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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 (Nasdaq: LANC) will announce its fourth quarter and fiscal year 2021 financial results on August 26, 2021, before market opening. A conference call for discussing these results will be held at 10:00 am ET on the same day, which will be available via a live webcast on the company's website. Lancaster Colony is known for manufacturing and marketing specialty food products for both retail and foodservice sectors.
Lancaster Colony Corporation (Nasdaq: LANC) announced a quarterly cash dividend of 75 cents per share, payable on June 30, 2021, to shareholders of record on June 9, 2021. This maintains the higher dividend level set six months ago, marking the company's 58th consecutive year of increased dividends. The current fiscal year's annual payout is $2.95 per share, up from $2.75 in fiscal 2020. CEO David A. Ciesinski highlighted the company's strong financial position as a factor in this decision, reflecting continued shareholder confidence.
Lancaster Colony Corporation (LANC) reported a strong fiscal Q3 2021, with consolidated net sales reaching a record $357.2 million, an 11.2% increase from the previous year. Retail sales grew 17.1%, driven by popular licensed products, while Foodservice sales increased 4.6%. Gross profit rose 17.7% to $90.6 million, and operating income was up 24.7% to $37.4 million. Net income for the quarter was $28.9 million, or $1.05 per diluted share. Looking ahead, the company anticipates continued growth in Retail and improved Foodservice sales as consumer demand rises with the easing of COVID-19 restrictions.
Lancaster Colony Corporation (Nasdaq: LANC) will release its third quarter fiscal 2021 financial results on May 4, 2021, before market opening. A conference call is scheduled for the same day at 10:00 am ET to discuss the results. The call will be available via webcast on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice sectors.
Lancaster Colony Corporation (Nasdaq: LANC) has declared a quarterly cash dividend of 75 cents per share, payable on March 31, 2021, to shareholders of record as of March 9, 2021. This maintains the increased dividend level set three months ago, marking the 58th consecutive year of regular cash dividend increases. The indicated annual payout for the fiscal year ending June 30, 2021 is $2.95 per share, up from $2.75 in fiscal 2020. The company has paid 231 consecutive quarterly cash dividends since September 1963.
Lancaster Colony Corporation (Nasdaq: LANC) announced the appointment of Elliot K. Fullen to its Board of Directors, effective Feb. 24, 2021. Fullen, a Senior Advisor at Arsenal Capital Partners, brings over 30 years of experience in corporate strategy, mergers and acquisitions, and supply chain management. His previous roles include Vice President at Hexion Specialty Chemicals. Lancaster's Chairman, John B. Gerlach, Jr., emphasized Fullen's diverse expertise, which will enhance the Board's capabilities to drive business growth and better serve stakeholders.
Lancaster Colony Corporation (LANC) reported a record fiscal Q2 net sales of $375.0 million, up 5.6% from $355.1 million last year. Retail sales soared 19.5% to $222.6 million, driven by increased at-home food consumption during COVID-19 and strong sales of licensed products. However, Foodservice sales declined 9.7% to $152.4 million. Gross profit rose 7.0% to $106.8 million, and operating income increased 8.4% to $58.6 million. Net income showed slight growth at $1.62 per diluted share, impacted by higher manufacturing costs and Project Ascent expenditures.
Lancaster Colony Corporation (Nasdaq: LANC) will release its second quarter fiscal 2021 financial results on February 4, 2021, before market opening. A conference call will follow at 10:00 am ET to discuss these results, which will be available for live webcasting on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice sectors.
Lancaster Colony Corporation (LANC) announced a quarterly cash dividend of 75 cents per share, continuing its streak of 58 consecutive years of dividend increases. This dividend will be paid on December 31, 2020 to shareholders recorded by December 7, 2020. The indicated annual payout for the fiscal year ending June 30, 2021 is $2.95 per share, up from $2.75 in fiscal 2020. Additionally, three incumbent directors were reelected at the annual meeting, further demonstrating the company's stability.
Lancaster Colony Corporation (LANC) reported fiscal Q1 2021 results, showing a 3.6% increase in consolidated net sales to $349.2 million, with retail net sales up 16.6% to $193.7 million due to pandemic-driven demand for at-home food consumption. However, foodservice sales declined 9.0% to $155.5 million. Gross profit rose slightly to $92.7 million, affected by higher manufacturing costs. Operating income dropped to $48.9 million, with net income down $3.7 million to $37.1 million, equating to $1.35 per diluted share. The company maintained its cash dividend at $0.70 per share.
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