The Marzetti Company reports Q4 EPS $1.18, consensus $1.33

Reports Q4 revenue $475.43M, consensus $457.98M. Restructuring and impairment charges reduced this year’s fourth quarter net income by 15c per diluted share compared to 8c last year. CEO David Ciesinski commented, “We were pleased to report record sales and gross profit for our fiscal fourth quarter. In the Retail segment, sales growth of 3.1% was led by expanding distribution for our popular Texas Roadhouse dinner rolls and new club channel sales for Chick-fil-A sauce. Our category-leading New York Bakery frozen garlic bread also achieved strong volume gains in the quarter, including contributions from our recently introduced gluten-free Texas Toast. In the Foodservice segment, excluding non-core TSA sales, net sales increased 1.4% driven by inflationary pricing, increased demand from some of our national chain restaurant account customers and sales gains for our branded Foodservice products.”