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 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.
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.
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