Cal-Maine Foods, Inc. is the largest producer and distributor of shell eggs in the United States, operating within the poultry and egg production industry. The company’s integrated operations cover hatching chicks, raising pullets and layers, maintaining breeder flocks, manufacturing feed, and producing, processing, packaging, and distributing shell eggs, egg products, and prepared foods. Its product line includes conventional eggs as well as specialty categories such as cage‑free, organic, brown, free‑range, pasture‑raised and nutritionally enhanced eggs. Cal‑Markets also offers liquid and frozen egg products and a range of prepared items including hard‑cooked eggs, egg wraps, protein pancakes, crepes and similar goods. The business emphasizes operational efficiency, a culture of sustainability and close proximity to its customer base to maintain a reliable supply of fresh egg products.

Cal-Maine Foods, Inc. generates revenue from the sale of shell eggs, egg products and prepared foods to a broad range of customers across the United States. Shell egg sales are divided between conventional and specialty eggs, with specialty eggs often priced through direct negotiation with customers while many conventional eggs are sold using formulas tied to independently quoted regional wholesale market prices. Egg products such as liquid, frozen and dried egg are primarily sold to institutional, foodservice and manufacturing customers. Prepared foods are distributed through retail and foodservice channels. The company does not sell directly to consumers or set consumer‑level prices; instead, it relies on contractual agreements with retailers, foodservice distributors and other buyers, most of which call for payment within seven to thirty days. Revenue is also influenced by feed costs, which represented 53.4% of farm production costs in fiscal 2025, and by fluctuations in wholesale egg prices driven by factors such as avian influenza outbreaks, seasonal demand and feed grain prices.

The company operates through the following segments:

• Production, packaging, marketing and distribution of shell eggs, egg products and prepared foods: This segment includes hatching chicks from breeder flocks, raising pullets and layers, manufacturing feed at company‑owned mills, producing and processing shell eggs, and packaging and distributing both shell eggs and value‑added products such as egg wraps, protein pancakes, crepes, hard‑cooked eggs and similar prepared foods.

Cal-Maine Foods, Inc. holds a leading position in the U. S. egg industry as the largest shell egg producer, with a flock of approximately 48.3 million layers and 11.5 million pullets and breeders as of May 31, 2025. Its vertically integrated model provides control over feed production, chick supply and egg processing, contributing to cost efficiency and consistent product quality. The company’s ability to offer both conventional and a wide array of specialty eggs enables it to meet evolving customer preferences and state‑level cage‑free requirements. Industry data show the ten largest producers own about 54% of table egg layer hens, indicating a fragmented market where Cal‑Maine’s scale, brand licenses with Eggland’s Best and Land O’ Lakes, and its focus on product differentiation provide competitive advantages. Additionally, its investments in cage‑free facilities and prepared‑food ventures such as the stake in Crepini Foods LLC and the acquisition of Echo Lake Foods enhance its capacity to capture growth in higher‑margin categories.

The company serves a diverse customer base that includes national and regional grocery store chains, club stores, foodservice distributors, institutions and other buyers throughout the United States. Its largest customer is Walmart Inc. (including Sam's Club), which accounted for approximately 33.6% of net sales in fiscal 2025, while the top three customers together represented about 49.2% of net sales that year. Cal-Maine also supplies foodservice providers that serve restaurants, healthcare facilities, hotels and education institutions, as well as customers purchasing egg products for industrial use. The majority of its revenue is derived from retail sales, with approximately 86% of shell egg revenue coming from retail channels and the remainder from foodservice. The company’s extensive distribution network reaches 40 states and Puerto Rico, allowing it to deliver fresh eggs and processed products to a wide geographic area.