$172.770
+0.968 (+0.56%)Al cierre
Noticias de LANC
Eventos de LANC
Lancaster Colony reports Q3 EPS $1.49, consensus $1.58
Reports Q3 revenue $457.84M, consensus $483.9M. CEO David Ciesinski commented, "We were pleased to report third quarter records for gross profit and operating income. The 2.9% decline in consolidated net sales includes the unfavorable impacts of the perimeter-of-the-store bakery product lines we exited in March 2024 and the shift of some Retail segment sales into our fiscal fourth quarter due to the later Easter holiday. In addition, we experienced a more challenging consumer environment in our fiscal third quarter as evidenced by reduced traffic in the foodservice channel and some softening demand in the retail channel. Despite the headwinds, our Retail segment's licensing program remained a source for growth in the quarter as we began shipping Chick-fil-A sauce into the club channel; our Texas Roadhouse dinner rolls continued to perform very well; and the Subway sauces we introduced last March delivered incremental sales. Net sales for our category-leading New York Bakery frozen garlic bread products also improved. In our Foodservice segment, net sales decreased 3.2%, reflective of the industry-wide decline in store traffic and the impact of menu changes as some customers shifted to value offerings. Higher demand from some of our core national chain restaurant accounts helped to support Foodservice segment sales."
Lancaster Colony to acquire sauce and dressing production facility for $75M
Lancaster Colony "announced their planned acquisition of a sauce and dressing production facility located in Atlanta, Georgia from Winland Foods, Inc. This asset purchase transaction is expected to close in the first quarter of calendar year 2025, subject to customary closing conditions, with a purchase price of approximately $75 million. The production facility accounts for a total of approximately 300,000 square feet, of which approximately 250,000 square feet are designated for manufacturing."
Lancaster Colony raises quarterly dividend to 95c per share
Lancaster Colony announced that its board of directors has declared a quarterly cash dividend of 95c per common share, marking 62 consecutive years of increasing regular cash dividends. The company is one of only 12 U.S. companies with 62 straight years of regular cash dividend increases. The dividend will be payable December 31 to shareholders of record on December 5.
Lancaster Colony expects Retail segment sales benefit in 2025
Ciesinski commented, "Looking ahead to fiscal 2025, we anticipate Retail segment sales will continue to benefit from volume growth led by our licensing program, including increased sales from the new products, flavors and sizes we introduced in fiscal 2024. We are also excited to share that our partnership with Texas Roadhouse has expanded beyond steak sauces to include their popular dinner rolls, which we introduced with a regional pilot test in June. In addition, we anticipate continued positive sales momentum for our New York BRAND(R) Bakery frozen garlic bread products in fiscal 2025 driven by the introduction of a great-tasting gluten-free garlic bread, along with volume growth for our Marzetti(R) refrigerated dressings. In the Foodservice segment, we expect sales volume to be led by growth from select quick-service restaurant customers in our mix of national chain restaurant accounts, while external factors, including U.S. economic performance and consumer behavior, may impact demand. With respect to our input costs, in aggregate we do not foresee significant impacts from commodity cost inflation or deflation in the coming year. We also expect to drive margin improvement through our cost savings programs."
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