Cal-Maine Foods, the largest distributor of fresh shell eggs in the United States, more than doubled its revenue in fiscal 2025 as egg prices surged and production expanded to meet strong consumer demand.
The company reported full-year sales of $4.3 billion, up 87% from $2.3 billion the previous year. Annual net income jumped 332% to $1.2 billion, compared with $277.9 million in fiscal 2024.
Fourth-quarter results capped off the record year. Sales rose 72% to $1.1 billion, up from $640.8 million in the same period last year. Quarterly net income climbed to $342.5 million, up from $113.2 million—a 202% increase.
Strong demand, especially around the Easter holiday, and a reduced national egg supply due to ongoing outbreaks of avian influenza helped push prices higher. The company’s average selling price per dozen eggs reached $3.31 in the fourth quarter, up from $2.13 a year earlier. For the full year, prices averaged $3.13 per dozen, compared to $1.93 in fiscal 2024.
Egg volumes also rose. Cal-Maine sold 1.28 billion dozen eggs over the year, a 12% increase. Specialty eggs—cage-free, organic, and other premium varieties—grew 17% to 470.2 million dozen, reflecting both consumer preference and increased capacity.
To keep up with demand and address national supply shortages, Cal-Maine expanded its production footprint. The number of laying hens rose 18% year over year in the fourth quarter, while the number of chicks hatched grew 56%. The company also reported a 48% increase in its breeder flock.
“We ended a transformational year with strong performance,” said CEO Sherman Miller in a statement. “We’ve expanded our operations, grown our product mix, and stayed disciplined in a volatile environment.”
Cal-Maine, based in Ridgeland, Mississippi, bolstered its growth through a series of acquisitions. The company integrated processing facilities from ISE America and feed mills from Deal-Rite Feeds. In June, it closed the acquisition of Echo Lake Foods, a move aimed at expanding into prepared food products.
In line with its dividend policy, the company declared a fourth-quarter cash dividend of $2.35 per share. It also repurchased $50 million worth of stock during the quarter as part of a $500 million buyback program launched earlier this year.
Looking ahead, Cal-Maine said it sees further opportunity in prepared foods and specialty eggs, though it acknowledged the continuing risks posed by avian flu outbreaks. Despite those challenges, Miller said the company is well-positioned for continued growth in fiscal 2026.
“As the industry leader, we remain focused on responsible growth and delivering value for our customers and stakeholders,” he said.
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