Lancaster Colony Corp Files 2024 10-K
Ticker: MZTI · Form: 10-K · Filed: Aug 22, 2024 · CIK: 57515
| Field | Detail |
|---|---|
| Company | Lancaster Colony CORP (MZTI) |
| Form Type | 10-K |
| Filed Date | Aug 22, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, food-specialties
TL;DR
Lancaster Colony Corp dropped its 2024 10-K. All the deets on their food biz.
AI Summary
Lancaster Colony Corporation filed its 10-K for the fiscal year ending June 30, 2024, reporting on its financial performance and business operations. The company, based in Westerville, Ohio, operates in the canned, frozen & preserved fruit, vegetable & food specialties sector. Key financial details and operational highlights are detailed within the extensive filing.
Why It Matters
This filing provides investors and stakeholders with a comprehensive overview of Lancaster Colony Corp's financial health and strategic direction for the past fiscal year, influencing investment decisions.
Risk Assessment
Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.
Key Numbers
- 20240630 — Fiscal Year End (The period covered by the 10-K filing.)
- 0630 — Fiscal Year End Month/Day (Indicates the end of the reporting period.)
Key Players & Entities
- Lancaster Colony Corp (company) — Filer of the 10-K
- 20240630 (date) — Fiscal year end
- Westerville, OH (location) — Company headquarters
- 0000057515 (company_id) — Central Index Key
FAQ
What is Lancaster Colony Corp's primary business sector?
Lancaster Colony Corp operates in the Canned, Frozen & Preserved Fruit, Veg & Food Specialties sector, as indicated by its Standard Industrial Classification code [2030].
Where is Lancaster Colony Corp headquartered?
The company's business and mailing address is 380 Polaris Parkway, Westerville, OH 43082.
What is the filing date of this 10-K report?
This 10-K report was filed on August 22, 2024.
What is the Central Index Key (CIK) for Lancaster Colony Corp?
The Central Index Key for Lancaster Colony Corp is 0000057515.
What is the SEC file number for Lancaster Colony Corp?
The SEC file number for Lancaster Colony Corp is 000-04065.
Filing Stats: 4,506 words · 18 min read · ~15 pages · Grade level 14.8 · Accepted 2024-08-22 07:43:30
Filing Documents
- lanc-20240630.htm (10-K) — 1777KB
- ex19-insidertradingpolic.htm (EX-19) — 22KB
- lanc-2024630exhibit21.htm (EX-21) — 10KB
- lanc-2024630exhibit23.htm (EX-23) — 3KB
- lanc-2024630exhibit311.htm (EX-31.1) — 10KB
- lanc-2024630exhibit312.htm (EX-31.2) — 10KB
- lanc-2024630exhibit32.htm (EX-32) — 8KB
- ex97-recoupmentofincenti.htm (EX-97) — 17KB
- ex19-insidertradingpolic001.jpg (GRAPHIC) — 183KB
- ex19-insidertradingpolic002.jpg (GRAPHIC) — 219KB
- ex19-insidertradingpolic003.jpg (GRAPHIC) — 194KB
- ex19-insidertradingpolic004.jpg (GRAPHIC) — 243KB
- ex19-insidertradingpolic005.jpg (GRAPHIC) — 270KB
- ex19-insidertradingpolic006.jpg (GRAPHIC) — 280KB
- ex19-insidertradingpolic007.jpg (GRAPHIC) — 60KB
- ex97-recoupmentofincenti001.jpg (GRAPHIC) — 209KB
- ex97-recoupmentofincenti002.jpg (GRAPHIC) — 248KB
- ex97-recoupmentofincenti003.jpg (GRAPHIC) — 255KB
- ex97-recoupmentofincenti004.jpg (GRAPHIC) — 253KB
- ex97-recoupmentofincenti005.jpg (GRAPHIC) — 77KB
- lanc-20240630_g1.jpg (GRAPHIC) — 102KB
- 0000057515-24-000020.txt ( ) — 14224KB
- lanc-20240630.xsd (EX-101.SCH) — 71KB
- lanc-20240630_cal.xml (EX-101.CAL) — 94KB
- lanc-20240630_def.xml (EX-101.DEF) — 396KB
- lanc-20240630_lab.xml (EX-101.LAB) — 811KB
- lanc-20240630_pre.xml (EX-101.PRE) — 688KB
- lanc-20240630_htm.xml (XML) — 1721KB
Risk Factors
Item 1A. Risk Factors 7
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 17
Cybersecurity
Item 1C. Cybersecurity 17
Properties
Item 2. Properties 18
Legal Proceedings
Item 3. Legal Proceedings 19
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 19 PART II
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20
[Reserved]
Item 6. [Reserved] 21
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 30
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 30
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 60
Controls and Procedures
Item 9A. Controls and Procedures 60
Other Information
Item 9B. Other Information 62
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 62 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 62
