Welcome to our dedicated page for Lancaster Colony news (Ticker: LANC), a resource for investors and traders seeking the latest updates and insights on Lancaster Colony stock.
LANC represents the historical ticker for Lancaster Colony Corporation, a manufacturer and marketer of specialty food products for the retail and foodservice channels. Company news releases describe Lancaster Colony’s operations through Retail and Foodservice segments and highlight its transition to the new corporate name, The Marzetti Company, and new trading symbol MZTI on the Nasdaq Global Select Market.
News related to LANC and The Marzetti Company includes quarterly and annual financial results, segment performance for Retail and Foodservice, and information on cost savings programs and manufacturing network changes. Earnings releases provide details on net sales, gross profit, operating income, restructuring and impairment charges, and other financial metrics, along with commentary on factors such as consumer demand, restaurant traffic, and product mix.
Additional news coverage includes announcements about dividend declarations and the company’s long record of consecutive years of increased regular cash dividends and consecutive quarterly cash dividend payments. Releases also describe acquisitions of sauce and dressing production facilities, temporary supply agreements connected to those acquisitions, and plans to optimize the manufacturing network, including the planned closure of certain facilities.
Subsidiary-focused news from T. Marzetti Company, a wholly owned subsidiary prior to the name change, covers leadership appointments, product launches, and licensing activities related to specialty food products. These items illustrate how the broader organization develops and markets specialty food offerings for both retail and foodservice customers.
Investors and followers of the historical LANC symbol can use this news stream to review Lancaster Colony’s and The Marzetti Company’s reported financial results, dividend actions, manufacturing updates, and subsidiary developments over time.
Lancaster Colony Corporation (NASDAQ: LANC) announced a quarterly cash dividend of 85 cents per common share, payable on March 31, 2023, to shareholders of record on March 9, 2023. This dividend maintains the level set three months ago, marking the company's 60th consecutive year of increased regular cash dividends. The indicated annual payout for the current fiscal year is $3.35 per share, up from $3.15 in fiscal 2022. CEO David A. Ciesinski highlighted that this will be the 239th consecutive quarterly cash dividend since September 1963.
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.