$LANC
LANCASTER COLONY CORP

2022 Q4 Form 10-Q Financial Statement

#000005751522000022 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $477.4M $425.5M $392.1M
YoY Change 11.43% 8.54% 12.26%
Cost Of Revenue $375.3M $326.5M $299.7M
YoY Change 13.1% 8.94% 16.8%
Gross Profit $102.1M $99.06M $92.37M
YoY Change 5.69% 7.24% -0.31%
Gross Profit Margin 21.39% 23.28% 23.56%
Selling, General & Admin $50.78M $49.76M $51.86M
YoY Change -1.48% -4.05% 7.59%
% of Gross Profit 49.73% 50.23% 56.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.81M $11.20M $11.26M
YoY Change 1.96% -0.52% 8.19%
% of Gross Profit 11.57% 11.31% 12.19%
Operating Expenses $50.78M $49.76M $51.86M
YoY Change -1.48% -4.05% 7.59%
Operating Profit $51.33M $49.30M $40.51M
YoY Change 13.29% 21.69% -17.24%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $478.0K -$270.0K $20.00K
YoY Change 330.63% -1450.0% 400.0%
Pretax Income $51.81M $49.03M $40.53M
YoY Change 14.07% 20.96% -17.2%
Income Tax $11.83M $11.44M $9.876M
% Of Pretax Income 22.84% 23.33% 24.37%
Net Earnings $39.97M $37.59M $30.66M
YoY Change 16.3% 22.63% -17.33%
Net Earnings / Revenue 8.37% 8.83% 7.82%
Basic Earnings Per Share $1.45 $1.37 $1.11
Diluted Earnings Per Share $1.45 $1.36 $1.114M
COMMON SHARES
Basic Shares Outstanding 27.55M shares 27.52M shares 27.46M shares
Diluted Shares Outstanding 27.49M shares 27.46M shares 27.52M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $95.49M $64.22M $130.1M
YoY Change -16.25% -50.63% -30.1%
Cash & Equivalents $95.49M $64.22M $130.1M
Short-Term Investments
Other Short-Term Assets $11.82M $11.40M $13.03M
YoY Change -23.57% -12.51% -11.72%
Inventory $139.4M $165.9M $158.4M
Prepaid Expenses
Receivables $126.9M $136.2M $108.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $373.6M $377.8M $409.9M
YoY Change -4.05% -7.82% 0.35%
LONG-TERM ASSETS
Property, Plant & Equipment $481.1M $468.1M $392.0M
YoY Change 14.07% 19.4% 30.91%
Goodwill $208.4M $208.4M $208.4M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.74M $17.95M $23.09M
YoY Change -23.89% -22.25% 19.38%
Total Long-Term Assets $763.5M $753.4M $705.3M
YoY Change 4.48% 6.83% 14.5%
TOTAL ASSETS
Total Short-Term Assets $373.6M $377.8M $409.9M
Total Long-Term Assets $763.5M $753.4M $705.3M
Total Assets $1.137B $1.131B $1.115B
YoY Change 1.52% 1.44% 8.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $131.7M $135.4M $127.8M
YoY Change 3.07% 5.96% 46.45%
Accrued Expenses $48.48M $55.55M $52.03M
YoY Change 7.59% 6.75% -1.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $180.2M $190.9M $179.8M
YoY Change 4.25% 6.19% 28.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $19.47M $19.78M $27.50M
YoY Change -21.0% -28.06% 6.08%
Total Long-Term Liabilities $19.47M $19.78M $27.50M
YoY Change -21.0% -28.06% 6.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $180.2M $190.9M $179.8M
Total Long-Term Liabilities $19.47M $19.78M $27.50M
Total Liabilities $199.6M $210.7M $207.3M
YoY Change 1.1% 1.65% 25.07%
SHAREHOLDERS EQUITY
Retained Earnings $1.517B $1.501B $1.492B
YoY Change 0.83% 0.56% 3.7%
Common Stock $140.7M $139.7M $130.8M
YoY Change 5.43% 6.75% 4.61%
Preferred Stock
YoY Change
Treasury Stock (at cost) $767.2M $767.1M $764.8M
YoY Change 0.32% 0.3% 1.84%
Treasury Stock Shares
Shareholders Equity $879.6M $862.1M $850.1M
YoY Change
Total Liabilities & Shareholders Equity $1.137B $1.131B $1.115B
YoY Change 1.52% 1.44% 8.86%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $39.97M $37.59M $30.66M
YoY Change 16.3% 22.63% -17.33%
Depreciation, Depletion And Amortization $11.81M $11.20M $11.26M
YoY Change 1.96% -0.52% 8.19%
Cash From Operating Activities $89.58M $50.86M -$1.172M
YoY Change 107.58% -4439.93% -104.96%
INVESTING ACTIVITIES
Capital Expenditures $31.90M $24.59M $30.23M
YoY Change -187.48% -18.67% 109.75%
Acquisitions
YoY Change
Other Investing Activities -$394.0K $55.00K -$134.0K
YoY Change 738.3% -141.04% -197.81%
Cash From Investing Activities -$32.30M -$23.48M -$30.09M
YoY Change -11.56% -21.97% 106.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.329M
YoY Change 35426.67%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.01M -$23.45M -$26.70M
YoY Change 14.52% -12.19% 25.47%
NET CHANGE
Cash From Operating Activities 89.58M $50.86M -$1.172M
Cash From Investing Activities -32.30M -$23.48M -$30.09M
Cash From Financing Activities -26.01M -$23.45M -$26.70M
Net Change In Cash 31.27M $3.936M -$57.97M
YoY Change -294.48% -106.79% 375.72%
FREE CASH FLOW
Cash From Operating Activities $89.58M $50.86M -$1.172M
Capital Expenditures $31.90M $24.59M $30.23M
Free Cash Flow $57.68M $26.28M -$31.40M
YoY Change -27.56% -183.69% -440.11%

