We have continued to command premium prices for our products, including our shell eggs

Shell eggs accounted for approximately 92% of net revenue in each of the 13-week periods ended June 28, 2026 and June 29, 2025

Eggs and egg-related products generated $160.4 million in net revenue, approximately 97% of total net revenue, in the 13-week period ended June 28, 2026

We made the strategic decision to wind down our butter business to sharpen our focus on our core egg product categories where we see distinct competitive advantages

oversupply and velocity pressure acknowledged

“During 2026, as a result of economic uncertainty, an industry-wide oversupply of shell eggs and increased price gaps with certain competing shell egg products, we have experienced declining velocities in our shell egg sales to retail customers.”

active supply-control measures to normalize market

“In the 13-week and 26-week periods ended June 28, 2026, we worked with certain of our contracted farmers to address our oversupply through voluntary amendments to their producer contracts to cease production from existing flocks or delay placement of future flocks, in return for payments to such farmers, reflecting a portion of their foregone profits.”