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Marzetti Q1 earnings fall 37.4% to $1.07 a share

Management expects to mitigate most or all moderate commodity inflation and significantly higher diesel and freight costs through pricing and cost savings.

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Form Type
8-K

Rhea-AI Filing Summary

The Marzetti Company reported fiscal first-quarter net sales of $481.5 million for the three months ended September 30, 2026, down 2.4% from $493.5 million a year earlier. Retail sales rose 2.0% to $252.7 million, including $17.8 million from newly acquired Bachan’s; Foodservice sales fell 6.9% to $228.8 million. Excluding $10.7 million of prior-year temporary supply agreement sales, consolidated sales declined 0.3% and Foodservice sales declined 2.6%.

Net income declined to $29.3 million from $47.2 million, and diluted EPS was $1.07 versus $1.71; adjusted diluted EPS, a non-GAAP measure, was $1.14 versus $1.74. Operating income fell to $41.4 million from $59.3 million as gross profit declined $8.0 million and SG&A rose $10.9 million. The company cited lower volumes, higher diesel and freight costs, Atlanta facility commissioning costs and Bachan’s amortization.

Management said the cyclospora outbreak reduced sales in both segments and its impact had moderated in recent weeks. For the coming fiscal second quarter and remainder of the year, the company anticipates Retail benefits from Bachan’s and new products, and expects most or all moderate commodity inflation and significantly higher diesel and freight costs to be mitigated through pricing and cost savings.

0 points · 0 major

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0 major · 4 points

How the balance works

Positive

  • None.

Negative

  • Moderate pointOperating income declined 30.1% to $41.4 million.
  • Minor pointDiluted EPS fell 37.4% to $1.07 from $1.71.
  • Minor pointNet income declined $17.9 million to $29.3 million.
  • Minor pointGross profit decreased $8.0 million to $110.8 million.

Filing Explained

The report says part of Bachan’s purchase price was financed with a $200 million term loan, so the acquisition carries debt financing; first-quarter interest expense was $2.8 million, versus no interest expense a year earlier.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Consolidated net sales $481.5 million Three months ended September 30, 2026; $493.5 million in the prior-year quarter; down 2.4%
Retail segment net sales $252.7 million Three months ended September 30, 2026; increased 2.0%
Foodservice segment net sales $228.8 million Three months ended September 30, 2026; decreased 6.9%
Gross profit $110.8 million Three months ended September 30, 2026; decreased $8.0 million from the prior-year quarter
Operating income $41.4 million Three months ended September 30, 2026; down 30.1% from $59.3 million
Net income $29.3 million Three months ended September 30, 2026; decreased $17.9 million from $47.2 million
Diluted EPS $1.07 per diluted share Three months ended September 30, 2026; down 37.4% from $1.71
Adjusted Diluted EPS $1.14 per diluted share Non-GAAP measure for the three months ended September 30, 2026; $1.74 in the prior-year quarter
temporary supply agreement financial
"non-core sales attributed to a temporary supply agreement"
A temporary supply agreement is a short-term contract in which one party agrees to provide goods or services to another for a limited period, often to meet immediate demand or bridge a gap in sourcing. Investors care because it can quickly boost or stabilize revenue and production but may carry higher costs, limited long-term security, and greater renewal or delivery risk—like renting equipment instead of buying it.
Adjusted Diluted EPS financial
"Adjusted Net Income Per Diluted Share (“Adjusted Diluted EPS”)"
Adjusted diluted EPS is a company’s profit per share after adding back or removing one-time items (like restructuring costs or gains) and dividing by the number of shares including potential shares from options and convertible securities. Investors use it as a cleaner view of ongoing earnings—like looking at a car’s regular fuel efficiency rather than a trip boosted by downhill coasting—to judge underlying performance and compare companies without temporary distortions.
noncash amortization expense financial
"incremental noncash amortization expense for Bachan’s intangible assets"
cyclospora outbreak medical
"Both Retail and Foodservice segment net sales were significantly impacted by the cyclospora outbreak."
commissioning costs technical
"commissioning costs for the addition of new production capacity"
Net sales $481.5 million Down 2.4% from $493.5 million
Operating income $41.4 million Down 30.1% from $59.3 million
Net income $29.3 million Down $17.9 million from $47.2 million
Diluted EPS $1.07 per diluted share Down 37.4% from $1.71
Adjusted Diluted EPS $1.14 per diluted share Down $0.60 from $1.74
Guidance

