Lancaster Colony Reports Third Quarter Sales And Earnings
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WESTERVILLE, Ohio, May 4, 2021 /PRNewswire/ Lancaster Colony Corporation (Nasdaq: LANC) today reported results for the company s fiscal third quarter ended March 31, 2021.
Summary
Consolidated net sales increased 11.2% to a third quarter record $357.2 million versus $321.4 million last year. Retail net sales grew 17.1% to $198.4 million while Foodservice net sales advanced 4.6% to $158.9 million.
Excluding all Omni Baking sales attributed to a temporary supply agreement that was terminated effective October 31, 2020, consolidated net sales increased 13.0%.
Consolidated gross profit increased 17.7% to $90.6 million.
Consolidated operating income grew 24.7% to $37.4 million.
Net income was $1.05 per diluted share versus $0.81 per diluted share last year.
Operator
Good morning. My name is Casey, and I will be your conference call facilitator today. At this time, I would like to welcome everyone to the Lancaster Colony Corporation Fiscal Year 2021 Third Quarter Conference Call. Conducting today s call will be Dave Ciesinski, President and CEO; and Tom Pigott, CFO. [Operator Instructions]
And now to begin the conference call, here is Dale Ganobsik, Vice President of Investor Relations and the Treasurer for Lancaster Colony Corporation. Please go ahead, sir.
Dale N. Ganobsik
Vice President-Investor Relations and Treasurer
Thank you, Casey. Good morning, everyone, and thank you for joining us today for Lancaster Colony s Fiscal Year 2021 Third Quarter Conference Call. Our discussion this morning may include forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks and uncertainties that could cause actual res
Operator
Good morning. My name is Michelle, and I will be your conference call facilitator today. At this time, I would like to welcome everyone to the Lancaster Colony Corporation Fiscal Year 2021 Second Quarter Conference Call. Conducting today s call will be Dave Ciesinski, President and CEO; and Tom Pigott, CFO. [Operator Instructions] Thank you.
Now I would like to begin the conference call. Here is Dale Ganobsik, Vice President of Investor Relations for Lancaster Colony Corporation. Please go ahead.
Dale N. Ganobsik
Vice President of Investor Relations and Treasurer
Thank you, Michelle. Good morning, everyone, and thank you for joining us today for Lancaster Colony s Fiscal Year 2021 Second Quarter Conference Call. Our discussion this morning may include forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks and uncertainties that could cause a