Lancaster Colony Corp. (LANC) Misses Q3 EPS by 19c, Revenue Beats
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Lancaster Colony Reports Third Quarter Sales And Earnings
May 4, 2021 7:30 AM EDTWESTERVILLE, Ohio, May 4, 2021 /PRNewswire/ -- Lancaster Colony Corporation (Nasdaq: LANC) today reported results for the company's fiscal third quarter ended March 31, 2021.
Summary
Consolidated net sales increased 11.2% to a third quarter record $357.2 million versus $321.4 million last year. Retail net sales grew 17.1% to $198.4 million while Foodservice net sales advanced 4.6% to $158.9 million. Excluding all Omni Baking sales attributed to a temporary supply agreement that was terminated effective October 31, 2020, consolidated net sales increased 13.0%. Consolidated gross profit increased 17.7% to $90.6 million. Consolidated operating income grew 24.7% to $37.4... More