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CY2021Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2022Q3 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021Q3 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24585000 usd
CY2021Q3 us-gaap Payments To Acquire Property Plant And Equipment
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30227000 usd
CY2022Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
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1159000 usd
CY2021Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
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221000 usd
CY2022Q3 us-gaap Payments For Proceeds From Other Investing Activities
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55000 usd
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CY2022Q3 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q3 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q3 us-gaap Payments Of Dividends Common Stock
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22067000 usd
CY2021Q3 us-gaap Payments Of Dividends Common Stock
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CY2022Q3 us-gaap Payments For Repurchase Of Common Stock
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CY2021Q3 us-gaap Payments For Repurchase Of Common Stock
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5329000 usd
CY2022Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
617000 usd
CY2021Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
59000 usd
CY2022Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
679000 usd
CY2021Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
638000 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q3 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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3936000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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60283000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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188055000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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64219000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130089000 usd
CY2022Q3 us-gaap Income Taxes Paid Net
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7544000 usd
CY2021Q3 us-gaap Income Taxes Paid Net
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CY2022Q2 us-gaap Stockholders Equity
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CY2022Q3 us-gaap Net Income Loss
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37592000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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-29000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.80
CY2022Q3 us-gaap Dividends Common Stock Cash
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22067000 usd
CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
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84000 usd
CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
617000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2465000 usd
CY2022Q3 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Stockholders Equity
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843147000 usd
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30655000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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-13000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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0.75
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20675000 usd
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5329000 usd
CY2021Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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59000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2274000 usd
CY2021Q3 us-gaap Stockholders Equity
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850055000 usd
CY2022Q3 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
22864000 usd
CY2021Q3 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
22685000 usd
CY2022Q3 lanc Accrued Distribution Costs
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CY2022Q2 lanc Accrued Distribution Costs
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11900000 usd
CY2022Q3 us-gaap Net Income Loss
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37592000 usd
CY2021Q3 us-gaap Net Income Loss
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30655000 usd
CY2022Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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118000 usd
CY2021Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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87000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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37474000 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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30568000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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27450000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27459000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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27458000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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27515000 shares
CY2022Q3 us-gaap Earnings Per Share Basic
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1.37
CY2021Q3 us-gaap Earnings Per Share Basic
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1.11
CY2022Q3 us-gaap Earnings Per Share Diluted
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1.36
CY2021Q3 us-gaap Earnings Per Share Diluted
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1.11
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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11172000 usd
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
8253000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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-124000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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-55000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-29000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-13000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-95000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-42000 usd
CY2022Q3 us-gaap Line Of Credit
LineOfCredit
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CY2022Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
11077000 usd
CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
8211000 usd
CY2022Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
150000000 usd
CY2022Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
150000000 usd
CY2022Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
225000000 usd
CY2022Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
225000000 usd
CY2022Q3 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2025-03-19
CY2022Q3 lanc Minimum Interest Coverage Ratio
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2.5
CY2022Q3 lanc Maximum Leverage Ratio
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3.5
CY2022Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2022Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2800000 usd
CY2022Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2800000 usd
CY2021Q3 us-gaap Interest Paid
InterestPaid
0 usd
CY2022Q3 us-gaap Interest Paid
InterestPaid
0 usd
CY2022Q3 us-gaap Interest Paid
InterestPaid
0 usd
CY2021Q3 us-gaap Interest Paid
InterestPaid
0 usd
CY2022Q3 us-gaap Other Commitment
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15000000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
31694000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
32323000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
629000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1141000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2514000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2212000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1610000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1426000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1334000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
425537000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
392056000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
49298000 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
40511000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
425537000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
392056000 usd

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