Lancaster Colony falls on Q4 results miss

Marzetti Co

23/08/2023 15:58

** Shares of manufacturer and marketer of specialty food
products Lancaster Colony  LANC.O  down 9.5% at $165.20
    ** Co reports Q4 profit of $0.33 per share vs  profit of
$1.06 per share last year; also missing profit ests of $1.29 per
share - Refinitiv 
    ** Posts Q4 net sales of $454.7 mln, below analysts ests of
$481.1 mln
    ** Impairment charges reduced Q4 net income by $0.70 per
diluted share - co; projects impact of inflationary costs to
subside notably in coming year
    ** LANC shares down 16.07% YTD


 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))