached a key level of support. CALM recently overtook the 20-day moving average, and this suggests a short-term bullish trend.The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.Like ...