Lancaster Colony Corp Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Lancaster Colony Corp filed its Q2 FY2024 10-Q report on February 1, 2024, detailing financial performance for the period ending December 31, 2023.</b>

AI Summary

LANCASTER COLONY CORP (MZTI) filed a Quarterly Report (10-Q) with the SEC on February 1, 2024. Lancaster Colony Corp filed a 10-Q report for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on June 30th. The filing was made on February 1, 2024. The company is incorporated in Ohio and operates in the Canned, Frozen & Preserved Fruit, Veg & Food Specialties industry.

Why It Matters

For investors and stakeholders tracking LANCASTER COLONY CORP, this filing contains several important signals. This 10-Q filing provides investors with an updated view of Lancaster Colony Corp's financial health and operational performance for the second quarter of fiscal year 2024. The detailed financial information within the report is crucial for stakeholders to assess the company's profitability, liquidity, and overall financial position, enabling informed investment decisions.

Risk Assessment

Risk Level: low — LANCASTER COLONY CORP shows low risk based on this filing. The filing is a routine quarterly report (10-Q) and does not indicate any unusual events or significant deviations from normal business operations, suggesting a low level of immediate risk.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand performance trends and identify any potential areas of concern or opportunity.

Key Numbers

• 2023-12-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-02-01 — Filing Date (FILED AS OF DATE)
• 2023-07-01 to 2023-12-31 — Reporting Period (Fiscal Year 2024, Second Quarter)
• 2022-07-01 to 2022-12-31 — Prior Year Period (Fiscal Year 2023, Second Quarter)

Key Players & Entities

• LANCASTER COLONY CORP (company) — FILER
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240201 (date) — FILED AS OF DATE
• OH (location) — STATE OF INCORPORATION
• 0630 (date) — FISCAL YEAR END
• 1934 Act (regulation) — SEC ACT
• WESTERVILLE (location) — CITY
• 6142247141 (phone) — BUSINESS PHONE

FAQ

Key Dates

• 2024-02-01: 10-Q Filing — Report filed for the period ending December 31, 2023.
• 2023-12-31: Fiscal Period End — End date for the financial reporting period covered by the 10-Q.
• 2023-07-01: Fiscal Year Start — Beginning of the fiscal year for which Q2 results are reported.
• 2024-01-12: XBRL Instance Document Filing — Indicates the filing of the XBRL data associated with the report.

Filing Documents

• lanc-20231231.htm (10-Q) — 853KB
• lanc-20231231xexhibit311.htm (EX-31.1) — 11KB
• lanc-20231231xexhibit312.htm (EX-31.2) — 12KB
• lanc-20231231xexhibit32.htm (EX-32) — 7KB
• 0000057515-24-000006.txt (&nbsp;) — 3877KB
• lanc-20231231.xsd (EX-101.SCH) — 23KB
• lanc-20231231_cal.xml (EX-101.CAL) — 47KB
• lanc-20231231_def.xml (EX-101.DEF) — 75KB
• lanc-20231231_lab.xml (EX-101.LAB) — 312KB
• lanc-20231231_pre.xml (EX-101.PRE) — 200KB
• lanc-20231231_htm.xml (XML) — 529KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited): Condensed Consolidated Balance Sheets – December 31 , 2023 and June 30, 2023 3 Condensed Consolidated Statements of Income – Three and Six Months Ended December 31 , 2023 and 2022 4 Condensed Consolidated Statements of Comprehensive Income – Three and Six Months Ended December 31 , 2023 and 2022 5 Condensed Consolidated Statements of Cash Flows – Six Months Ended December 31 , 2023 and 2022 6 Condensed Consolidated Statements of Shareholders' Equity – Six Months Ended December 31 , 2023 and 2022 7 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 22

– OTHER INFORMATION

PART II – OTHER INFORMATION 23

Legal Proceedings

Item 1. Legal Proceedings 23

Risk Factors

Item 1A. Risk Factors 23

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23

Exhibits

Item 6. Exhibits 23

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements LANCASTER COLONY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Amounts in thousands, except share data) December 31, 2023 June 30, 2023 ASSETS Current Assets: Cash and equivalents $ 133,848 $ 88,473 Receivables 100,188 114,967 Inventories: Raw materials 47,336 40,761 Finished goods 110,856 117,504 Total inventories 158,192 158,265 Other current assets 13,171 12,758 Total current assets 405,399 374,463 Property, Plant and Equipment: Property, plant and equipment-gross 879,747 853,709 Less accumulated depreciation 389,356 371,503 Property, plant and equipment-net 490,391 482,206 Other Assets: Goodwill 208,371 208,371 Other intangible assets-net 4,576 4,840 Operating lease right-of-use assets 20,976 24,743 Other noncurrent assets 19,212 18,371 Total $ 1,148,925 $ 1,112,994 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 104,114 $ 111,758 Accrued liabilities 59,262 56,994 Total current liabilities 163,376 168,752 Noncurrent Operating Lease Liabilities 13,323 16,967 Other Noncurrent Liabilities 15,723 17,683 Deferred Income Taxes 48,177 47,325 Commitments and Contingencies Shareholders' Equity: Preferred stock-authorized 3,050,000 shares; outstanding- none Common stock-authorized 75,000,000 shares; outstanding-December- 27,521,158 shares; June- 27,527,550 shares 149,290 143,870 Retained earnings 1,551,143 1,503,963 Accumulated other comprehensive loss ( 9,214 ) ( 9,365 ) Common stock in treasury, at cost ( 782,893 ) ( 776,201 ) Total shareholders' equity 908,326 862,267 Total $ 1,148,925 $ 1,112,994 See accompanying notes to condensed consolidated financial statements. 3 LANCASTER COLONY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Ended December 31, Six Months Ended December 31, (Amounts in thousands, except per share data) 2023 2022 2023 2022 Net

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View this 10-Q filing on SEC EDGAR