Executive Compensation
Item 11. Executive Compensation 62
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 62
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 62
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 62 PART IV
Exhibit and Financial Statement Schedules
Item 15. Exhibit and Financial Statement Schedules 63
Form 10-K Summary
Item 16. Form 10-K Summary 64
Signatures
Signatures 65 2 Table of Contents PART I
Business
Item 1. Business GENERAL DEVELOPMENT OF BUSINESS Company Overview Lancaster Colony Corporation, an Ohio corporation, is a manufacturer and marketer of specialty food products for the retail and foodservice channels. Our principal executive offices are located at 380 Polaris Parkway, Suite 400, Westerville, Ohio 43082 and our telephone number is 614-224-7141. Our vision is to be The Better Food Company – the industry leader in creating great tasting food and cultivating deep and lasting relationships with customers and consumers – while fulfilling our corporate purpose To Nourish Growth With All That We Do . Our company goals are to bring delicious food to the table and to deliver top quartile financial performance and top quartile product quality, safety and customer satisfaction while attracting, retaining and rewarding top quartile people. To achieve these goals, we are focused on the three pillars of our strategic growth plan: 1. Accelerate our base business growth; 2. Simplify our supply chain to reduce our costs and grow our margins; and 3. Expand our core business with our Retail licensing program and complementary mergers and acquisitions . As used in this Annual Report on Form 10-K and except as the context otherwise may require, the terms "we," "us," "our," "registrant," or "the Company" mean Lancaster Colony Corporation and its consolidated subsidiaries, except where it is clear that the term only means the parent company. Unless otherwise noted, references to "year" pertain to our fiscal year which ends on June 30; for example, 2024 refers to fiscal 2024, which is the period from July 1, 2023 to June 30, 2024. Available Information Our Internet website address is https://www.lancastercolony.com. Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge throug
Risk Factors
Item 1A. Risk Factors An investment in our common stock is subject to certain risks inherent in our business. Before making an investment decision, investors should carefully consider the risks and uncertainties described below, together with all of the other information included or incorporated by reference in this Annual Report on Form 10-K. If any of the following risks occur, our business, results of operations, financial condition and cash flows could be materially and adversely affected. These described risks are not the only risks facing us. Additional risks and uncertainties not known to us or that we deem to be immaterial also may materially adversely affect our business, results of operations, financial condition and cash flows. If any of these risks were to materialize, the value of our common stock could decline significantly. RISKS RELATED TO HEALTH AND FOOD SAFETY We may be subject to business disruptions, product recalls or other claims for real or perceived safety issues regarding our food products. We have been, and in the future may be, impacted by both real and unfounded claims regarding the safety of our operations, or concerns regarding mislabeled, adulterated, contaminated or spoiled food products. Any of these circumstances could necessitate a voluntary or mandatory recall due to a substantial product hazard, a need to change a product's labeling or other consumer safety concerns. A pervasive product recall may result in significant loss due to the costs of a recall, related legal claims, including claims arising from bodily injury or illness caused by our products, the destruction of product inventory, or lost sales due to product unavailability. A highly publicized product recall, whether involving us or any related products made by third parties, also could result in a loss of customers or an unfavorable change in consumer sentiment regarding our products or any category in which we operate. In addition, an allegation of noncompliance