Filing Flows › Cal-Maine Foods (CALM) › Q2 FY26
Cal-Maine Foods (CALM) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jan 7, 2026
Cal-Maine Foods (CALM) reported revenue of $769M for the second quarter fiscal 2026 (Q2 FY26), -19% from a year earlier and -17% from the quarter before. Operating margin was 16.1%, net earnings $103M (13.4% of revenue).
Cal-Maine Foods, Q2 FY26: revenue $769M (-19% year over year), operating margin 16.1%, net earnings $103M, operating cash flow $94.8M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $769M | -17% | -19% |
| Gross profit | $207M | -33% | -42% |
| Operating profit | $124M | -50% | -55% |
| Net earnings | $103M | -48% | -53% |
| Operating cash flow | $94.8M | -66% | -23% |
| Free cash flow | $47.9M | -79% | -48% |
What changed
Revenue was $769.5M in Q2 FY26, down 19% year over year and down 17% from the previous quarter.
Gross margin was 27.0%, down 10.3 points from a year earlier. Operating profit was $123.9M, a 16.1% margin (down 13.0 points year over year). Operating expenses grew 7% against a revenue fall of 19%. The fastest-growing cost line was Other operating costs (+81%). Net earnings were $102.8M, down 53% year over year. The effective tax rate was 24.4%.
Operating cash flow was $94.8M (down 23% year over year), 92% of net earnings. Non-cash charges added back $30.1M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $39.7M. Capital expenditures of $46.8M left free cash flow of $47.9M.
Questions
What was Cal-Maine Foods' revenue in the second quarter fiscal 2026?
Cal-Maine Foods (CALM) reported revenue of $769M for the second quarter fiscal 2026 (Q2 FY26), -19% from a year earlier and -17% from the quarter before.
Was Cal-Maine Foods profitable in the second quarter fiscal 2026?
Operating profit was $124M (16.1% of revenue) and net earnings $103M.
Source: Cal-Maine Foods 10-Q on SEC EDGAR.