Lancaster Colony Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Lancaster Colony Corp. filed its Q3 2024 10-Q report on May 2, 2024.</b>

AI Summary

LANCASTER COLONY CORP (MZTI) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Lancaster Colony Corp. filed a 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on June 30th. The filing was made on May 2, 2024. Lancaster Colony Corp. is 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 provides investors with the latest financial performance and operational updates for Lancaster Colony Corp. for the third quarter of fiscal year 2024. Understanding the details within this filing is crucial for assessing the company's current financial health, strategic direction, and potential future performance.

Risk Assessment

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

Analyst Insight

Monitor future filings for revenue growth and net income trends in the canned, frozen, and preserved food specialties sector.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-02 — Filing Date (FILED AS OF DATE)
• 0630 — Fiscal Year End (FISCAL YEAR END)
• Q3 — Quarter (Filing Quarter)

Key Players & Entities

• LANCASTER COLONY CORP (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-02 (date) — FILED AS OF DATE
• OH (location) — STATE OF INCORPORATION
• 131955943 (identifier) — IRS NUMBER
• 0000057515 (identifier) — CENTRAL INDEX KEY
• 2030 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• WESTERVILLE (location) — BUSINESS ADDRESS CITY

FAQ

Industry Context

Lancaster Colony Corp. operates within the food specialties sector, specifically in canned, frozen, and preserved fruits, vegetables, and other food products.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze segment performance if provided in the full report to understand revenue drivers.
3. Compare key financial metrics to previous quarters and the same quarter in the prior year.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the specified period; no prior filing data is available for comparison within this context.

Filing Documents

• lanc-20240331.htm (10-Q) — 901KB
• lanc-2024331xexhibit311.htm (EX-31.1) — 11KB
• lanc-2024331xexhibit312.htm (EX-31.2) — 12KB
• lanc-2024331xexhibit32.htm (EX-32) — 7KB
• 0000057515-24-000012.txt (&nbsp;) — 3905KB
• lanc-20240331.xsd (EX-101.SCH) — 23KB
• lanc-20240331_cal.xml (EX-101.CAL) — 48KB
• lanc-20240331_def.xml (EX-101.DEF) — 74KB
• lanc-20240331_lab.xml (EX-101.LAB) — 284KB
• lanc-20240331_pre.xml (EX-101.PRE) — 196KB
• lanc-20240331_htm.xml (XML) — 538KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited): Condensed Consolidated Balance Sheets – March 31, 202 4 and June 30, 2023 3 Condensed Consolidated Statements of Income – Three and Nine Months Ended March 31, 202 4 and 202 3 4 Condensed Consolidated Statements of Comprehensive Income – Three and Nine Months Ended March 31, 202 4 and 202 3 5 Condensed Consolidated Statements of Cash Flows – Nine Months Ended March 31, 202 4 and 202 3 6 Condensed Consolidated Statements of Shareholders' Equity – Nine Months Ended Marc h 31, 202 4 and 202 3 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 21

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) March 31, 2024 June 30, 2023 ASSETS Current Assets: Cash and equivalents $ 164,756 $ 88,473 Receivables 102,637 114,967 Inventories: Raw materials 41,758 40,761 Finished goods 119,330 117,504 Total inventories 161,088 158,265 Other current assets 12,250 12,758 Total current assets 440,731 374,463 Property, Plant and Equipment: Property, plant and equipment-gross 873,976 853,709 Less accumulated depreciation 390,314 371,503 Property, plant and equipment-net 483,662 482,206 Other Assets: Goodwill 208,371 208,371 Other intangible assets-net — 4,840 Operating lease right-of-use assets 18,839 24,743 Other noncurrent assets 20,409 18,371 Total $ 1,172,012 $ 1,112,994 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 120,528 $ 111,758 Accrued liabilities 69,258 56,994 Total current liabilities 189,786 168,752 Noncurrent Operating Lease Liabilities 11,508 16,967 Other Noncurrent Liabilities 15,218 17,683 Deferred Income Taxes 42,648 47,325 Commitments and Contingencies Shareholders' Equity: Preferred stock-authorized 3,050,000 shares; outstanding- none Common stock-authorized 75,000,000 shares; outstanding-March- 27,527,412 shares; June- 27,527,550 shares 151,178 143,870 Retained earnings 1,554,635 1,503,963 Accumulated other comprehensive loss ( 9,139 ) ( 9,365 ) Common stock in treasury, at cost ( 783,822 ) ( 776,201 ) Total shareholders' equity 912,852 862,267 Total $ 1,172,012 $ 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 March 31, Nine Months Ended March 31, (Amounts in thousands, except per share data) 2024 2023 2024 2023 Net Sales $ 471,44

View Full Filing

View this 10-Q filing on SEC EDGAR