Cal-Maine Foods ( CALM ) shares hovered near their all-time high set yesterday as the largest U.S. producer and distributor of eggs reported higher prices sent revenue soaring.

The company’s fiscal 2025 first-quarter sales skyrocketed 71% to $785.9 million, $120 million more than analysts surveyed by Visible Alpha had anticipated. Earnings per share (EPS) came in at $3.06, also above estimates.

The company set quarterly records for total dozens and specialty dozens sold. Total dozens sold rose 13.5% to 310.0 million, and sales of specialty dozens increased 20.1% to 110.0 million.

CEO Says Results Reflect ‘Significantly Higher Market Prices’ Than Year Ago

Chief Executive Officer (CEO) Sherman Miller said the results “reflect favorable demand for shell eggs during most of the quarter and significantly higher market prices compared with the first quarter last year.” He noted that in addition, the outbreak of avian flu significantly cut into egg supplies.

Miller added that the company believes that “today’s consumers are looking for affordable and nutritious protein options and that our shell eggs and egg products meet that need.”

Cal-Maine has a variable dividend policy based on net income, and it announced that for the fourth quarter of fiscal 2024 investors would receive $1.02 for every share they own. That is $0.25 more than the company had predicted previously.

Shares of Cal-Maine Foods, which touched a record $77.11 yesterday and were at $76.93 an hour after the opening bell Wednesday, have added a third of their value this year.