Net Income (Loss) per Common Share

6 Months Ended

Nov. 27, 2021

Net Income (Loss) per Common Share [Abstract]

Net Loss per Common Share

Note 9 - 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 and

139

 thousand were antidilutive due to the net

losses for the first twenty-six weeks of fiscal 2022 and 2021, respectively. 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 per common share (amounts in thousands, except per share data):

Thirteen Weeks Ended

Twenty-six Weeks Ended

November 27,

2021

November 28,

2020

November 27,

2021

November 28,

2020

Numerator

Net income (loss) 

$

1,145

$

12,155

$

(16,881)

$

(7,244)

Less: Loss attributable to noncontrolling

interest

(28)

—

(28)

—

Net income (loss) attributable to Cal-

Maine Foods, Inc.

$

1,173

$

12,155

$

(16,853)

$

(7,244)

Denominator

Weighted-average common shares

outstanding, basic

48,857

48,501

48,859

48,501

Effect of dilutive restricted shares

159

144

—

—

Weighted-average common shares

outstanding, diluted

49,016

48,645

48,859

48,501

Net income (loss) per common share

attributable to Cal-Maine Foods, Inc.

Basic

$

0.02

$

0.25

$

(0.34)

$

(0.15)

Diluted

$

0.02

$

0.25

$

(0.34)

$

(0.15)