BUZZ-Lancaster Colony rises on Q2 sales beat

Shares of specialty food products maker Lancaster Colony Corp LANC.O up 9.6% at $182.45

Co reports Q2 sales of $509.3 million, above analysts' average estimate of $495.5 million, driven by growth from both licensing program and co's brands, per data compiled by LSEG

Also reports Q2 net income $1.78 per share

"Looking ahead to Q3, project Retail sales will continue to benefit from expanding licensing program and growth from investments in innovation for our brands including New York BRAND Bakery. In Foodservice segment, anticipate continued growth from select customers in our mix of national chain restaurant accounts" — CEO David A. Ciesinski

Shares rose ~4.06% in 2024