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Cal-Maine Foods (CALM) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 30, 2026 · Cal-Maine Foods (CALM) Q1 FY27 earnings results →

Q1 FY27 Revenue down 42% year over year to $540M · 10¢ of every $1 of revenue lost · operating margin -15.2%

Cal-Maine Foods made $540M in Q1 FY27 (-42% Y/Y): Retail $443M, Foodservice $66.2M, Industrial $24.8M. Operating margin -15.2%, net loss $56.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 30, 2026.

Revenue$540M
Year over year-42%
Operating margin-15.2%
Net earnings−$56.2M
Operating cash flow−$101M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $539.6M in Q1 FY27, down 42% year over year and down 2% from the previous quarter. Retail was the largest line at 82% of revenue. Retail lost $287.7M year over year (down 39%), 75% of the total change.

Gross margin was 0.1%, down 33.7 points from Q1 FY26. Operating costs exceeded revenue by $82.2M, an operating margin of -15.2%. Operating expenses grew 33% against a revenue fall of 42%. The quarter ended with a net loss of $56.2M, wider than the previous quarter's $35.0M loss.

Operating cash flow was −$101.4M. Non-cash charges added back $33.5M of depreciation and amortization. Working capital and other items used $78.7M. Capital expenditures of $26.6M exceeded it, leaving free cash flow of −$128.0M.

Quarterly history

Cal-Maine Foods revenue by quarterCal-Maine Foods revenue by quarter$1.4BQ3 FY25$1.1BQ4 FY25$923MQ1 FY26$769MQ2 FY26$667MQ3 FY26$553MQ4 FY26$540MQ1 FY27
Cal-Maine Foods net earnings by quarterCal-Maine Foods net earnings by quarter$508MQ3 FY25$342MQ4 FY25$199MQ1 FY26$103MQ2 FY26$51.1MQ3 FY26−$35.0MQ4 FY26−$56.2MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 30, 2026$540M-42%-15.2%−$56.2M−$101M
Q4 FY2610-KJul 22, 2026$553M-50%-10.6%−$35.0M$2.8M
Q3 FY2610-QApr 1, 2026$667M-53%5.4%$51.1M$104M
Q2 FY2610-QJan 7, 2026$769M-19%16.1%$103M$94.8M
Q1 FY2610-QOct 1, 2025$923M+17%27.0%$199M$279M
Q4 FY2510-KJul 22, 2025$1.1B+72%39.5%$342M$413M
Q3 FY2510-QApr 8, 2025$1.4B+102%44.8%$508M$572M

Charts

Cal-Maine Foods: revenue growth, year over year and quarter over quarterCal-Maine Foods: revenue growth, year over year and quarter over quarterY/YQ/Q+102%Q3 FY25+72%-22%Q4 FY25+17%-16%Q1 FY26-19%-17%Q2 FY26-53%-13%Q3 FY26-50%-17%Q4 FY26-42%-2%Q1 FY27
Latest (Q1 FY27): Y/Y -42%, Q/Q -2%.
Cal-Maine Foods: where the cash came from (+) and went (−), TTM to Q1 FY27Cal-Maine Foods: where the cash came from (+) and went (−), TTM to Q1 FY27Other investing$301MAcquisitions−$153MCash drawn (+) / kept (−)$137MOther financing−$136MCapital spending−$133MDividends−$117MOperating cash flow$99.8MAsset & business sales$308K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Cal-Maine Foods: profit against cash, quarter by quarterCal-Maine Foods: profit against cash, quarter by quarterNet incomeOperating cash flow$218M$123MQ2 FY25$508M$572MQ3 FY25$342M$413MQ4 FY25$199M$279MQ1 FY26$103M$94.8MQ2 FY26$51.1M$104MQ3 FY26−$35.0M$2.8MQ4 FY26−$56.2M−$101MQ1 FY27
Latest (Q1 FY27): Net income −$56.2M, Operating cash flow −$101M.
Cal-Maine Foods: diluted shares by fiscal yearCal-Maine Foods: diluted shares by fiscal year49MFY2149MFY2249MFY2349MFY2449MFY2548MFY26
-1.8% since FY21: buybacks shrank the count.

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⚖️Fair value by methodinteractive

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📈Investments: gains and what it boughtinteractive

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Customers and suppliers named in filings

Sells to

Cal-Maine Foods against its Agricultural Prod-Livestock & Animal Specialties peers

The largest companies of the same SEC industry, each at its latest quarter.

CompanyQuarterRevenueY/YOp. margin
CALM Cal-Maine FoodsQ1 FY27$540M-42%-15.2%
NCRA NoceraQ2 2026$2.1M-29%-54.9%

Source: Cal-Maine Foods 10-Q on SEC EDGAR · CIK 16160 · Agricultural Prod-Livestock & Animal Specialties

13F: who owns CALM and who is buying

Largest holders of CALM (13F)Largest holders of CALM (13F)BlackRock$557MVanguard Group$393MVanguard Portfolio Management LLC$229MDimensional Fund Advisors LP$221MAmerican Century Companies$203MVanguard Capital Management LLC$153MState Street$144MRenaissance Technologies LLC$126MFirst Trust Advisors LP$103MBoston Partners$102M
Funds' net buying of CALM by quarter (13F)Funds' net buying of CALM by quarter (13F)−$58.8M2024-09−$41.1M2024-12$294M2025-03$244M2025-06−$146M2025-09−$38.1M2025-12−$67.0M2026-03$40.1M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CALM

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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