Great Lakes Review, a division of Wellington Shields Co. LLC - Lancaster Colony Corporation (LANC) LANC: 4Q: Top Line Momentum Food Costs Less of a Drag; Raising Estimates

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Great Lakes Review, a division of Wellington Shields & Co. LLC

Great Lakes Review

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LANC: 4Q: Top Line Momentum & Food Costs Less of a Drag; Raising Estimates

4Q18 (June) EPS was up 14% to $1.18 (vs $1.04 last year), 10 cents ahead of our estimate due to better-than-anticipated sales (up 6% vs our expectation for a 2% increase) and a tax rate below what we modeled;
For FY18, EPS was $4.93, up 7% from FY17’s record $4.62;
For FY19, our EPS estimate is now $5.30 (from $5.21), due to successful new products in Retail, an improving environment for restaurants in Food Service, but with the first half of the year still expected to be impacted somewhat by higher food input/freight costs;
For FY20, our EPS estimate is being introduced at $5.70, up 8% from our FY19 projection.

23/08/2018 7 EN

Underlying

Lancaster Colony Corporation

Lancaster Colony is a manufacturer and marketer of food products for the retail and foodservice channels. Within its Retail segment, the primary food products the company manufactures and sells include: frozen garlic breads; frozen Parkerhouse style yeast rolls and dinner rolls; salad dressings; vegetable dips and fruit dips; flatbread wraps and pizza crusts; sprouted grain bakery products; salad dressings; and croutons and salad toppings. Within its Foodservice segment, the primary food products the company manufactures and sells include: salad dressings; frozen garlic breads; frozen Parkerhouse style yeast rolls and dinner rolls; and frozen pasta.

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US5138471033 NASDAQ Stock Market United States

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Great Lakes Review, a division of Wellington Shields & Co. LLC

Great Lakes Review is located in Cleveland, Ohio, was founded in 1981 and became a division of Wellington Shields & Co. LLC in 2011. Great Lakes Review is a research boutique focused on the fundamentally-oriented investor seeking companies that dominate their respective specialty niche regardless of industry. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies. Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.

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Great Lakes Review

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