Specialty food company Lancaster Colony (NASDAQ: LANC) is expected to be announcing earnings results this Thursday before the bell. Here’s what to look for.
Lancaster Colony missed analysts’ revenue expectations by 5.3% last quarter, reporting revenues of $457.8 million, down 2.9% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EBITDA estimates and a miss of analysts’ adjusted operating income 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 be flat year on year at $456.9 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.33 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 five times over the last two years.
Looking at Lancaster Colony’s peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hershey delivered year-on-year revenue growth of 26%, beating analysts’ expectations by 3.1%, and J&J Snack Foods reported revenues up 3.3%, topping estimates by 2%. Hershey’s stock price was unchanged after the resultswhile J&J Snack Foods was down 3.4%.
Read our full analysis of Hershey’s results here and J&J Snack Foods’s results here.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 2.7% on average over the last month. during the same time and is heading into earnings with an average analyst price target of $196.33 (compared to the current share price of $172.87).
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