Marzetti reports Q2 EPS $2.15, consensus $2.23

Reports Q2 revenue $517.95M, consensus $520.37M. CEO David Ciesinski commented, “We were pleased to complete the quarter with record gross profit and higher gross profit margin. The 1.1% decline in Retail segment net sales compares to strong prior-year growth of 6.3% and reflects softer demand during the timeframe of the U.S. government shutdown. Retail segment highlights included continued growth from our category-leading New York Bakery frozen garlic bread products and expanding distribution for our licensed Texas Roadhouse dinner rolls. In the Foodservice segment, reported net sales were up 5.2% with Adjusted Foodservice Net Sales growth of 1.6% led by higher demand from several of our core national chain restaurant accounts and increased sales for our branded Foodservice products. Inflationary pricing also contributed to the increase in Foodservice net sales.”