January 25, 2018 / 12:33 PM / 4 months ago

BRIEF-Lancaster Colony Reports Q2 EPS Of $1.67

Jan 25 (Reuters) - Lancaster Colony Corp:

* LANCASTER COLONY REPORTS SECOND QUARTER SALES AND EARNINGS

* Q2 EARNINGS PER SHARE $1.67

* Q2 SALES $319.7 MILLION VERSUS I/B/E/S VIEW $335.6 MILLION

* Q2 EARNINGS PER SHARE VIEW $1.30 — THOMSON REUTERS I/B/E/S

* FISCAL Q2 WAS MARKED BY “SEVERAL CHALLENGES”

* ESTIMATED FAVORABLE IMPACT OF TAX ACT ON Q2 NET INCOME WAS $14.5 MILLION, OR $.53 PER DILUTED SHARE

* LANCASTER COLONY - ‍ EXPECT FROZEN GARLIC BREAD PRODUCTS SALES TO REMAIN CONSTRAINED THROUGH END OF FISCAL Q3​

* LANCASTER COLONY - CONTINUED SLOWDOWN IN AWAY FROM HOME DINING,LOWER LEVELS OF LTO PROGRAM VOLUMES COMBINED TO IMPACT FOODSERVICE BUSINESS IN QUARTER

* NET SALES DECLINES WERE COMPOUNDED BY COMMODITY COST HEADWINDS AND INCREASED FREIGHT COSTS IN QUARTER

* ‍ADDITIONAL RETAIL PRICE INCREASES ARE PLANNED FOR EARLY IN Q4 OF FISCAL YEAR​

* ‍ IN COMING MONTHS, CO WILL ADD A PARMESAN RANCH FLAVOR TO RETAIL SEGMENT’S LINE OF OLIVE GARDEN DRESSINGS​

* EXPECT COMMODITY AND FREIGHT COSTS TO REMAIN ABOVE LAST YEAR’S LEVEL FOR BALANCE OF FISCAL YEAR Source text for Eikon: Further company coverage:

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