Latest news with #DavidA.Ciesinski
Business Wire
4 days ago
- Business
- Business Wire
The Marzetti Company Continues Higher Cash Dividend; Board of Directors Sets Annual Meeting Date and Time
WESTERVILLE, Ohio--(BUSINESS WIRE)--The Marzetti Company (Nasdaq: MZTI) announced today that its Board of Directors has declared a quarterly cash dividend of 95 cents per common share, payable September 30, 2025 to shareholders of record on September 8, 2025. The quarterly cash dividend amount of 95 cents per share maintains the higher level set nine months ago, which marked the company's 62 nd consecutive year of increased regular cash dividends. The Marzetti Company is one of only 12 U.S. companies with 62 straight years of regular cash dividend increases. CEO David A. Ciesinski said, 'The dividend reflects the company's continued strong financial position and will be the 249 th consecutive quarterly cash dividend paid by the company since September 1963.' The company also announced that its Board of Directors has set the date and time for the annual meeting of shareholders to be 1:00 p.m. ET, Wednesday, November 19, 2025. The annual meeting will be a virtual-only format via live webcast and shareholders will be able to participate, vote and submit questions during the virtual meeting. The record date for shareholders entitled to vote at the meeting is Monday, September 22, 2025. Shareholders of record will receive additional details and instructions for meeting participation in the proxy materials that will be made available to them in October. Access to the live webcast of the shareholder meeting will also be available through the company's website at Common shares currently outstanding are approximately 27,534,000. The Marzetti Company is a manufacturer and marketer of specialty food products for the retail and foodservice channels. Forward-Looking Statements We desire to take advantage of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 (the 'PSLRA'). This news release contains various 'forward-looking statements' within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words 'anticipate,' 'estimate,' 'project,' 'believe,' 'intend,' 'plan,' 'expect,' 'hope,' 'indicated' or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward-looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors, many of which are beyond our control, which could cause our actual results to differ materially from those expressed in the forward-looking statements. Some of the key factors that could cause actual results to differ materially from those expressed in the forward-looking statements include: changes in our cash flow or use of cash in various business activities; and risks related to other factors described under 'Risk Factors' in other reports and statements filed by us with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (available at Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements, except as required by law. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on statements that are based on current expectations.
Yahoo
14-05-2025
- Business
- Yahoo
Lancaster Colony Continues Higher Cash Dividend
WESTERVILLE, Ohio, May 14, 2025--(BUSINESS WIRE)--Lancaster Colony Corporation (Nasdaq: LANC) announced today that its Board of Directors has declared a quarterly cash dividend of 95 cents per common share, payable June 30, 2025 to shareholders of record on June 6, 2025. The quarterly cash dividend amount of 95 cents per share maintains the higher level set six months ago, which marked the company's 62nd consecutive year of increased regular cash dividends. Lancaster Colony is one of only 12 U.S. companies with 62 straight years of regular cash dividend increases. CEO David A. Ciesinski said, "The dividend reflects the company's continued strong financial position and will be the 248th consecutive quarterly cash dividend paid by the company since September 1963." He noted that the annual payout for the current fiscal year ending June 30, 2025 is $3.75 per share, up from the $3.55 per share paid in fiscal 2024. Common shares currently outstanding are approximately 27,530,000. Forward-Looking Statements We desire to take advantage of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). This news release contains various "forward-looking statements" within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words "anticipate," "estimate," "project," "believe," "intend," "plan," "expect," "hope," "indicated" or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward-looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors, many of which are beyond our control, which could cause our actual results to differ materially from those expressed in the forward-looking statements. Some of the key factors that could cause actual results to differ materially from those expressed in the forward-looking statements include: changes in our cash flow or use of cash in various business activities; and risks related to other factors described under "Risk Factors" in other reports and statements filed by us with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (available at Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements, except as required by law. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on such statements that are based on current expectations. View source version on Contacts Dale N. GanobsikVice President, Corporate Finance and Investor RelationsLancaster Colony CorporationPhone: 614/224-7141Email: ir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-04-2025
- Business
- Yahoo
Lancaster Colony (NASDAQ:LANC) Misses Q1 Sales Targets, Stock Drops
Specialty food company Lancaster Colony (NASDAQ:LANC) missed Wall Street's revenue expectations in Q1 CY2025, with sales falling 2.9% year on year to $457.8 million. Its GAAP profit of $0.95 per share was 39.8% below analysts' consensus estimates. Is now the time to buy Lancaster Colony? Find out in our full research report. Revenue: $457.8 million vs analyst estimates of $483.3 million (2.9% year-on-year decline, 5.3% miss) EPS (GAAP): $0.95 vs analyst expectations of $1.58 (39.8% miss) Operating Margin: 10.9%, up from 7.5% in the same quarter last year Sales Volumes were flat year on year (1.5% in the same quarter last year) Market Capitalization: $5.32 billion CEO David A. Ciesinski commented, 'We were pleased to report third quarter records for gross profit and operating income. The 2.9% decline in consolidated net sales includes the unfavorable impacts of the perimeter-of-the-store bakery product lines we exited in March 2024 and the shift of some Retail segment sales into our fiscal fourth quarter due to the later Easter holiday. In addition, we experienced a more challenging consumer environment in our fiscal third quarter as evidenced by reduced traffic in the foodservice channel and some softening demand in the retail channel. Despite the headwinds, our Retail segment's licensing program remained a source for growth in the quarter as we began shipping Chick-fil-A® sauce into the club channel; our Texas Roadhouse™ dinner rolls continued to perform very well; and the Subway® sauces we introduced last March delivered incremental sales. Net sales for our category-leading New York Bakery™ frozen garlic bread products also improved. In our Foodservice segment, net sales decreased 3.2%, reflective of the industry-wide decline in store traffic and the impact of menu changes as some customers shifted to value offerings. Higher demand from some of our core national chain restaurant accounts helped to support Foodservice segment sales.' Known for its frozen garlic bread and Parkerhouse rolls, Lancaster Colony (NASDAQ:LANC) sells bread, dressing, and dips to the retail and food service channels. Examining a company's long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. With $1.89 billion in revenue over the past 12 months, Lancaster Colony is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage with retailers. As you can see below, Lancaster Colony's 5.4% annualized revenue growth over the last three years was tepid, but to its credit, consumers bought more of its products. This quarter, Lancaster Colony missed Wall Street's estimates and reported a rather uninspiring 2.9% year-on-year revenue decline, generating $457.8 million of revenue. Looking ahead, sell-side analysts expect revenue to grow 4.7% over the next 12 months, similar to its three-year rate. This projection is underwhelming and implies its newer products will not accelerate its top-line performance yet. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) stock benefiting from the rise of AI. Click here to access our free report one of our favorites growth stories. Revenue growth can be broken down into changes in price and volume (the number of units sold). While both are important, volume is the lifeblood of a successful staples business as there's a ceiling to what consumers will pay for everyday goods; they can always trade down to non-branded products if the branded versions are too expensive. Lancaster Colony's average quarterly volume growth was a healthy 1.3% over the last two years. This is pleasing because it shows consumers are purchasing more of its products. In Lancaster Colony's Q1 2025, year on year sales volumes were flat. This result was a meaningful deceleration from its historical levels. We'll be watching closely to see if Lancaster Colony can reaccelerate demand for its products. We struggled to find many positives in these results. Its revenue missed significantly and its EPS fell short of Wall Street's estimates. Overall, this quarter could have been better. The stock traded down 5.3% to $182.72 immediately following the results. Lancaster Colony's earnings report left more to be desired. Let's look forward to see if this quarter has created an opportunity to buy the stock. When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
