Lancaster Colony Corp Stock Price, News & Analysis

Lancaster Colony Corporation (LANC) reported a record net sales increase of 14.2% to $428.4 million for the fiscal second quarter ending December 31, 2021. Retail sales rose 10.1% to $245.1 million, while Foodservice sales surged 20.3% to $183.3 million. Despite these gains, gross profit fell by $10.2 million to $96.6 million, driven by rising inflation and increased costs. Net income decreased to $34.4 million, or $1.25 per diluted share, down from $1.62 per share last year. The company anticipates continued headwinds from cost inflation.

Lancaster Colony Corporation (Nasdaq: LANC) will release its second quarter fiscal year 2022 financial results before market open on February 3, 2022. A conference call is set for the same day at 10:00 am ET to discuss these results. Interested parties can listen to the 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) announced a quarterly cash dividend increase to 80 cents per common share, marking 59 consecutive years of dividend increases. The dividend will be payable on December 31, 2021, to shareholders of record on December 6, 2021. The company maintains a strong financial position with an indicated annual payout of $3.15 per share for fiscal year ending June 30, 2022, an increase from $2.95 in fiscal 2021. Additionally, shareholders reelected three incumbent directors.

Lancaster Colony Corporation (LANC) reported a record net sales of $392.1 million in the fiscal first quarter ending September 30, 2021, a 12.3% increase year-over-year. The Retail segment led with a 15.6% growth to $223.9 million, driven by licensing agreements for Chick-fil-A and Buffalo Wild Wings sauces. However, consolidated gross profit remained flat at $92.4 million, and operating income decreased by $8.4 million to $40.5 million. Net income also declined to $1.11 per diluted share from $1.35 last year, impacted by cost inflation.

Lancaster Colony Corporation (Nasdaq: LANC) will release its first quarter fiscal year 2022 financial results on November 3, 2021, before market opening. The company will also conduct a conference call at 10:00 am ET the same day to discuss these results. Interested parties can access the live webcast on the company’s website by registering beforehand. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice sectors.

Lancaster Colony Corporation (LANC) reported record fiscal fourth quarter net sales of $385.6 million, up 20.2%, and for the fiscal year, net sales reached $1.5 billion, a 9.9% increase. Retail segment net sales rose 11.4% to $214.3 million, while Foodservice sales surged 33.3% to $171.3 million. Net income for the fourth quarter was $31.7 million or $1.15 per diluted share, reflecting a modest increase from last year. Despite these successes, increased costs from commodities and Project Ascent impacted profits. Looking ahead, growth in Retail and Foodservice is anticipated amid rising costs.

Lancaster Colony Corporation (Nasdaq: LANC) has announced a quarterly cash dividend of 75 cents per share, payable on September 30, 2021, to shareholders of record on September 10, 2021. This dividend marks the company's 58th consecutive year of increases, reflecting its strong financial position. CEO David A. Ciesinski highlighted this as the 233rd consecutive quarterly cash dividend since September 1963. Additionally, the company confirmed the date for its annual shareholder meeting, set for November 10, 2021.

Lancaster Colony Corporation (Nasdaq: LANC) will announce its fourth quarter and fiscal year 2021 financial results on August 26, 2021, before market opening. A conference call for discussing these results will be held at 10:00 am ET on the same day, which will be available via a live webcast on the company's website. Lancaster Colony is known for manufacturing and marketing specialty food products for both retail and foodservice sectors.

Lancaster Colony Corporation (Nasdaq: LANC) announced a quarterly cash dividend of 75 cents per share, payable on June 30, 2021, to shareholders of record on June 9, 2021. This maintains the higher dividend level set six months ago, marking the company's 58th consecutive year of increased dividends. The current fiscal year's annual payout is $2.95 per share, up from $2.75 in fiscal 2020. CEO David A. Ciesinski highlighted the company's strong financial position as a factor in this decision, reflecting continued shareholder confidence.