Lancaster Colony Earnings: Here’s Why Investors are Buying Shares Now
Lancaster Colony Corporation (NASDAQ:LANC) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1%.
Lancaster Colony Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 19.4% to $0.80 in the quarter versus EPS of $0.67 in the year-earlier quarter.
Revenue: Rose 3.1% to $279.51 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lancaster Colony Corporation reported adjusted EPS income of $0.80 per share. By that measure, the company missed the mean analyst estimate of $0.81. It missed the average revenue estimate of $280.25 million.
Quoting Management: John B. Gerlach, Jr., chairman and CEO, said, “We were again pleased to achieve improved operating income in both our business segments. It was also encouraging to see continued growth in Specialty Foods sales during a period of unsettled consumer demand. Lower material and promotional costs further contributed to the quarterly improvement.”
Key Stats (on next page)…