Cal-Maine Sales Nearly Double, Income Quadruples, Thanks to Egg Prices

Remember how eggs hit record prices early this year? The finances at the country’s biggest egg marketer set records, too.

Cal-Maine Foods’ fiscal 2025 sales nearly doubled, from $2.3 billion in FY24 to nearly $4.3 billion in FY25 (its fiscal year ends May 31). Net income quadrupled, from $278 million in FY24 to $1.22 billion in FY25 – that was nearly $25 per share. Both are company records.

“The higher net sales were primarily driven by an increase in the net average selling price of shell eggs and also reflected higher volumes sold,” the company said in its FY25 full year report on July 22. “The higher market prices were a direct result of the reduced supply of shell eggs … due to outbreaks of highly pathogenic avian influenza during a period of high demand for eggs and egg products around the Easter holiday.”

In the fourth quarter, which included Easter, the average selling price for eggs was $3.305 per dozen, compared with $2.133 per dozen the year before. Despite the price, Cal-Maine sold 9% more shell eggs in that quarter, 311.4 million dozen. In that quarter, conventional egg volume grew 5% but specialty eggs, which included cage-free ones, grew 16%. For the year, conventional eggs represented 63% of sales to specialty eggs’ 37%.

In addition to selling eggs, the company has been growing its value-added offerings. After that fiscal year closed, it closed its acquisition of Echo Lake Foods, a Burlington, Wis., company that makes ready-to-eat egg products and breakfast foods, including waffles, pancakes, scrambled eggs, frozen cooked omelets, egg patties, toast and diced eggs.

In our Top 100© report, which was just completed, Cal Maine had the biggest increase among the 100 companies in all food & beverage categories.

We’re not implying any connection, but Cal-Maine revealed in its previous/third quarter report it’s being investigated by the Dept. of Justice in connection with antitrust or anticompetitive conduct.