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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 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.
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.
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