Press Release: the Marzetti Company Reports Fourth Quarter and Fiscal Year Results

Dow Jones
Aug 25
WESTERVILLE, Ohio--(BUSINESS WIRE)--August 25, 2026-- 

The Marzetti Company (Nasdaq: MZTI) reported results today for the company's fiscal fourth quarter and fiscal year ended June 30, 2026.

Fourth Quarter Summary

   --  Consolidated fourth quarter net sales declined 2.2% to $465.0 million. 
      Excluding the prior-year quarter's $12.2 million in non-core sales 
      attributed to a temporary supply agreement ("TSA") with Winland Foods, 
      Inc., which concluded during the quarter ended March 31, 2026, 
      consolidated net sales increased 0.4%. 
 
   --  Retail segment net sales increased 0.9% to $243.6 million, which 
      includes $15.4 million of incremental sales from Bachan's, Inc., our 
      newly acquired Japanese Barbecue Sauce brand known for its delicious, 
      authentic, clean-label products. The acquisition closed on May 1, 2026. 
 
 
   --  Foodservice segment net sales decreased 5.3% to $221.4 million on a 
      reported basis. Excluding the non-core TSA sales of $12.2 million in the 
      prior-year quarter, Foodservice segment net sales decreased 0.1%. 
 
   --  Consolidated gross profit increased $7.9 million to a fourth quarter 
      record $114.0 million. Reported gross profit margin improved 220 basis 
      points to 24.5% driven by our ongoing cost savings programs. 
 
   --  SG&A expenses increased $12.3 million to $74.3 million. The higher SG&A 
      expenses include a $10.5 million increase in acquisition-related costs in 
      addition to $1.6 million in incremental noncash amortization expense 
      attributed to Bachan's intangible assets. 
 
   --  Consolidated operating income grew $18.8 million to $57.7 million. In 
      addition to the impacts of the increased gross profit and higher SG&A 
      expenses, consolidated operating income includes the benefit of an $18.5 
      million gain on the sale of our property in Milpitas, California, the 
      former location of the sauce and dressing facility that we closed in 
      fiscal 2026. The $18.5 million gain is reported as part of the 
      Restructuring, Impairment and Other line item. In the prior-year period, 
      restructuring and impairment charges of $5.1 million primarily relate to 
      the Milpitas plant closure. 
 
   --  Fourth quarter net income was $1.76 per diluted share versus $1.18 per 
      diluted share last year. In the current-year quarter, the 
      acquisition-related SG&A expenses decreased net income by $0.31 per 
      diluted share; the incremental noncash amortization expense for Bachan's 
      intangible assets reduced net income by $0.05 per diluted share; and the 
      net impact of all restructuring, impairment and other items, most of 
      which is the gain on the Milpitas property sale, increased net income by 
      $0.66 per diluted share. In the prior-year quarter, restructuring and 
      impairment charges reduced net income by $0.15 per diluted share while 
      acquisition-related SG&A costs reduced net income by $0.01 per diluted 
      share. Excluding these items, the resulting Adjusted Net Income Per 
      Diluted Share ("Adjusted Diluted EPS") grew 9.0% to $1.46 in the 
      current-year quarter, versus $1.34 last year, driven by the higher gross 
      profit. 

CEO David A. Ciesinski commented, "We were pleased to report record gross profit and strong gross margin improvement in our fiscal fourth quarter. In our Retail segment, the newly acquired Bachan's brand added $15.4 million in incremental sales. Retail scanner data sourced from Circana for the quarter ended June shows continued strong performance for the Bachan's brand, with sales up 8.7% and total distribution points up 16.6% as the brand continues to grow share in the barbecue sauce category. Retail net sales growth was unfavorably impacted by the lapping of last year's club channel pipeline fill for Chick-fil-A$(R)$ sauces, reduced sales of our Sister Schubert's(R) dinner rolls in the club channel, and a comparison to the prior year's rollout of Texas Roadhouse(R) dinner rolls into traditional grocery chains. Note that Texas Roadhouse rolls remain a strong performer in our portfolio, with Circana retail scanner data showing that sales were up 28.1% for the quarter and 76.3% for the fiscal year. In the Foodservice segment, reported net sales decreased 5.3% while Adjusted Foodservice Net Sales, which exclude the non-core TSA sales, were nearly flat as gains for our leading national chain restaurant accounts were offset by reduced sales to other chains and lower sales for our branded Foodservice products."

