Lancaster, Ohio – Lancaster Colony Corporation recently held its Q3 2024 Earnings Call to discuss the company’s performance in the fiscal year. The call featured key company executives, including Vice President of Corporate Finance and Investor Relations Dale Ganobsik, President and CEO Dave Ciesinski, and CFO Tom Pigott. The discussion focused on the company’s financial results and strategies moving forward.

During the call, Ciesinski highlighted the company’s record net sales and gross profit in the fiscal third quarter, with a focus on the growth in the retail segment driven by licensed items such as Chick-fil-A sauces and dressings, Olive Garden dressings, Subway sandwich sauces, and Texas Roadhouse steak sauces. The company’s food service segment also experienced growth in sales volume, with a focus on national chain restaurant accounts.

Ciesinski also addressed the recent decision to exit certain product lines, including Flatout and Angelic Bakehouse, due to operational and financial challenges. The company is now focusing on strategic areas where they have a competitive edge, such as dressings, sauces, and frozen bakery products.

The CFO, Tom Pigott, provided further insights into the financial performance of the company, highlighting the increase in consolidated net sales and gross profit. The company’s focus on cost savings initiatives, automation, and strategic procurement has been key to driving profitability and operational efficiency.

Looking ahead, the company remains optimistic about its growth prospects, particularly in the QSR segment where they have strong partnerships with brands like Chick-fil-A. The company’s consumer-relevant innovation, smart cost management, and focus on execution are expected to drive continued success in the coming quarters.

Overall, Lancaster Colony Corporation remains committed to delivering value to its shareholders and maintaining its position as a leader in the food industry.