CAL-MAINE FOODS INC

For the period ended Feb 28, 2026. Filed Apr 1, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Feb 28, 2026 · Filed Apr 1, 2026

CALM$64.60-1.6%Stored close · as of Nov 6, 2026

What changed in Management’s Discussion and Analysis?

Read the current filing

Previous report: 10-Q

Period ended 2025-11-29; filed 2026-01-07.

0001562762-26-000004

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Current report: 10-Q

Period ended 2026-02-28; filed 2026-04-01.

0001562762-26-000046

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.

Compared 1002 previous paragraphs and 1594 current paragraphs.

651 unchanged; 12 reworded; 929 added; 338 removed; 1 previous and 2 current paragraphs rearranged.

Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.

A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.

Added paragraphs (929)

Current report

future

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impact

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pathogenic

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avian

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influenza

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future

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data,

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rates,

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future

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impact

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on

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new

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legislation,

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rules

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policies,

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legal

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proceedings,

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loss

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contingency

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accruals

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amounts

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recorded,

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stockholders including the

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timing and

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amount of

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any repurchases under our

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share repurchase program.

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Such forward-looking

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“intends,”

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“expects,”

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“hopes,”

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“may,”

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“should,”

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“plans,”

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“contemplates,”

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“anticipates,”

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similar

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words.

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outcomes

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management’s current intent, belief,

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Showing the first 40 of 929 passages. Open the source sections for the rest.

Removed paragraphs (338)

Previous report

the resurgence in United States

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(“U.S.”) commercial table egg layer flocks of highly

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pathogenic avian influenza (“HPAI”), estimated future production data, expected construction

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schedules, projected construction

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new legislation, rules or

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policies, potential outcomes of legal

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proceedings, including loss contingency accruals and factors

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may result

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in changes

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amounts recorded, other

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projected operating data,

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including anticipated results

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of operations

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repurchases under

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“intends,” “expects,”

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“hopes,” “may,”

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“should,” “plans,”

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“projected,” “contemplates,” “anticipates,”

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or similar

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words. Actual

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statements.

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are based

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on management’s

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current intent,

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belief, expectations,

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estimates, and

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projections regarding

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and its

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These statements

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are not

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guarantees of future

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performance and involve

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risks, uncertainties,

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assumptions, and

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other factors

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are difficult

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to predict

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and may

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be beyond

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our control.

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Showing the first 40 of 338 passages. Open the source sections for the rest.

Reworded paragraphs (12)

Previous wording

costs, potential future impact on our business of inflation and changing interest rates, potential future impact on our business of

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Current wording

expected construction schedules, projected construction costs, potential future impact on our business of inflation and changing

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Previous wording

financial condition, and potential future cash returns to stockholders including the timing and amount of any

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projected operating data, including anticipated results of operations and financial condition, and potential future cash returns to

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the forward-looking statements are based

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projected in the forward-looking statements. The forward-looking statements are based on

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shell egg, egg products and prepared

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the risks and hazards inherent in the shell egg, egg products and

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shell eggs and feed costs as well as increase in input costs

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increase in input costs for prepared foods,

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to, the market price of our Common Stock and general market and economic conditions. The share repurchase program may be

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our Common Stock and general market and economic

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forward-looking statements because, while we believe the

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forward-looking statements because, while

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as otherwise required by law, we disclaim any intent or obligation to update publicly

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we disclaim any intent or obligation to update

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and reportable segment. Our total flock

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and one reportable segment. Our total

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the U.S. and aim to maintain efficient, state-of-the-art

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to maintain efficient, state-of-the-art operations located

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Previous wording

our conventional eggs are priced and

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The majority of our specialty eggs are priced and

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not sell eggs directly to consumers or set the

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consumers or set the prices at which

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Rearranged current paragraphs (2)

Current report — wording carried from elsewhere

share repurchase program may be suspended, modified or

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Current report — wording carried from elsewhere

date hereof. Except as otherwise required by law,

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Rearranged previous paragraphs (1)

Previous report — wording carried elsewhere

potential future impact on our business of

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