Fourth Quarter Results

Fourth quarter consolidated net sales decreased 2.2% to $465.0 million versus $475.4 million last year. Excluding the non-core sales attributed to the TSA, Adjusted Consolidated Net Sales increased 0.4%. Our newly acquired Bachan's business added $15.4 million in net sales, or about 320 basis points of growth. Retail segment net sales grew 0.9% to $243.6 million while the segment's sales volume, measured in pounds shipped, declined 1.7%. Bachan's accounted for 640 basis points of Retail segment net sales growth and 520 basis points of Retail segment volume growth. In the Foodservice segment, net sales decreased 5.3% to $221.4 million while the segment's sales volume, measured in pounds shipped, declined 4.1%. Excluding the non-core TSA sales, Foodservice segment net sales decreased 0.1% while the segment's core sales volume improved 0.1%.

Consolidated gross profit increased $7.9 million to a fourth quarter record $114.0 million driven by our cost savings programs. Gross profit margin increased 220 basis points to 24.5%. Adjusted Gross Margin, which excludes all non-core TSA sales as those sales did not contribute meaningfully to gross profit, increased approximately 160 basis points.

SG&A expenses increased $12.3 million to $74.3 million, which includes a $10.5 million increase in acquisition-related costs in addition to $1.6 million in incremental noncash amortization expense for intangible assets attributed to Bachan's. Excluding these items, SG&A expenses were nearly flat as incremental core SG&A expenses attributed to Bachan's were offset by cost reductions elsewhere.

The $18.0 million Restructuring, Impairment and Other line item primarily reflects the benefit of an $18.5 million gain on the sale of our property in Milpitas, California, the former location of the sauce and dressing facility that we closed in fiscal 2026. Restructuring and impairment charges of $5.1 million in the prior-year quarter included $4.5 million in charges attributed to the closure of the Milpitas plant.

Consolidated operating income increased $18.8 million to $57.7 million as favorably impacted by the gain on the Milpitas property sale and higher gross profit, partially offset by the increase in SG&A expenses attributed to the acquisition-related costs and incremental amortization expense for Bachan's.

Interest expense totaled $1.8 million in the current year versus no interest expense last year, as a portion of the Bachan's acquisition purchase price was financed with a $200 million term loan.

Net income increased $15.8 million to $48.3 million, or $1.76 per diluted share, versus $32.5 million, or $1.18 per diluted share, last year. In the current-year quarter, income reported on the Restructuring, Impairment and Other line item increased net income by $18.1 million, or $0.66 per diluted share; acquisition-related SG&A costs reduced net income by $8.5 million, or $0.31 per diluted share; and the incremental noncash amortization expense for the Bachan's intangible assets decreased net income by $1.2 million, or $0.05 per diluted share. In the prior-year quarter, restructuring and impairment charges reduced net income by $4.0 million, or $0.15 per diluted share, while acquisition-related SG&A costs reduced net income by $0.4 million, or $0.01 per diluted share. Resulting Adjusted Diluted EPS was $1.46 in the current-year quarter, versus $1.34 last year.

Fiscal Year Results

For the fiscal year ended June 30, 2026, net sales increased 1.1% to $1.93 billion compared to $1.91 billion a year ago. Net income for the fiscal year totaled $191.6 million, or $6.98 per diluted share, versus the prior-year amount of $167.3 million, or $6.07 per diluted share. The fiscal 2026 results include a net income benefit of $16.6 million, or $0.60 per diluted share, from income reported on the Restructuring, Impairment and Other line-item, driven by the proceeds from the sale of our property in Milpitas, California. Fiscal 2026 SG&A costs also include acquisition-related expenses that reduced net income by $11.3 million, or $0.41 per diluted share, in addition to incremental noncash amortization expense for intangible assets attributed to the Bachan's acquisition that reduced net income by $1.2 million, or $0.05 per diluted share. The fiscal 2025 results include a noncash settlement charge attributed to the termination of the company's legacy pension plans that reduced net income by $10.8 million, or $0.39 per diluted share. In addition, the fiscal 2025 results included restructuring and impairment charges that reduced net income by $4.0 million, or $0.15 per diluted share, and acquisition-related SG&A expenditures that reduced net income by $2.9 million, or $0.11 per diluted share. Resulting Adjusted Diluted EPS was $6.83 in the current year, versus $6.72 last year.

