Shares of Cal-Maine Foods fell Wednesday after the egg producer's quarterly sales declined more than 40% as the price of eggs dropped dramatically from a year ago.

Cal-Maine stock fell 5.3% to $64.93 in premarket trading on Wednesday after ending Tuesday up 1.8%. Shares had fallen 27% since closing at a recent high of $93.50 on July 29, and had declined nearly 14% this year as of the closing bell on Monday.

Wall Street was pessimistic heading into earnings with expectations that lower egg prices and increased production costs would weigh on the company's financials.

The earnings, however, were worse than feared.

The largest egg company in the U.S. posted a loss of $1.26 a share in the fiscal first quarter ended Aug. 29, down from a profit of $4.12 a year ago and wider than Wall Street's expectation for a loss of 77 cents. Net sales fell 42% to $539.61 million, missing the analyst consensus of $561.6 million, according to FactSet. FactSet tracks only five Wall Street firms that cover Cal-Maine.

The company said its financial performance in the first quarter of fiscal 2027 reflected an abundantly supplied egg market with "historically softer seasonal pricing" which led to substantially lower conventional shell egg prices. Cal-Maine said the average selling price per a dozen conventional shell eggs fell more than 59%.

Barron's made Cal-Maine a stock pick on Dec. 10, 2025. The stock has fallen 20% since then.