Specialty food company Lancaster Colony (NASDAQ:LANC) will be reporting earnings tomorrow before market open. Here’s what you need to know.
Lancaster Colony missed analysts’ revenue expectations by 2% last quarter, reporting revenues of $452.8 million, flat year on year. It was a softer quarter for the company, with a miss of analysts’ EBITDA estimates.
Is Lancaster Colony a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Lancaster Colony’s revenue to grow 1.5% year on year to $468.4 million, slowing from the 8.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.67 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lancaster Colony has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Lancaster Colony’s peers in the shelf-stable food segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Simply Good Foods delivered year-on-year revenue growth of 17.2%, meeting analysts’ expectations, and General Mills reported a revenue decline of 1.2%, in line with consensus estimates. Simply Good Foods traded up 3.8% following the results while General Mills’s stock price was unchanged.
Read our full analysis of Simply Good Foods’s results here and General Mills’s results here.
Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices flat over the last month. Lancaster Colony is up 3.2% during the same time and is heading into earnings with an average analyst price target of $197.60 (compared to the current share price of $182.88).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
