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Lancaster Colony Corporation, now The Marzetti Company, reports developments tied to its specialty foods business for retail and foodservice customers. Recurring updates cover sales and earnings for the Retail and Foodservice segments, demand for branded and licensed products, product launches, restaurant-chain foodservice supply, cost programs, dividends and governance actions.
The company’s product portfolio includes Marzetti dressings and dips, New York Bakery garlic breads, Sister Schubert’s dinner rolls and licensed sauces, dressings and frozen rolls associated with restaurant brands such as Olive Garden, Chick-fil-A, Buffalo Wild Wings, Arby’s, Subway and Texas Roadhouse.
Lancaster Colony Corporation (Nasdaq: LANC) has declared a quarterly cash dividend of 80 cents per share, payable on June 30, 2022, to shareholders of record on June 9, 2022. This dividend maintains the higher level set six months ago, marking the company’s 59th consecutive year of increased cash dividends. CEO David A. Ciesinski highlighted that this will be the 236th consecutive quarterly cash dividend since September 1963. The annual payout for the fiscal year ending June 30, 2022, is $3.15 per share, up from $2.95 paid in fiscal 2021.
Lancaster Colony Corporation (LANC) reported strong fiscal Q3 results for the period ending March 31, 2022, with **net sales** rising **12.9%** to a record **$403.5 million**. However, gross profit fell to **$68.3 million**, a decline of **$22.2 million**, and the company posted an operating loss of **$7.6 million** due to restructuring costs related to Bantam Bagels. Net loss stood at **$4.5 million** or **$0.17 per share**. Despite challenges from inflation and supply chain disruptions, CEO David Ciesinski noted ongoing demand for licensed products and a focus on pricing actions to mitigate costs.
Lancaster Colony Corporation (Nasdaq: LANC) will release its third quarter fiscal year 2022 financial results on May 5, 2022, before the market opens. A conference call is scheduled for 10:30 am ET the same day to discuss these results. The call will be available via live webcast on the company's website, www.lancastercolony.com.
Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice channels.
Lancaster Colony Corporation (Nasdaq: LANC) announced an agreement with Arby's Restaurant Group to supply Horsey Sauce® and Arby's Sauce® to U.S. and Canadian retail channels. A limited launch is scheduled for select Club stores in the U.S. starting in the fiscal first quarter ending September 30, 2022, with broader distribution anticipated in the fiscal second quarter. This agreement gives Lancaster Colony exclusive rights to distribute these sauces, enhancing their retail licensing program.
Lancaster Colony Corporation (Nasdaq: LANC) has declared a quarterly cash dividend of 80 cents per share, payable on March 31, 2022, to shareholders on record as of March 9, 2022. This marks the company's 59th consecutive year of increasing cash dividends, making it one of only 13 U.S. firms with such a record. CEO David A. Ciesinski emphasized the strong financial position of the company, with an indicated annual payout for the fiscal year ending June 30, 2022 at $3.15 per share, up from $2.95 for fiscal 2021.
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.