The company anticipates Retail sales will continue to benefit from Bachan’s and new items. It expects most or all moderate commodity cost inflation and significantly higher diesel and freight costs to be mitigated through inflationary pricing and cost savings programs.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were MZTI's sales in fiscal Q1 2026?
MZTI reported net sales of $481.5 million for the three months ended September 30, 2026, down 2.4% from $493.5 million a year earlier. Excluding $10.7 million in prior-year temporary supply agreement sales, adjusted consolidated net sales declined 0.3%.

What were MZTI's earnings per share in fiscal Q1 2026?
Net income was $29.3 million and diluted EPS was $1.07, compared with net income of $47.2 million and diluted EPS of $1.71 in the prior-year quarter. Adjusted diluted EPS, a non-GAAP measure, was $1.14 versus $1.74.

How did the cyclospora outbreak affect MZTI's sales?
The company estimated that the outbreak reduced Retail segment net sales by approximately 4% and Foodservice segment net sales by approximately 2%. Management said the outbreak’s impact had moderated in recent weeks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0000057515false00000575152026-11-032026-11-03

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 3, 2026
The Marzetti Company
(Exact name of registrant as specified in its charter)
Ohio000-0406513-1955943
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(I.R.S. Employer
Identification No.)
380 Polaris ParkwaySuite 400
WestervilleOhio43082
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code:
(614)
224-7141
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, without par valueMZTINASDAQ Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


Item 2.02    Results of Operations and Financial Condition
On November 3, 2026, The Marzetti Company issued a press release announcing its results for the three months ended September 30, 2026. The press release is attached as Exhibit 99.1.
Item 9.01    Financial Statements and Exhibits
(d)Exhibits:
Exhibit NumberDescription
99.1*
Press Release dated November 3, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
*Furnished herewith




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE MARZETTI COMPANY
(Registrant)
Date:November 3, 2026By: /s/ THOMAS K. PIGOTT
Thomas K. Pigott
Vice President, Chief Financial Officer
and Assistant Secretary
(Principal Financial and Accounting Officer)

    
themarzetticompanya.jpg
Exhibit 99.1
FOR IMMEDIATE RELEASESYMBOL: MZTI
November 3, 2026TRADED: Nasdaq

