Cal-Maine Foods(US:CALM)2025-06-27 12:15Company Overview - Cal-Maine Foods is the 1 shell egg producer and distributor in the U S with ~21% shell egg market share[11] - The company sold 115 billion dozens of eggs in fiscal year 2023[13] - Cal-Maine Foods' revenue was $315 billion and EBITDA was $107 billion in fiscal year 2023[13] Financial Performance and Volume Sales - In Q4 2023, Cal-Maine Foods' revenue was $689 million and EBITDA was $165 million[30] - The net average selling price (NASP) per dozen in Q4 2023 was $221[30] - Cal-Maine Foods' shell egg volume sales grew by 6% in fiscal year 2023, while the industry faced an overall 1% decline[36] Production and Costs - The company's produced-to-sold ratio improved to 92% in FY23 from 84% in FY19[62] - USDA estimates that '23/24 U S corn planted acreage increased to ~941 million, up ~6%, vs prior year[94] - Cal-Maine Foods has committed $699 million to expand cage-free production capabilities since 2008[81] Market Trends and Strategy - Approximately 96% of U S households purchase shell eggs and egg products[48] - 10 U S states have passed cage-free legislation or regulation for implementation by 2026[110] - Cal-Maine Foods aims to align sales, maintain a nimble cage-free posture, and deploy capital commensurate with anticipated customer demand[119]