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Lancaster Colony Corporation - LANC STOCK NEWS

Welcome to our dedicated page for Lancaster Colony Corporation news (Ticker: LANC), a resource for investors and traders seeking the latest updates and insights on Lancaster Colony Corporation stock.

Lancaster Colony Corporation (LANC) is a leading manufacturer and marketer of specialty food products, catering to both the retail and foodservice markets. Established in 1961, the company has built a strong reputation through its commitment to quality and innovation.

Core Business Segments:

  • Retail: Lancaster Colony offers an array of products under well-known brands such as Cardini's, Girard's, Marzetti, Sister Schubert's, and New York Brand Bakery. Their portfolio includes salad dressings, sauces, frozen garlic breads, vegetable dips, fruit dips, frozen rolls, premium dry egg noodles, frozen specialty noodles, croutons, salad toppings, flatbread wraps, and pizza crusts.
  • Foodservice: The company supplies a variety of food products to restaurants and institutional clients, ensuring consistent quality and catering to diverse culinary needs.

Product Segmentation:

  • Non-frozen Foods: Representing approximately 70% of the company's net sales, this segment includes products like salad dressings, sauces, dips, croutons, and flatbread wraps.
  • Frozen Foods: This segment encompasses frozen garlic breads, rolls, specialty noodles, and other frozen food items.

Recent Achievements and Partnerships:

Lancaster Colony is continually expanding its market presence through strategic partnerships and product innovations. For instance, their collaboration with Subway has been instrumental in enhancing their foodservice offerings.

Financial Health:

The company has a solid financial foundation, with robust sales and consistent growth in key markets. Lancaster Colony's prudent financial management and strategic investments ensure its sustainability and long-term success.

Commitment to Quality:

With a strong focus on quality control and customer satisfaction, Lancaster Colony ensures that every product meets the highest standards. Their dedication to excellence is reflected in their enduring consumer trust and loyalty.

Rhea-AI Summary

Lancaster Colony announced its Board of Directors declared a quarterly cash dividend of 90 cents per common share, to be paid on June 28, 2024, to shareholders of record as of June 7, 2024. This maintains the increased dividend level set six months ago and marks the company's 61st consecutive year of increased regular cash dividends. The annual payout for the current fiscal year ending June 30, 2024, is $3.55 per share, up from $3.35 per share in fiscal 2023. Lancaster Colony boasts a record of 244 consecutive quarterly cash dividends since September 1963. Approximately 27,527,000 common shares are currently outstanding.

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Lancaster Colony reported increased consolidated net sales by 1.4% to $471.4 million in the fiscal third quarter, with Retail net sales improving by 0.3% and Foodservice net sales growing by 2.6%. Consolidated gross profit increased by 10.9% to $104.5 million, driven by pricing favorability, cost savings initiatives, and volume growth. The company decided to exit perimeter-of-the-store bakery product lines, resulting in a $2.6 million inventory write-down. CEO David A. Ciesinski expressed optimism for the Retail segment and continued volume growth in the Foodservice segment.