THE MARZETTI COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS
WESTERVILLE, Ohio, November 3 - The Marzetti Company (Nasdaq: MZTI) reported results today for the company’s fiscal first quarter ended September 30, 2026.
Summary
•Consolidated first quarter net sales declined 2.4% to $481.5 million. Excluding the prior-year quarter’s $10.7 million in non-core sales attributed to a temporary supply agreement (“TSA”) with Winland Foods, Inc., which concluded during the quarter ended March 31, 2026, consolidated net sales declined 0.3%.
•Retail segment net sales increased 2.0% to $252.7 million, which includes $17.8 million of incremental sales from Bachan’s, Inc., our newly acquired Japanese Barbecue Sauce brand known for its delicious, authentic, clean-label products.
•Foodservice segment net sales decreased 6.9% to $228.8 million on a reported basis. Excluding the non-core TSA sales of $10.7 million in the prior-year quarter, Foodservice segment net sales decreased 2.6%.
•Both Retail and Foodservice segment net sales were significantly impacted by the cyclospora outbreak.
•Consolidated gross profit declined $8.0 million to $110.8 million and reported gross profit margin decreased 110 basis points to 23.0% driven by the reduced sales and associated impact of lower production volumes on our plant operations; significantly higher diesel and freight costs; and commissioning costs for the addition of new production capacity at our sauce and dressing facility in Atlanta, Georgia.
•SG&A expenses increased $10.9 million to $69.3 million. The higher SG&A expenses were primarily driven by incremental core SG&A costs for Bachan’s in addition to $2.4 million in noncash amortization expense attributed to Bachan’s intangible assets.
•Consolidated operating income declined $17.8 million to $41.4 million, which reflects the impact of the lower gross profit and higher SG&A expenses. Prior-year operating income includes restructuring and impairment charges of $1.1 million resulting from the closure of our sauce and dressing facility in Milpitas, California. Adjusted Operating Income declined $16.6 million to $43.9 million.
•First quarter net income was $1.07 per diluted share versus $1.71 per diluted share last year. In the current-year quarter, the incremental noncash amortization expense for Bachan’s intangible assets reduced net income by $0.07 per diluted share. In the prior-year quarter, restructuring and impairment charges reduced net income by $0.03 per diluted share. Excluding these items, the resulting Adjusted Net Income Per Diluted Share (“Adjusted Diluted EPS”) was $1.14 in the current-year quarter, versus $1.74 last year, as impacted by the reduced gross profit and higher SG&A expenses.
MORE. . .
PAGE 2 / THE MARZETTI COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS
CEO David A. Ciesinski commented, “The cyclospora outbreak had a significant impact on this quarter’s top and bottom-line results. The outbreak resulted in lower sales for both our Retail and Foodservice segments, with the impact on Retail segment net sales more notable, accounting for an estimated year-over-year net sales decline of approximately 4% due to lower demand for our Retail dressing, dip and crouton products. On a positive note, other areas of our business continued to perform well and the cyclospora impact has moderated in recent weeks.”
“The newly acquired Bachan’s brand added $17.8 million in incremental sales to our Retail segment. Retail scanner data sourced from Circana for the quarter ended September shows continued momentum for the Bachan’s brand, with sales up 10.7% as the brand continues to gain share in the barbecue sauce category. Consumer demand for our Texas Roadhouse® dinner rolls also remained strong, with sales up 21.3% per Circana. In the Foodservice segment, with the cyclospora outbreak a headwind to growth, the segment’s reported net sales declined 6.9% and Adjusted Foodservice Net Sales, which exclude the non-core TSA sales, decreased 2.6%.”
“The decrease in consolidated operating income was driven by the lower sales and associated impact of lower production volumes on our plant operations; significantly higher diesel and freight costs; and commissioning costs for the addition of new production capacity at our sauce and dressing facility in Atlanta, Georgia.”
“Looking ahead to our fiscal second quarter and the remainder of the fiscal year, we anticipate Retail segment sales will continue to benefit from incremental sales attributed to the Bachan’s acquisition in addition to contributions from new items that we recently launched or have planned for introduction later this year. In the Foodservice segment, we expect sales to remain supported by select quick-service restaurant customers in our mix of national chain restaurant accounts. We continue to anticipate a moderate level of commodity cost inflation, in addition to significantly higher diesel and freight costs, most or all of which we expect to mitigate through inflationary pricing and our cost savings programs as we remain focused on margin improvement.”
First Quarter Results
Consolidated net sales decreased 2.4% to $481.5 million versus $493.5 million last year. Excluding the prior-year quarter’s $10.7 million in non-core sales attributed to the TSA with Winland Foods, Inc., Adjusted Consolidated Net Sales declined 0.3%. Our newly acquired Bachan’s business added $17.8 million in net sales, or about 360 basis points of consolidated net sales growth. Retail segment net sales grew 2.0% to $252.7 million while the segment’s sales volume, measured in pounds shipped, increased 0.4%. Bachan’s accounted for 720 basis points of Retail segment net sales growth and 750 basis points of Retail segment volume growth. The impact of the cyclospora outbreak is estimated to have reduced Retail segment net sales by approximately 4%. In the Foodservice segment, net sales declined 6.9% to $228.8 million while the segment’s sales volume, measured in pounds shipped, fell 7.6%. Excluding the non-core TSA sales, Foodservice segment net sales decreased 2.6% while the segment’s core sales volume declined 4.1%. The impact of the cyclospora outbreak is estimated to have reduced Foodservice segment net sales by approximately 2%.
