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Dec 31, 2019
Lancaster Colony Q2 2020 Earnings Report
Lancaster Colony reported record sales and strong gross margin improvement in the second quarter of 2020.
Key Takeaways
Lancaster Colony Corporation reported a 1.6% increase in consolidated net sales, reaching a second quarter record of $355.1 million. Gross profit also increased by 9.3% to $99.9 million. However, consolidated operating income declined by $7.1 million to $54.1 million, and net income decreased by $4.5 million to $43.4 million, which was influenced by ERP expenses.
Consolidated net sales increased 1.6% to a second quarter record $355.1 million.
Consolidated gross profit grew 9.3% to $99.9 million.
Foodservice net sales grew 3.4% to $168.9 million.
The company’s balance sheet remained debt free with $202.2 million in cash and equivalents.
Lancaster Colony
Lancaster Colony
Lancaster Colony Revenue by Segment
Revenue by Segment
Retail Revenue
CapyFin.comFoodservice Revenue
CapyFin.com Forward Guidance
Looking ahead to the second half of our fiscal year, we will remain focused on our core strategic initiatives to grow our base business and reduce costs throughout our supply chain.
Positive Outlook
- Focusing on core strategic initiatives to grow our base business.
- Reducing costs throughout our supply chain.
- Launching new products sold to the retail channel under license agreements with a growing number of our national chain restaurant customers.
- ERP initiative is progressing as planned.
- Initial deployment expected to commence in the first half of fiscal 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income