Lancaster Colony trades lower as profit misses; Co. adds Texas Roadhouse to stable
Mizina/iStock via Getty Images Lancaster Colony Corporation ( NASDAQ: LANC ) fell more than 10% after missing estimates despite reporting record sa...
Mizina/iStock via Getty Images Lancaster Colony Corporation ( NASDAQ: LANC ) fell more than 10% after missing estimates despite reporting record sales. For the fiscal fourth quarter, non-GAAP EPS of $1.19 missed the average analyst estimate by $0.10. Revenue of $454.66M missed by $26.39M. 'Foodservice segment sales were also unfavorably impacted by slower traffic for some of our national chain restaurant account customers,' Chief Executive Officer David A. Ciesinski said in a statement. For fiscal 2024, the company anticipates retail segment sales will benefit from volume growth led by our licensing program.