Consolidated gross profit decreased $8.0 million to $110.8 million driven by the sales decline and associated impact of lower production volumes on our plant operations; higher freight costs; and costs for the addition of new production capacity at our sauce and dressing facility in Atlanta, Georgia.
MORE. . .
PAGE 3 / THE MARZETTI COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS
SG&A expenses increased $10.9 million to $69.3 million. In addition to the incremental core SG&A expenses attributed to Bachan’s, the higher SG&A costs also include $2.4 million in noncash amortization expense attributed to Bachan’s intangible assets.
In the prior-year quarter, restructuring and impairment charges of $1.1 million are attributed to the closure of our sauce and dressing facility in Milpitas, California.
Consolidated operating income decreased $17.8 million to $41.4 million. Excluding the $2.4 million in noncash amortization expense for Bachan’s intangible assets and last year’s restructuring and impairment charges of $1.1 million, Adjusted Operating Income declined $16.6 million to $43.9 million. The decrease in Adjusted Operating Income reflects the lower gross profit and higher SG&A expenses.
Interest expense totaled $2.8 million in the current year versus no interest expense last year, as a portion of the Bachan’s acquisition purchase price was financed with a $200 million term loan.
Net income decreased $17.9 million to $29.3 million, or $1.07 per diluted share, versus $47.2 million, or $1.71 per diluted share, last year. In the current-year quarter, the incremental noncash amortization expense for the Bachan’s intangible assets decreased net income by $1.9 million, or $0.07 per diluted share. In the prior-year quarter, restructuring and impairment charges reduced net income by $0.9 million, or $0.03 per diluted share. Resulting Adjusted Diluted EPS was $1.14 in the current-year quarter versus $1.74 last year.
Conference Call on the Web
The company’s first quarter conference call is scheduled for this morning, November 3, at 10:00 a.m. ET. Access to a live webcast and subsequent replay of the call is available through a link on the company’s website at investors.marzetticompany.com.
About The Marzetti Company
The Marzetti Company is a manufacturer and marketer of specialty food products for the retail and foodservice channels.
Forward-Looking Statements
We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). This news release contains various “forward-looking statements” within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words “anticipate,” “estimate,” “project,” “believe,” “intend,” “plan,” “expect,” “hope” or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward-looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors, many of which are beyond our control, which could cause our actual results to differ materially from those expressed in the forward-looking statements. Some of the key factors that could cause actual results to differ materially from those expressed in the forward-looking statements include:
•the ability to successfully integrate the acquired Bachan’s business and achieve operational and financial performance objectives;
•changes in demand for our products, which may result from changes in consumer behavior or loss of brand reputation or customer goodwill;
•significant shifts in consumer demand and disruptions to our employees, communities, customers, supply chains, production planning, operations, and production processes resulting from the impacts of epidemics, pandemics or similar widespread public health concerns and foodborne outbreaks;
•efficiencies in plant operations and our overall supply chain network;
MORE. . .
PAGE 4 / THE MARZETTI COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS
•geopolitical events that could create unforeseen business disruptions and impact the cost or availability of raw materials and energy;
•inflationary pressures resulting in higher input costs;
•adverse changes in freight, energy or other costs of producing, distributing or transporting our products;
•fluctuations in the cost and availability of ingredients and packaging;
•the reaction of customers or consumers to pricing actions we take to offset inflationary costs;
•price and product competition;
•changes in our cash flow or use of cash in various business activities;
•the success and cost of new product development efforts;
•the lack of market acceptance of new products;
•the impact of customer store brands on our branded retail volumes;
•dependence on key personnel and changes in key personnel;
•the impact of any laws and regulatory matters affecting our food business, including any additional requirements imposed by the federal, state or local government;
•adverse changes in trade policies, including increased tariffs, retaliatory trade measures, or other trade restrictions;
•adequate supply of labor for our manufacturing facilities;
•stability of labor relations;
•the extent to which good-fitting business acquisitions are identified, acceptably integrated, and achieve operational and financial performance objectives;
•dependence on a wide array of critical third parties to support our operations, including contract manufacturers, distributors, logistics providers and IT vendors;
•cyber-security incidents, information technology disruptions, and data breaches;
•the potential for loss of larger programs or key customer relationships;
•capacity constraints that may affect our ability to meet demand or may increase our costs;
•failure to maintain or renew license agreements;
•the possible occurrence of product recalls or other defective or mislabeled product costs;
•maintenance of competitive position with respect to other manufacturers;
•the outcome of any litigation or arbitration;
•the effect of consolidation of customers within key market channels;
•changes in estimates in critical accounting judgments; and
•risks related to other factors described under “Risk Factors” in other reports and statements filed by us with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (available at www.sec.gov).
Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements, except as required by law. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on statements that are based on current expectations.