Fiscal 2026 cash flows from operating activities increased $22.3 million to a record $283.8 million. In addition, as part of our ongoing commitment to return value to our shareholders, the company increased its regular cash dividend for the 63(rd) consecutive year in fiscal 2026 with the quarterly cash dividend paid on December 31, 2025. During the fiscal year, the company paid cash dividends to shareholders totaling $108.8 million and repurchased $36.3 million of common stock.

Fiscal 2027 Outlook

Mr. Ciesinski commented, "Looking ahead to fiscal 2027, Retail segment sales will continue to benefit from incremental sales attributed to the Bachan's acquisition in addition to contributions from the new items we recently launched or have planned for introduction for both our legacy brands and licensing program. In the Foodservice segment, we expect sales to be supported by select quick-service restaurant customers in our mix of national chain restaurant accounts. Note that external factors, including U.S. economic performance and consumer behavior, may impact the topline growth for both segments in the coming year. We also continue to monitor the impact of the Cyclospora outbreak on product demand and sales. With respect to our input costs, in aggregate we anticipate a moderate level of inflation in fiscal 2027 that we plan to offset through inflationary pricing and our cost savings programs as we remain focused on continued margin improvement."

Conference Call on the Web

The company's fourth quarter and fiscal year-end conference call is scheduled for this morning, August 25, at 10:00 a.m. ET. Access to a live webcast and subsequent replay of the call is available through a link on the company's website at investors.marzetticompany.com.

About the Company

The Marzetti Company is a manufacturer and marketer of specialty food products for the retail and foodservice channels.

Forward-Looking Statements

We desire to take advantage of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). This news release contains various "forward-looking statements" within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words "anticipate," "estimate," "project," "believe," "intend," "plan," "expect," "hope" or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward-looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors, many of which are beyond our control, which could cause our actual results to differ materially from those expressed in the forward-looking statements. Some of the key factors that could cause actual results to differ materially from those expressed in the forward-looking statements include:

   --  the ability to successfully integrate the acquired Bachan's business 
      and achieve operational and financial performance objectives; 
   --  changes in demand for our products, which may result from changes in 
      consumer behavior or loss of brand reputation or customer goodwill; 
   --  significant shifts in consumer demand and disruptions to our employees, 
      communities, customers, supply chains, production planning, operations, 
      and production processes resulting from the impacts of epidemics, 
      pandemics or similar widespread public health concerns and foodborne 
      outbreaks; 
   --  efficiencies in plant operations and our overall supply chain network; 
 
   --  geopolitical events that could create unforeseen business disruptions 
      and impact the cost or availability of raw materials and energy; 
   --  inflationary pressures resulting in higher input costs; 
   --  adverse changes in freight, energy or other costs of producing, 
      distributing or transporting our products; 
   --  fluctuations in the cost and availability of ingredients and 
      packaging; 
   --  the reaction of customers or consumers to pricing actions we take to 
      offset inflationary costs; 
   --  price and product competition; 
   --  changes in our cash flow or use of cash in various business 
      activities; 
   --  the success and cost of new product development efforts; 
   --  the lack of market acceptance of new products; 
   --  the impact of customer store brands on our branded retail volumes; 
   --  the impact of any laws and regulatory matters affecting our food 
      business, including any additional requirements imposed by the federal, 
      state or local government; 
   --  adverse changes in trade policies, including increased tariffs, 
      retaliatory trade measures, or other trade restrictions; 
   --  dependence on key personnel and changes in key personnel; 
   --  adequate supply of labor for our manufacturing facilities; 
   --  stability of labor relations; 
   --  the extent to which good-fitting business acquisitions are identified, 
      acceptably integrated, and achieve operational and financial performance 
      objectives; 
   --  dependence on a wide array of critical third parties to support our 
      operations, including contract manufacturers, distributors, logistics 
      providers and IT vendors; 
   --  cyber-security incidents, information technology disruptions, and data 
      breaches; 
   --  the potential for loss of larger programs or key customer 
      relationships; 
   --  capacity constraints that may affect our ability to meet demand or may 
      increase our costs; 
   --  failure to maintain or renew license agreements; 
   --  the possible occurrence of product recalls or other defective or 
      mislabeled product costs; 
   --  maintenance of competitive position with respect to other 
      manufacturers; 
   --  the outcome of any litigation or arbitration; 
   --  the effect of consolidation of customers within key market channels; 
   --  changes in estimates in critical accounting judgments; and 
   --  risks related to other factors described under "Risk Factors" in other 
      reports and statements filed by us with the Securities and Exchange 
      Commission, including without limitation our Annual Report on Form 10-K 
      and Quarterly Reports on Form 10-Q (available at www.sec.gov). 

Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements, except as required by law. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on statements that are based on current expectations.

 
                      THE MARZETTI COMPANY 
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) 
            (In thousands except per-share amounts) 
 
                 Three Months Ended       Fiscal Year Ended 
                      June 30,                 June 30, 
                 -------------------  -------------------------- 
                   2026       2025       2026          2025 
                 ---------  --------  -----------  ------------- 
Net sales        $465,030   $475,427  $1,929,823   $1,909,122 
Cost of sales     351,037    369,335   1,452,535    1,453,476 
                  -------    -------   ---------    --------- 
Gross profit      113,993    106,092     477,288      455,646 
Selling, 
 general & 
 administrative 
 expenses          74,337     62,075     254,601      230,227 
Restructuring, 
 impairment and 
 other, net       (18,034)     5,102     (16,024)       5,102 
                  -------    -------   ---------    --------- 
Operating 
 income            57,690     38,915     238,711      220,317 
Interest 
 expense           (1,763)        --      (1,763)          -- 
Pension 
 settlement 
 charge                --         --          --      (13,968) 
Other, net            594      1,594       5,022        7,114 
                  -------    -------   ---------    --------- 
Income before 
 income taxes      56,521     40,509     241,970      213,463 
Taxes based on 
 income             8,231      7,980      50,364       46,116 
                  -------    -------   ---------    --------- 
Net income       $ 48,290   $ 32,529  $  191,606   $  167,347 
                  =======    =======   =========    ========= 
 
Net income per 
common share: 
(a) 
   Basic         $   1.76   $   1.18  $     6.98   $     6.08 
   Diluted       $   1.76   $   1.18  $     6.98   $     6.07 
 
Cash dividends 
 per common 
 share           $   1.00   $   0.95  $     3.95   $     3.75 
 
Weighted 
average common 
shares 
outstanding: 
   Basic           27,321     27,457      27,385       27,469 
   Diluted         27,338     27,488      27,406       27,489 
 
 
(a)    Based on the weighted average number of shares outstanding during each 
       period. 
 
 
                        THE MARZETTI COMPANY 
              BUSINESS SEGMENT INFORMATION (Unaudited) 
                           (In thousands) 
 
                     Three Months Ended       Fiscal Year Ended 
                          June 30,                 June 30, 
                    --------------------  -------------------------- 
                      2026       2025        2026          2025 
                    ---------  ---------  -----------  ------------- 
NET SALES 
------------------ 
   Retail           $243,628   $241,554   $1,002,769   $1,003,409 
   Foodservice       221,402    233,873      927,054      905,713 
                     -------    -------    ---------    --------- 
      Total Net 
       Sales        $465,030   $475,427   $1,929,823   $1,909,122 
                     =======    =======    =========    ========= 
 
OPERATING INCOME 
------------------ 
   Retail           $ 43,155   $ 40,905   $  203,669   $  211,695 
   Foodservice        32,405     28,835      131,329      111,579 
   Nonallocated 
    Restructuring, 
    Impairment and 
    Other, Net        18,472     (5,102)      17,068       (5,102) 
   Corporate 
    Expenses         (36,342)   (25,723)    (113,355)     (97,855) 
                     -------    -------    ---------    --------- 
      Total 
       Operating 
       Income       $ 57,690   $ 38,915   $  238,711   $  220,317 
                     =======    =======    =========    ========= 
 
 
                          THE MARZETTI COMPANY 
           CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) 
                             (In thousands) 
 
                                                   June 30,    June 30, 
                                                     2026        2025 
                                                  ----------  ---------- 
ASSETS 
------------------------------------------------ 
Current assets: 
   Cash and equivalents                           $   25,096  $  161,476 
   Receivables                                       105,488      95,817 
   Inventories                                       205,062     169,301 
   Other current assets                               25,315      17,037 
                                                   ---------   --------- 
       Total current assets                          360,961     443,631 
Net property, plant and equipment                    551,554     534,543 
Other assets                                         692,505     296,550 
                                                   ---------   --------- 
         Total assets                             $1,605,020  $1,274,724 
                                                   =========   ========= 
 
