Overview

• The U.S. Department of Justice's antitrust division is investigating Cal-Maine Foods, the largest egg producer in the U.S., over rising egg prices.
• Cal-Maine reported record third-quarter sales of $1.42 billion, nearly doubling from the previous year, driven primarily by higher egg prices.
• The company achieved a production milestone, selling 331.4 million dozen eggs in the third quarter, a 10% increase from the same period last year.
• Egg prices reached record highs due to the bird flu epidemic, which led to the culling of over 166 million egg-laying chickens across the U.S.
• Shares of Cal-Maine dropped over 4% in after-hours trading following the public acknowledgment of the DOJ investigation.