Lancaster Colony Q3 record sales $471.4M; EPS $1.03 vs $0.89; exits Flatout/Angelic Bakehouse

MARZETTI CO

2024-Q3 EPS reported $4.50 revenue$1,418,934,000

Consolidated net sales record $471.4M (+1.4% YoY); Retail $248.1M (+0.3%), Foodservice $223.4M (+2.6%).
Diluted EPS $1.03 vs $0.89; exit costs reduced net income by $0.41/share ($11.3M after-tax).
Gross profit $104.5M (+10.9%); margin expanded 190 bps to 22.2%.
Exiting Flatout and Angelic Bakehouse perimeter-of-store bakery lines; $12.1M restructuring/impairment charges + $2.6M inventory write-down.
Project Ascent ERP spending fell to $1.9M vs $7.6M last year; SG&A down $7.6M.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARZETTI CO reported financial results for three and nine months ended March 31, 2024.

Period: three and nine months ended March 31, 2024
Result: reported results

Exact text from the filing

On May 2, 2024, Lancaster Colony Corporation issued a press release announcing its results for the three and nine months ended March 31, 2024.

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Source: SEC EDGAR

accession 0000057515-24-000010

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