Cal-maine Foods, Inc. · NASDAQ:CALM
Cal-maine Foods — Q2 2026 Earnings Presentation
11 slides from Cal-maine Foods's earnings presentation, Jan 7, 2026
Slide 1: Cal-Maine Foods Reports Second Quarter Fiscal 2026 Results
Cal-Maine Foods Reports Second Quarter Fiscal 2026 Results NASDAQ: CALM | January 7, 2026
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains numerous forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”) relating to our business, including, potential futur
Slide 3: Strategic Priorities Position Cal-Maine Foods for Durable, Profitable Growth
Strategic Priorities Position Cal-Maine Foods for Durable, Profitable Growth Growth Acceleration Resilience Expand Specialty Eggs + Pursue disciplined, Leverage scale, vertical Prepared Foods accretive M&A & strategic integration, and organic investments operational & financial excellence 3
Slide 4: Second Quarter and First Half Fiscal 2026 Highlights
Second Quarter and First Half Fiscal 2026 Highlights "Despite the impact of eggs prices, Net Sales Gross Profit Operating Income we believe our performance in the second quarter and first half of the fiscal year demonstrates Q2 FY26 H1 FY26 Q2 FY26 H1 FY26 Q2 FY26 H1 FY26 strength and momentum. With
Slide 5: Prepared Foods Grew to 46% of Net Sales
Strengthening Earnings Durability & Predictability Specialty Eggs + Prepared Foods Specialty Eggs + Growth Engines & Diversification (% net sales) Prepared Foods 4% Grew to 46% of 6% Net Sales in Q2 FY26 47% 65% +1,520 bps 46% 31% Q2 FY25 Q2 FY26 Specialty Eggs + Prepared Foods Conventional Eggs Egg
Slide 6: Specialty Eggs Expanded to 44% of Shell Egg Sales
Strengthening Earnings Durability & Predictability Mix Shift Towards Specialty Eggs (% shell egg sales) Specialty Eggs Expanded to 44% of Shell Egg Sales in Q2 FY26 56% 68% +1,230 bps 44% 32% Q2 FY25 Q2 FY26 Specialty Eggs Conventional Eggs 6
Slide 7: Investing to Expand Prepared Foods Capabilities
Investing to Expand Prepared Foods Capabilities 17mm 12mm 18mm +30% lbs lbs lbs over Launched a $15 Builds on our Scaling our joint 18-24 million network previously venture, Crepini optimization and announced $14.8 Foods, which is months capacity million high- investing $7 expansion speed pancake mi
Slide 8: Balanced Capital Allocation for Long-Term Value Creation
Balanced Capital Allocation for Long-Term Value Creation Q2 FY26 H1 FY26 TTM Q2 FY26 $23.7 11% $180.5 $303.7 $66.4 32% 28% 29% $423.1 $46.8 $299.0 41% 22% 46% $74.9 12% $187.8 $74.8 $92.1 18% $128.8 35% 14% 12% Dividends Repurchases CapEx M&A “We repurchased 846,037 shares of our common stock during
Slide 9: Five Levers of Total Shareholder Returns
Five Levers of Total Shareholder Returns TSR = Share Multiple Dividends + + EPS Growth + Mix Uplift + Repurchases Expansion One-third of GAAP Opportunistic Volume expansion, Higher-margin Growth execution + net income → buybacks under efficiency gains, Specialty Eggs + improved steady base layer $50
Slide 10: Cal-Maine Foods: A Rare Combination of Value + Growth
Cal-Maine Foods: A Rare Combination of Value + Growth Stability & Returns Expansion & Upside • Disciplined Capital • Specialty Eggs + Stewardship The Cal-Maine Prepared Foods Growth Value Advantage Growth Engines • Balance Sheet Strength • Robust Operating Cash Flow Attributes Attributes • Accretive
Slide 11: Cal-Maine Foods, Inc.
Cal-Maine Foods, Inc. 1052 Highland Colony Parkway, Suite 200 Ridgeland, Mississippi 39157 601-948-6813 ir@cmfoods.com