Lancaster Colony Corp. (LANC) Misses Q1 EPS by 43c
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Lancaster Colony Reports First Quarter Sales And Earnings
November 3, 2021 7:30 AM EDTWESTERVILLE, Ohio, Nov. 3, 2021 /PRNewswire/ -- Lancaster Colony Corporation (Nasdaq: LANC) today reported results for the company's fiscal first quarter ended September 30, 2021.
Summary
Consolidated net sales increased 12.3% to a first quarter record $392.1 million. Retail segment net sales grew 15.6% to $223.9 million while Foodservice segment net sales advanced 8.1% to $168.2 million. Consolidated gross profit was nearly flat at $92.4 million compared to $92.7 million last year. Consolidated operating income declined $8.4 million to $40.5 million. Note that last year's operating income was favorably impacted by a $5.7 million non-cash reduction in... More