Lancaster Colony Q1 EPS $1.36 beats $1.11; sales up 8.5% to record $425.5M

MARZETTI CO

2023-Q1 EPS reported $1.36 revenue$425,537,000

Net sales rose 8.5% to $425.5M; Retail down 0.3% to $223.2M, Foodservice up 20.3% to $202.3M.
Gross profit up 7.2% to $99.1M; margin 23.3%, up 150 bps sequentially from Q4.
Net income $37.6M ($1.36 diluted) vs $30.7M ($1.11) YoY; operating income up 21.7% to $49.3M.
ERP project costs reduced EPS by $0.26; $25M sales shift due to advance orders ahead of ERP go-live.
CEO expects Q2 benefit from licensing and QSR volume growth, but cost inflation and startup costs in Kentucky.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARZETTI CO reported three months ended September 30, 2022 results: revenue $425.5 million, net income $37.6 million, or $1.36 per diluted share, EPS $1.36 per diluted share.

Period: three months ended September 30, 2022
Revenue: $425.5 million
Net income: $37.6 million, or $1.36 per diluted share
EPS: $1.36 per diluted share
Result: reported results

Exact text from the filing

(Nasdaq: LANC) today reported results for the company’s fiscal first quarter ended September 30, 2022. Summary • Consolidated net sales increased 8.5% to a first quarter record $425.5 million. Retail segment net sales declined 0.3% to $223.2 million while Foodservice segment net sales advanced 20.3% to $202.3 million. • First quarter net sales were unfavorably

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Source: SEC EDGAR

accession 0000057515-22-000021

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