$LANC
LANCASTER COLONY CORP

2024 Q1 Form 10-Q Financial Statement

#000005751524000006 Filed on February 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $471.4M $485.9M
YoY Change 1.4% 1.79%
Cost Of Revenue $367.0M $364.4M
YoY Change -1.01% -2.89%
Gross Profit $104.5M $121.5M
YoY Change 10.88% 18.97%
Gross Profit Margin 22.16% 25.0%
Selling, General & Admin $57.21M $55.71M
YoY Change -11.75% 9.73%
% of Gross Profit 54.75% 45.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.37M $13.92M
YoY Change 5.24% 17.92%
% of Gross Profit 13.75% 11.46%
Operating Expenses $57.21M $55.71M
YoY Change -11.75% 9.73%
Operating Profit $35.15M $65.75M
YoY Change 19.51% 28.11%
Interest Expense $1.425M
YoY Change
% of Operating Profit 2.17%
Other Income/Expense, Net $1.748M $1.425M
YoY Change 187.97% 198.12%
Pretax Income $36.89M $67.18M
YoY Change 22.92% 29.68%
Income Tax $8.544M $15.70M
% Of Pretax Income 23.16% 23.36%
Net Earnings $28.35M $51.48M
YoY Change 15.46% 28.8%
Net Earnings / Revenue 6.01% 10.6%
Basic Earnings Per Share $1.03 $1.87
Diluted Earnings Per Share $1.03 $1.87
COMMON SHARES
Basic Shares Outstanding 27.52M shares 27.52M shares
Diluted Shares Outstanding 27.45M shares 27.44M shares

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $164.8M $133.8M
YoY Change 98.83% 40.17%
Cash & Equivalents $164.8M $133.8M
Short-Term Investments
Other Short-Term Assets $12.25M $13.17M
YoY Change -47.74% 11.46%
Inventory $161.1M $158.2M
Prepaid Expenses
Receivables $102.6M $100.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $440.7M $405.4M
YoY Change 12.56% 8.5%
LONG-TERM ASSETS
Property, Plant & Equipment $483.7M $490.4M
YoY Change -0.28% 1.94%
Goodwill $208.4M $208.4M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.41M $19.21M
YoY Change 16.34% 8.29%
Total Long-Term Assets $731.3M $743.5M
YoY Change -4.56% -2.62%
TOTAL ASSETS
Total Short-Term Assets $440.7M $405.4M
Total Long-Term Assets $731.3M $743.5M
Total Assets $1.172B $1.149B
YoY Change 1.23% 1.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $120.5M $104.1M
YoY Change -12.94% -20.94%
Accrued Expenses $69.26M $59.26M
YoY Change 19.41% 22.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $189.8M $163.4M
YoY Change -3.39% -9.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.22M $15.72M
YoY Change -19.43% -19.25%
Total Long-Term Liabilities $15.22M $15.72M
YoY Change -19.43% -19.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $189.8M $163.4M
Total Long-Term Liabilities $15.22M $15.72M
Total Liabilities $205.0M $179.1M
YoY Change -4.8% -10.29%
SHAREHOLDERS EQUITY
Retained Earnings $1.555B $1.551B
YoY Change 2.4% 2.25%
Common Stock $151.2M $149.3M
YoY Change 6.43% 6.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $783.8M $782.9M
YoY Change 0.98% 2.04%
Treasury Stock Shares
Shareholders Equity $912.9M $908.3M
YoY Change
Total Liabilities & Shareholders Equity $1.172B $1.149B
YoY Change 1.23% 1.03%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $28.35M $51.48M
YoY Change 15.46% 28.8%
Depreciation, Depletion And Amortization $14.37M $13.92M
YoY Change 5.24% 17.92%
Cash From Operating Activities $75.93M $105.9M
YoY Change 73.71% 18.25%
INVESTING ACTIVITIES
Capital Expenditures $14.87M $18.84M
YoY Change -33.49% -40.95%
Acquisitions
YoY Change
Other Investing Activities -$2.270M -$1.680M
YoY Change 189.54% 326.4%
Cash From Investing Activities -$17.14M -$20.52M
YoY Change -25.94% -36.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -27.88M -25.33M
YoY Change -16.0% -2.62%
NET CHANGE
Cash From Operating Activities 75.93M 105.9M
Cash From Investing Activities -17.14M -20.52M
Cash From Financing Activities -27.88M -25.33M
Net Change In Cash 30.91M 60.08M
YoY Change -344.8% 92.13%
FREE CASH FLOW
Cash From Operating Activities $75.93M $105.9M
Capital Expenditures $14.87M $18.84M
Free Cash Flow $61.06M $87.09M
YoY Change 185.99% 51.0%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-59000 usd
CY2023Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-75000 usd
CY2022Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-95000 usd
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-151000 usd
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-190000 usd
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
9214000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
10982000 usd
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
9214000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
10982000 usd
CY2023Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
150000000 usd
CY2023Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
150000000 usd
CY2023Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
225000000 usd
CY2023Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
225000000 usd
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2025-03-19
lanc Minimum Interest Coverage Ratio
MinimumInterestCoverageRatio
2.5
lanc Maximum Leverage Ratio
MaximumLeverageRatio
3.5
CY2023Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2023Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2200000 usd
CY2023Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2800000 usd
us-gaap Interest Paid
InterestPaid
0 usd
us-gaap Interest Paid
InterestPaid
0 usd
CY2023Q4 us-gaap Interest Paid
InterestPaid
0 usd
CY2022Q4 us-gaap Interest Paid
InterestPaid
0 usd
CY2023Q4 lanc Lessee Lease Commitment Not Yet Commenced
LesseeLeaseCommitmentNotYetCommenced
42800000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4576000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4840000 usd
CY2023Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
132000 usd
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
628000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
264000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1257000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
527000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
527000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
343000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
251000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
251000 usd
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
485916000 usd
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
477394000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
947488000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
902931000 usd
CY2023Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
65754000 usd
CY2022Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
51327000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
122529000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
100625000 usd
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
485916000 usd
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
477394000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
947488000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
902931000 usd

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