Lancaster Colony Corp. (LANC) Q2 Revenue Misses Views

Lancaster Colony Corp. (NASDAQ: LANC) reported Q2 EPS of $1.67, may not compare to the analyst estimate of $1.30. Revenue for the quarter came in at $319.7 million versus the consensus estimate of $334.91 million.

The taxes based on income amount of only $1.8 million in the current-year quarter reflects the favorable impact of the Tax Cuts and Jobs Act of 2017 ("Tax Act"), which includes the cumulative effect of both a lower federal income tax rate and a one-time benefit of $9 million resulting from the preliminary re-measurement of our net deferred tax liability. The estimated favorable impact of the Tax Act on second quarter net income was $14.5 million, or $.53 per diluted share.

For earnings history and earnings-related data on Lancaster Colony Corp. (LANC) click here.

You May Also Be Interested In

• Jefferies upgrades Shopify to Buy on AI commerce tailwinds, sees 30% upside
• JPMorgan Starts Shinsegae Inc (004170:KS) at Overweight
• Delta Air Lines (DAL) Tops Q2 EPS by 3c, Beats on Revenue; Offers Guidance