# # # #

FOR FURTHER INFORMATION:Dale N. Ganobsik
Vice President, Corporate Finance and Investor Relations
The Marzetti Company
Phone: 614/224-7141
Email: ir@marzetti.com
MORE. . .
PAGE 5 / THE MARZETTI COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS

The Marzetti Company
Condensed Consolidated Statements of Income
(Unaudited, In thousands except per-share amounts)

Three Months Ended 
September 30,
20262025
Net sales$481,522 $493,472 
Cost of sales370,748 374,653 
Gross profit110,774 118,819 
Selling, general & administrative expenses69,330 58,416 
Restructuring, impairment and other, net— 1,143 
Operating income41,444 59,260 
Interest expense(2,797)— 
Other, net129 1,529 
Income before income taxes38,776 60,789 
Taxes based on income9,476 13,607 
Net income$29,300 $47,182 
Net income per common share: (a)
Basic$1.08 $1.71 
Diluted$1.07 $1.71 
Cash dividends per common share$1.00 $0.95 
Weighted average common shares outstanding:
Basic27,226 27,455 
Diluted27,275 27,494 

(a)        Based on the weighted average number of shares outstanding during each period.
MORE. . .
PAGE 6 / THE MARZETTI COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS

The Marzetti Company
Business Segment Information
(Unaudited, In thousands)

Three Months Ended 
September 30,
20262025
Net Sales
Retail$252,721 $247,845 
Foodservice228,801 245,627 
Total Net Sales$481,522 $493,472 
Operating Income
Retail$37,176 $50,611 
Foodservice30,393 34,768 
Nonallocated Restructuring, Impairment and Other— (1,143)
Corporate Expenses(26,125)(24,976)
Total Operating Income$41,444 $59,260 



The Marzetti Company
Condensed Consolidated Balance Sheets
(Unaudited, In thousands)