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Lancaster Colony (Nasdaq: LANC) will release its third-quarter fiscal year 2024 financial results on May 2, 2024. A conference call will be held at 10:00 am ET on the same day to discuss the results. The company specializes in food products for retail and foodservice channels.
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Subway® Canada partners with T. Marzetti Company to launch four new retail sauces inspired by fan-favourite flavours, benefiting the Subway Cares Foundation. The sauces, including Sweet Onion Teriyaki, Roasted Garlic Aioli, Baja Chipotle, and Creamy Italian MVP, are now available in grocery stores across Canada in 473 ml bottles. The Subway Sauce program supports the Subway Cares Foundation's Fresh Start Scholarships, providing $2,500 (USD) towards secondary education for scholarship recipients.
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Lancaster Colony Corporation (Nasdaq: LANC) declares a quarterly cash dividend of 90 cents per share, maintaining a higher level set three months ago. The company marks its 61st consecutive year of increased regular cash dividends, showcasing financial strength. CEO David A. Ciesinski highlights the 243rd consecutive quarterly cash dividend paid since September 1963, with an annual payout for fiscal year 2024 at $3.55 per share, up from $3.35 in 2023.
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Lancaster Colony Corporation (Nasdaq: LANC) reported record-breaking results for the fiscal second quarter, with consolidated net sales increasing by 1.8% to $485.9 million. Retail net sales grew by 2.0% to $264.0 million, while Foodservice net sales advanced by 1.5% to $221.9 million. Consolidated gross profit increased by 19.0% to $121.5 million, and consolidated operating income increased by 28.1% to $65.8 million. Net income was $1.87 per diluted share versus $1.45 per diluted share last year. CEO David A. Ciesinski expressed satisfaction with the record sales and profit, attributing the growth to volume gains in the Retail segment and increased demand in the Foodservice segment. Looking ahead, the company projects continued sales growth in both segments, albeit with some headwinds from deflationary pricing in the Foodservice segment.
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Lancaster Colony Corporation (Nasdaq: LANC) will release its second quarter fiscal year 2024 financial results on February 1, 2024. The company will host a conference call to review its financial results and the webcast will be available on the company's website.
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Lancaster Colony Corporation (Nasdaq: LANC) appoints Alan F. Harris as Chairman of the Board of Directors effective January 1, 2024, succeeding Chairman John B. Gerlach, Jr. Mr. Harris has extensive experience in the food industry and consumer marketing, having served as a director on the Lancaster Colony Board since 2008 and as Lead Independent Director since 2018. Mr. Gerlach, the Corporation’s longest-serving director, will remain a member of the Board of Directors. President and CEO David A. Ciesinski expressed gratitude for Mr. Gerlach's leadership and dedication, while congratulating Mr. Harris on his new appointment.
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Lancaster Colony Corporation (Nasdaq: LANC) declared a 90 cents per common share quarterly cash dividend, marking 61 consecutive years of increasing regular cash dividends. The dividend will be payable on December 29, 2023, to shareholders of record on December 4, 2023. CEO David A. Ciesinski highlighted the company's strong financial position and the indicated annual payout for the current fiscal year ending June 30, 2024, at $3.55 per share.
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Lancaster Colony Corporation reported a 8.5% increase in consolidated net sales to a record $461.6 million for the fiscal first quarter ended September 30, 2023. Retail segment net sales improved 8.5% to $242.2 million, while Foodservice segment net sales advanced 8.4% to $219.4 million. Consolidated gross profit increased 9.8% to $108.7 million, and consolidated operating income increased 15.2% to $56.8 million. Net income was $1.59 per diluted share, compared to $1.36 per diluted share last year.
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FAQ

What products does Lancaster Colony Corporation offer?

Lancaster Colony Corporation offers a variety of specialty food products including salad dressings, sauces, frozen garlic breads, vegetable dips, fruit dips, rolls, dry egg noodles, specialty noodles, croutons, salad toppings, flatbread wraps, and pizza crusts.

What are the main business segments of Lancaster Colony Corporation?

The main business segments of Lancaster Colony Corporation are Retail and Foodservice.

Which brands are included in Lancaster Colony's portfolio?

Lancaster Colony's portfolio includes brands like Cardini's, Girard's, Marzetti, Sister Schubert's, New York Brand Bakery, Mamma Bella, Amish Kitchen, Reames, and Aunt Vi's.

What percentage of Lancaster Colony's net sales come from non-frozen foods?

Approximately 70% of Lancaster Colony's net sales come from non-frozen foods.

Who are Lancaster Colony Corporation's key partners?

One of Lancaster Colony Corporation's key partners is Subway, among others in the foodservice industry.

How does Lancaster Colony ensure the quality of its products?

Lancaster Colony ensures the quality of its products through stringent quality control measures and a strong focus on customer satisfaction.

When was Lancaster Colony Corporation established?

Lancaster Colony Corporation was established in 1961.

What is the significance of Lancaster Colony's collaboration with Subway?

The collaboration with Subway has enhanced Lancaster Colony's foodservice offerings, contributing to its market expansion and product innovation.

How does Lancaster Colony cater to the foodservice market?

Lancaster Colony caters to the foodservice market by providing a variety of high-quality food products to restaurants and institutional clients.

What is Lancaster Colony's commitment to sustainability?

Lancaster Colony is committed to sustainable practices through prudent financial management, strategic investments, and a focus on long-term success.

Lancaster Colony Corporation

Nasdaq:LANC

LANC Rankings

LANC Stock Data

5.14B
27.53M
28.24%
62.64%
2.1%
Fruit and Vegetable Canning
Manufacturing
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United States of America
WESTERVILLE