Lancaster Colony Reports Second Quarter Sales and Earnings
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Lancaster Colony Corp. (LANC) Tops Q2 EPS by 18c, Revenues Beat
February 4, 2021 7:37 AM ESTLancaster Colony Corp. (NASDAQ: LANC) reported Q2 EPS of $1.62, $0.18 better than the analyst estimate of $1.44. Revenue for the quarter came in at $375 million versus the consensus estimate of $362.82 million.
Summary
Consolidated net sales increased 5.6% to a second quarter record $375.0 million versus $355.1 million last year. Retail net sales grew 19.5% to $222.6 million while Foodservice net sales declined 9.7% to $152.4 million.Excluding all Omni Baking sales attributed to a temporary supply agreement that was terminated effective October 31, 2020, consolidated net sales increased 7.3%.Consolidated gross profit increased 7.0% to a second quarter record... More