Net Income (Loss) per Common Share

6 Months Ended

Nov. 26, 2022

Net Income (Loss) per Common Share [Abstract]

Net Income (Loss) per Common Share

Note 6 - Net Income (Loss) per Common Share

Basic net income (loss) per share is based on the weighted average Common Stock and Class A Common Stock outstanding.

Diluted net income per share is based on weighted-average common shares outstanding during the relevant period adjusted for

the dilutive effect of share-based awards. Restricted shares of

145

 thousand were antidilutive due to the net loss for the first

twenty-six weeks of fiscal 2022. These shares were not included in the diluted net loss per share calculation.

The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net

income (loss) per common share (amounts in thousands, except per share data):

Thirteen Weeks Ended

Twenty-six Weeks Ended

November 26,

2022

November 27,

2021

November 26,

2022

November 27,

2021

Numerator

Net income (loss)

$

198,294

$

1,145

$

323,428

$

(16,881)

Less: Loss attributable to noncontrolling

interest

(293)

(28)

(446)

(28)

Net income (loss) attributable to Cal-

Maine Foods, Inc.

$

198,587

$

1,173

$

323,874

$

(16,853)

Denominator

Weighted-average common shares

outstanding, basic

48,624

48,857

48,624

48,859

Effect of dilutive restricted shares

216

159

203

—

Weighted-average common shares

outstanding, diluted

48,840

49,016

48,827

48,859

Net income (loss) per common share

attributable to Cal-Maine Foods, Inc.

Basic

$

4.08

$

0.02

$

6.66

$

(0.34)

Diluted

$

4.07

$

0.02

$

6.63

$

(0.34)