Investing.com --On Wednesday, Cal-Maine Foods, Inc. (NASDAQ: CALM) reported a fourth quarter loss per share of -$0.76, missing analyst estimates of $0.11 by $0.87.

Shares of the company fell 4.26% in pre-market trading following the results.

Revenue of $552.6 million fell short of the consensus estimate of $657.09 million and declined 49.9% YoY from $1.10 billion in the prior year period.

The company attributed the weak results to historically low inflation-adjusted wholesale shell egg prices driven by industry oversupply during the quarter.

Net sales declined across key segments, with Conventional Shell Eggs revenue dropping 70% to $210.8 million as average selling prices per dozen decreased 70.9% in the quarter. Specialty Shell Eggs sales fell 21.4% to $239.7 million, with volumes down 5.9% and average prices declining 16.5%.

The company posted an operating loss of $58.8 million compared to operating income of $435.9 million in the prior year quarter.

For fiscal 2026, Cal-Maine reported diluted EPS of $6.63 on revenue of $2.91 billion, down 31.7% YoY from $4.26 billion.

Sherman Miller, president and CEO, stated, "Fiscal 2026, culminating in a particularly challenging fourth quarter, reinforced the importance of our strategy to enhance the structural mix of our business, expand our portfolio of products that support more stable and predictable financial performance, and reposition our pricing structure by reducing the impact of market-based pricing."

The company announced it acquired additional Eggland’s Best franchise territory in the Northeast, expected to increase Specialty Shell Egg volume by approximately 5% annually.

Cal-Maine also announced a $54 million investment to expand Prepared Foods production capacity by approximately 30% beginning in the first half of fiscal 2028.

Cal-Maine repurchased 396,083 shares for $30.1 million during the quarter. The company will not pay a dividend for the fourth quarter under its variable dividend policy.