Cal-Maine Foods (CALM) Proxy Filing summary

Executive summary

• Fiscal 2024 net sales were $2.3 billion, down from $3.1 billion in fiscal 2023, reflecting lower market prices and a 52-week period versus 53 weeks prior.

• Net income was $277.9 million ($5.69 per diluted share), compared to $758.0 million ($15.52 per diluted share) in fiscal 2023.

• Sales volume remained steady at 1.147 billion dozen eggs, with strong consumer demand for shell eggs.

• Growth strategy included organic initiatives and acquisitions, such as Fassio Egg Farms and assets in Dexter, Missouri, to expand production and market reach.

• Post-fiscal year, acquired ISE America assets to expand in the Northeast and Mid-Atlantic, including new operations in Maryland, New Jersey, and Delaware.

Risk oversight and compliance

• HPAI outbreaks in Kansas and Texas led to depopulation of 3.1 million hens and 577,000 pullets; USDA has cleared both sites for repopulation by end of 2024.

• Robust biosecurity measures are maintained, with ongoing collaboration with government and industry partners to mitigate future risks.

ESG and sustainability initiatives

• Commitment to being the most reliable and sustainable producer of fresh shell eggs and egg products in the U.S.

• Focus on expanding specialty and cage-free egg production to meet evolving consumer demand and support sustainable practices.