Lancaster Colony Corporation (NASDAQ:LANC) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Lancaster Colony Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 2.11% to $0.93 in the quarter versus EPS of $0.95 in the year-earlier quarter.
Revenue: Decreased 1.81% to $269 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lancaster Colony Corporation reported adjusted EPS income of $0.93 per share. By that measure, the company missed the mean analyst estimate of $0.94. It missed the average revenue estimate of $282.93 million.
Quoting Management: Chairman and CEO John B. Gerlach, Jr. said, “While our fourth quarter results reflected challenging comparisons to a strong year-ago quarter, we were pleased with the year’s solid growth in sales and net income. Both of our operating segments achieved full-year improvements in net sales and operating income with recent product introductions helping to push Specialty Foods net sales over the $1 billion mark for the first time. Specialty Foods results also reflected modest improvement in both pricing and material costs.”
Key Stats (on next page)…
Revenue decreased 3.76% from $279.51 million in the previous quarter. EPS increased 16.25% from $0.80 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $1.05 and has not changed. For the current year, the average estimate is a profit of $3.99, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)