Lancaster Colony Q2 sales record $428.4M (+14.2% YoY) but EPS drops to $1.25 from $1.62

MARZETTI CO

2022-Q2 EPS reported $2.36 revenue$820,483,000

Net sales $428.4M (+14.2% YoY); retail up 10.1% to $245.1M, foodservice up 20.3% to $183.3M.
Diluted EPS $1.25 vs $1.62; net income $34.4M vs $44.7M last year.
Gross profit fell $10.2M to $96.6M due to unprecedented commodity, freight, and labor inflation.
Restructuring charges $1.9M from closing frozen garlic bread facility in Baldwin Park, CA.
Guidance: Q3 sees continued cost headwinds; pricing and cost savings partially offsetting.

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