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.
Lancaster Colony Corporation (LANC) is a leading manufacturer and marketer of specialty food products, catering to both the retail and foodservice markets. Established in 1961, the company has built a strong reputation through its commitment to quality and innovation.
Core Business Segments:
- Retail: Lancaster Colony offers an array of products under well-known brands such as Cardini's, Girard's, Marzetti, Sister Schubert's, and New York Brand Bakery. Their portfolio includes salad dressings, sauces, frozen garlic breads, vegetable dips, fruit dips, frozen rolls, premium dry egg noodles, frozen specialty noodles, croutons, salad toppings, flatbread wraps, and pizza crusts.
- Foodservice: The company supplies a variety of food products to restaurants and institutional clients, ensuring consistent quality and catering to diverse culinary needs.
Product Segmentation:
- Non-frozen Foods: Representing approximately 70% of the company's net sales, this segment includes products like salad dressings, sauces, dips, croutons, and flatbread wraps.
- Frozen Foods: This segment encompasses frozen garlic breads, rolls, specialty noodles, and other frozen food items.
Recent Achievements and Partnerships:
Lancaster Colony is continually expanding its market presence through strategic partnerships and product innovations. For instance, their collaboration with Subway has been instrumental in enhancing their foodservice offerings.
Financial Health:
The company has a solid financial foundation, with robust sales and consistent growth in key markets. Lancaster Colony's prudent financial management and strategic investments ensure its sustainability and long-term success.
Commitment to Quality:
With a strong focus on quality control and customer satisfaction, Lancaster Colony ensures that every product meets the highest standards. Their dedication to excellence is reflected in their enduring consumer trust and loyalty.
Lancaster Colony (Nasdaq: LANC) has announced plans to acquire a sauce and dressing production facility in Atlanta, Georgia from Winland Foods for approximately $75 million. The transaction is expected to close in Q1 2025. The facility spans 300,000 square feet, with 250,000 square feet dedicated to manufacturing. The acquisition aims to improve operational efficiency, add capacity, and enhance proximity to core customers while strengthening manufacturing network continuity. The company determined this asset purchase as the most practical and cost-effective solution for their long-term business needs.
Lancaster Colony (Nasdaq: LANC) announced a quarterly cash dividend increase to 95 cents per common share, marking 62 consecutive years of increasing regular cash dividends. The dividend is payable December 31, 2024, to shareholders of record on December 5, 2024. The company's indicated annual payout for fiscal year ending June 30, 2025, will be $3.75 per share, up from $3.55 in fiscal 2024. Shareholders reelected three incumbent directors at the annual meeting. Lancaster Colony is among only 12 U.S. companies with 62 straight years of regular cash dividend increases, having paid 246 consecutive quarterly dividends since September 1963.
Lancaster Colony (LANC) reported fiscal first quarter results with record net sales of $466.6 million, up 1.1%. Retail segment sales declined 1.1% to $239.6 million, though excluding exited bakery lines, sales grew 1.4%. Foodservice segment sales increased 3.5% to $227.0 million. The company achieved record gross profit of $110.8 million, up 1.9%. Operating income decreased 1.6% to $55.9 million, while earnings per share improved to $1.62 from $1.59 year-over-year. Growth was driven by licensing programs including Subway sauces and Texas Roadhouse dinner rolls, along with increased demand from national chain restaurant customers.
Lancaster Colony (Nasdaq: LANC) has announced that it will release its first quarter fiscal year 2025 financial results before the market opens on Thursday, October 31, 2024. The company will also host a conference call at 10:00 am ET on the same day to review these results.
Interested parties can access the conference call via a live webcast on the company's website, www.lancastercolony.com. To participate, visitors should click on the webcast link on the home page and enter their registration information.
Lancaster Colony is known for manufacturing and marketing specialty food products for both retail and foodservice channels.
Lancaster Colony (Nasdaq: LANC) reported results for Q4 and fiscal year 2024. Q4 highlights:
- Net sales declined 0.4% to $452.8 million
- Gross profit increased $4.4 million to $97.6 million
- Operating income rose $30.2 million to $41.7 million
- Net income was $1.26 per diluted share vs $0.33 last year
Fiscal year 2024: Net sales increased 2.7% to $1.87 billion, with net income of $158.6 million ($5.76 per diluted share). The company anticipates continued growth in fiscal 2025, driven by licensing programs and new product introductions in the Retail segment, and growth from select quick-service restaurant customers in the Foodservice segment.
T. Marzetti Company, a subsidiary of Lancaster Colony (NASDAQ: LANC), is launching its first-ever gluten-free line of New York Bakery frozen bread. The new offering includes Gluten Free Garlic Texas Toast and Five Cheese Texas Toast, available nationwide this Fall. After a decade of research, the company developed a patent-pending dough recipe that maintains the texture and integrity of their regular products. The gluten-free Texas Toast is certified and produced in a dedicated gluten-free facility.
The launch addresses the growing demand for gluten-free options without compromising on flavor or consistency. The products will be initially available at Publix and Walmart, with plans to expand to Kroger and Albertsons. This innovation demonstrates T. Marzetti's commitment to quality and meeting evolving consumer needs in the gluten-free market.
Lancaster Colony (Nasdaq: LANC) has declared a quarterly cash dividend of 90 cents per common share, payable September 30, 2024, to shareholders of record on September 9, 2024. This maintains the higher dividend level set nine months ago, marking the company's 61st consecutive year of increased regular cash dividends. Lancaster Colony is one of only 13 U.S. companies with such a long streak of dividend increases.
The company also announced its annual shareholder meeting will be held virtually on November 6, 2024, at 1:00 p.m. ET. Shareholders of record as of September 9, 2024, will be able to participate, vote, and submit questions during the webcast. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice channels.
Lancaster Colony (Nasdaq: LANC) has announced it will release its fourth quarter and fiscal year 2024 financial results before the market opens on Thursday, August 22, 2024. The company will host a conference call at 10:00 am ET on the same day to review these results. Investors can access the webcast live via the company's website at www.lancastercolony.com by clicking the webcast link on the home page and registering. Lancaster Colony is a manufacturer and marketer of specialty food products for both retail and foodservice channels.
Lancaster Colony announced its Board of Directors declared a quarterly cash dividend of 90 cents per common share, to be paid on June 28, 2024, to shareholders of record as of June 7, 2024. This maintains the increased dividend level set six months ago and marks the company's 61st consecutive year of increased regular cash dividends. The annual payout for the current fiscal year ending June 30, 2024, is $3.55 per share, up from $3.35 per share in fiscal 2023. Lancaster Colony boasts a record of 244 consecutive quarterly cash dividends since September 1963. Approximately 27,527,000 common shares are currently outstanding.
Lancaster Colony reported increased consolidated net sales by 1.4% to $471.4 million in the fiscal third quarter, with Retail net sales improving by 0.3% and Foodservice net sales growing by 2.6%. Consolidated gross profit increased by 10.9% to $104.5 million, driven by pricing favorability, cost savings initiatives, and volume growth. The company decided to exit perimeter-of-the-store bakery product lines, resulting in a $2.6 million inventory write-down. CEO David A. Ciesinski expressed optimism for the Retail segment and continued volume growth in the Foodservice segment.
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