Lancaster Colony Corp Stock Price, News & Analysis

Lancaster Colony Corporation (LANC) reported record fiscal second quarter results for the period ending December 31, 2022, with net sales rising by 11.4% to $477.4 million. Retail sales increased 5.6% to $258.8 million, while Foodservice sales surged 19.2% to $218.6 million. Consolidated gross profit grew by 5.7% to $102.1 million, driving operating income up 13.3% to $51.3 million. Net income reached $40 million, or $1.45 per diluted share, exceeding $1.25 from the prior year. Strategic pricing measures helped offset inflationary costs, and production expansion in Kentucky was highlighted as a growth driver.

Lancaster Colony Corporation (LANC) will announce its second quarter fiscal year 2023 financial results on February 2, 2023, prior to market opening. A conference call to discuss these results will take place at 10:00 am ET on the same day, which will be available via live webcast on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products for both retail and foodservice sectors.

Lancaster Colony Corporation (Nasdaq: LANC) has declared a quarterly cash dividend of 85 cents per share, continuing its legacy with 60 consecutive years of increasing dividends. The dividend will be payable on December 30, 2022, to shareholders of record as of December 5, 2022. The indicated annual payout for the fiscal year ending June 30, 2023 stands at $3.35 per share, up from $3.15 in fiscal 2022. Additionally, shareholders at the annual meeting reelected four directors, affirming strong governance and stability.

Lancaster Colony Corporation (Nasdaq: LANC) reported its fiscal first quarter results, showing a record net sales of $425.5 million, an increase of 8.5% year-over-year. The Retail segment saw a slight decline of 0.3% to $223.2 million, while Foodservice net sales surged by 20.3% to $202.3 million. Gross profit also increased by 7.2% to $99.1 million with a gross profit margin of 23.3%. Net income rose to $1.36 per diluted share, up from $1.11 in the previous year, despite challenges from cost inflation and a shift in sales due to ERP implementation.

Lancaster Colony Corporation (Nasdaq: LANC) will release its Q1 fiscal year 2023 financial results on November 3, 2022, before market open. A conference call to discuss these results will begin at 10:00 am ET on the same day. Interested parties can listen via live webcast on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice markets.

Lancaster Colony Corporation (LANC) reported a 17.3% increase in fourth quarter net sales to a record $452.4 million for the fiscal year ending June 30, 2022. The Retail segment grew 8.8% to $233.1 million, while Foodservice surged 28.1% to $219.3 million. Despite record gross profit of $98.4 million, operating income fell 21.3% due to restructuring charges. Net income declined to $1.06 per diluted share from $1.15. Looking ahead, LANC faces challenges from rising commodity costs and anticipated impacts from advance customer orders.

Lancaster Colony Corporation (Nasdaq: LANC) has declared a quarterly cash dividend of 80 cents per share, payable on September 30, 2022, to shareholders of record as of September 9, 2022. This marks the 59th consecutive year of dividend increases, making the company one of only 13 U.S. firms with such a record. CEO David A. Ciesinski noted that this dividend reflects the company's strong financial position. Additionally, the annual shareholder meeting is scheduled for November 9, 2022, in a virtual format.

Lancaster Colony Corporation (Nasdaq: LANC) is set to release its fourth quarter and fiscal year 2022 financial results on August 25, 2022, before market opening. Following the release, a conference call will take place at 10:00 am ET to discuss the results.

The call will be available for live streaming on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products in both retail and foodservice sectors.

Lancaster Colony Corporation (NASDAQ: LANC) announced a significant milestone in its Project Ascent ERP initiative, with the Wave 1 implementation completed as of July 1, 2022. The new SAP S/4 HANA system is operational across two manufacturing plants, a distribution center, and third-party warehouses, enabling efficient order processing and fulfillment. The company anticipates ongoing improvements as it addresses minor issues typical of such large-scale projects, with future waves scheduled over the next 12 to 18 months to include additional facilities.