Lancaster Colony Q2 record sales $485.9M, EPS $1.87 vs $1.45

MARZETTI CO

2024-Q2 EPS reported $3.47 revenue$947,488,000

Consolidated net sales up 1.8% to a Q2 record $485.9M; gross profit up 19% to $121.5M.
Diluted EPS $1.87 vs $1.45; operating income up 28.1% to a Q2 record $65.8M.
Retail segment sales +2.0% to $264.0M; Foodservice +1.5% to $221.9M despite deflationary pricing.
Six-month EPS $3.47 vs $2.81; Project Ascent ERP costs reduced EPS by $0.16 vs $0.47 last year.
Gross margin improved 360 bps to 25.0% driven by favorable pricing net of commodity costs.

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