Lancaster Colony Q4 Results Miss Estimates

(RTTNews) - Food company Lancaster Colony Corp. (LANC) reported on Thursday that net income for the fourth quarter soared to $34.83 million or $1.26 per share from $9.17 million or $0.33 per share in the year-ago quarter.

Net sales for the quarter edged down 0.4 percent to $452.83 million from $454.66 million for the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.40 per share on revenues of $463.11 million for the quarter. Analysts' estimates typically exclude special items.

"Looking ahead to fiscal 2025, we anticipate Retail segment sales will continue to benefit from volume growth led by our licensing program, including increased sales from the new products, flavors and sizes we introduced in fiscal 2024," said CEO David Ciesinski.

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