Cal-Maine said the move reflects consumer demand for free-range eggs and the need to meet regulations at the state level.

Construction should start by the end of this year, with the projects accommodating a million more cage-free hens by next summer.

Cal-Maine, the largest U.S. egg producer and distributor, also said that Hurricane Helene is unlikely to impact its operations.

Egg prices are soaring again, up more than 28% from a year ago. And in California, prices are even higher. The nationwide average for a dozen Grade A large eggs was $3.20 in August, according to figures from the U.

In addition to higher prices, the company benefited from limited supply because of avian flu hitting chicken flocks. Cal-Maine will pay a fourth-quarter dividend of $1.02, after previously expecting $0.