September 30,
2026		June 30,
2026
Assets
Current assets:
Cash and equivalents$17,521 $25,096 
Receivables110,370 105,488 
Inventories215,794 205,062 
Other current assets36,744 25,315 
Total current assets380,429 360,961 
Net property, plant and equipment555,954 551,554 
Other assets687,744 692,505 
Total assets$1,624,127 $1,605,020 
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable$180,893 $156,785 
Accrued liabilities57,035 64,751 
Current portion of long-term debt10,000 10,000 
Total current liabilities247,928 231,536 
Long-term debt186,813 189,276 
Other noncurrent liabilities and deferred income taxes137,759 131,058 
Shareholders’ equity1,051,627 1,053,150 
Total liabilities and shareholders’ equity$1,624,127 $1,605,020 
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PAGE 7 / THE MARZETTI COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS
Reconciliation of GAAP to non-GAAP Financial Measures
The Marzetti Company prepares its consolidated financial statements in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). However, from time to time, the corporation may present in its public statements, press releases and SEC filings, non-GAAP financial measures such as Adjusted Consolidated Net Sales, Adjusted Foodservice Net Sales, Adjusted Cost of Sales, Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Operating Income, and Adjusted Net Income Per Diluted Share (“Adjusted Diluted EPS”). Management considers such non-GAAP financial measures to provide useful supplemental information to investors in facilitating year-over-year comparisons by removing non-recurring items or other items that management believes do not directly reflect the underlying operations. Management uses these non-GAAP measures in the preparation of our annual operating plan and for our monthly analysis of operating results. Reconciliations of the non-GAAP measures to the most comparable GAAP financial measures are provided below. The corporation’s definitions of these non-GAAP measures may differ from similarly titled measures used by other companies. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.
Adjusted Consolidated Net Sales, Adjusted Foodservice Net Sales, Adjusted Cost of Sales, Adjusted Gross Profit and Adjusted Gross Margin are non-GAAP financial measures that exclude non-core sales and cost of sales attributed to a temporary supply agreement (“TSA”) made in connection with our February 2025 acquisition of Winland’s Atlanta-based sauce and dressing production facility. The TSA sales are included in the reported net sales for our Foodservice segment and did not contribute meaningfully to gross profit. The TSA sales commenced in March 2025 and concluded during the quarter ended March 31, 2026. The following table presents a reconciliation between net sales, cost of sales, gross profit and gross margin as reported in accordance with GAAP and Adjusted Consolidated Net Sales, Adjusted Foodservice Net Sales, Adjusted Cost of Sales, Adjusted Gross Profit and Adjusted Gross Margin for the three month periods ended September 30, 2026 and 2025.
Three Months Ended September 30, 2026Three Months Ended September 30, 2025
(Unaudited, Dollars In Thousands)ReportedTSA-RelatedAdjusted
(non-GAAP)		ReportedTSA-RelatedAdjusted
(non-GAAP)
Consolidated
Net Sales$481,522 $— $481,522 $493,472 $10,691 $482,781 
Cost of Sales370,748 — 370,748 374,653 10,691 363,962 
Gross Profit$110,774 $— $110,774 $118,819 $— $118,819 
Gross Margin23.0 %— %23.0 %24.1 %— %24.6 %
Foodservice Segment
Foodservice Net Sales$228,801 $— $228,801 $245,627 $10,691 $234,936 
MORE. . .
PAGE 8 / THE MARZETTI COMPANY REPORTS FIRST QUARTER SALES AND EARNINGS
Adjusted Operating Income and Adjusted Diluted EPS are non-GAAP financial measures that exclude certain items affecting comparability, which can impact the analysis of our underlying core business performance and trends. The following table presents a reconciliation between 1) operating income as reported in accordance with GAAP and Adjusted Operating Income and 2) diluted EPS as reported in accordance with GAAP and Adjusted Diluted EPS for the three month periods ended September 30, 2026 and 2025. The current-year adjustment reflects incremental SG&A expenses attributed to the amortization of intangible assets resulting from the Bachan’s acquisition. The prior-year adjustment reflects restructuring and impairment charges resulting from the closure of our sauce and dressing production facility in Milpitas, California.
(Unaudited, Dollars in thousands except per share data)ReportedSG&A Expenses
- Intangibles Amortization		Restructuring, Impairment and Other, NetAdjusted
(non-GAAP) *
Three Months Ended September 30, 2026
Operating Income$41,444 $2,409 $— $43,853 
Diluted EPS$1.07 $0.07 $— $1.14 
Three Months Ended September 30, 2025
Operating Income$59,260 $— $1,143 $60,403 
Diluted EPS$1.71 $— $0.03 $1.74 
Change:
Operating Income ($)$(17,816)$2,409 $(1,143)$(16,550)
Operating Income (%)(30.1)%N/M(100.0)%(27.4)%
Diluted EPS ($)$(0.64)$0.07 $(0.03)$(0.60)
Diluted EPS (%)(37.4)%N/M(100.0)%(34.5)%
* The sum of individual per share amounts may not add due to rounding.
# # # #

Source: View Original Filing on SEC EDGAR

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