LIABILITIES AND SHAREHOLDERS' EQUITY 
------------------------------------------------ 
   Current liabilities: 
   Accounts payable                               $  156,785  $  117,962 
   Accrued liabilities                                64,751      68,332 
   Current portion of long-term debt                  10,000          -- 
                                                   ---------   --------- 
      Total current liabilities                      231,536     186,294 
Long-term debt                                       189,276          -- 
Other noncurrent liabilities and deferred income 
 taxes                                               131,058      89,935 
Shareholders' equity                               1,053,150     998,495 
                                                   ---------   --------- 
         Total liabilities and shareholders' 
          equity                                  $1,605,020  $1,274,724 
                                                   =========   ========= 
 

Reconciliation of GAAP to non-GAAP Financial Measures

The Marzetti Company prepares its consolidated financial statements in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). However, from time to time, the corporation may present in its public statements, press releases and SEC filings, non-GAAP financial measures such as Adjusted Consolidated Net Sales, Adjusted Foodservice Net Sales, Adjusted Cost of Sales, Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Operating Income, and Adjusted Net Income Per Diluted Share ("Adjusted Diluted EPS"). Management considers such non-GAAP financial measures to provide useful supplemental information to investors in facilitating year-over-year comparisons by removing non-recurring items or other items that management believes do not directly reflect the underlying operations. Management uses these non-GAAP measures in the preparation of our annual operating plan and for our monthly analysis of operating results. Reconciliations of the non-GAAP measures to the most comparable GAAP financial measures are provided below. The corporation's definitions of these non-GAAP measures may differ from similarly titled measures used by other companies. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.

Adjusted Consolidated Net Sales, Adjusted Foodservice Net Sales, Adjusted Cost of Sales, Adjusted Gross Profit and Adjusted Gross Margin are non-GAAP financial measures that exclude non-core sales and cost of sales attributed to a temporary supply agreement ("TSA") made in connection with our February 2025 acquisition of Winland's Atlanta-based sauce and dressing production facility. The TSA sales are included in the reported net sales for our Foodservice segment and did not contribute meaningfully to gross profit. The TSA sales commenced in March 2025 and concluded during the quarter ended March 31, 2026. The following tables present a reconciliation between net sales, cost of sales, gross profit and gross margin as reported in accordance with GAAP and Adjusted Consolidated Net Sales, Adjusted Foodservice Net Sales, Adjusted Cost of Sales, Adjusted Gross Profit and Adjusted Gross Margin for the three months and fiscal years ended June 30, 2026 and 2025.

 
                    Three Months Ended June 30, 2026             Three Months Ended June 30, 2025 
               ------------------------------------------  -------------------------------------------- 
(Unaudited, 
Dollars In                                     Adjusted                                      Adjusted 
Thousands)       Reported      TSA-Related    (non-GAAP)     Reported       TSA-Related     (non-GAAP) 
-------------  -------------  -------------  ------------  -------------  ---------------  ------------ 
Consolidated 
------------- 
Net Sales      $465,030        $         --  $465,030      $475,427        $   12,174      $463,253 
Cost of Sales   351,037                  --   351,037       369,335            12,174       357,161 
                -------  ---      ---------   -------       -------  ---      -------       ------- 
Gross Profit   $113,993        $         --  $113,993      $106,092        $       --      $106,092 
                =======  ===      =========   =======       =======  ===      =======       ======= 
Gross Margin       24.5%                N/M      24.5%         22.3%               --   %      22.9% 
 
Foodservice 
Segment 
------------- 
Foodservice 
 Net Sales     $221,402        $         --  $221,402      $233,873        $   12,174      $221,699 
 
 
                       Fiscal Year Ended June 30, 2026                  Fiscal Year Ended June 30, 2025 
               -----------------------------------------------  ----------------------------------------------- 
(Unaudited, 
Dollars In                                         Adjusted                                         Adjusted 
Thousands)        Reported       TSA-Related      (non-GAAP)       Reported       TSA-Related      (non-GAAP) 
-------------  --------------  ---------------  --------------  --------------  ---------------  -------------- 
Consolidated 
------------- 
Net Sales      $1,929,823       $   20,415      $1,909,408      $1,909,122       $   14,237      $1,894,885 
Cost of Sales   1,452,535           20,415       1,432,120       1,453,476           14,237       1,439,239 
                ---------          -------       ---------       ---------          -------       --------- 
Gross Profit   $  477,288       $       --      $  477,288      $  455,646       $       --      $  455,646 
                =========          =======       =========       =========          =======       ========= 
Gross Margin         24.7%              --   %        25.0%           23.9%              --   %        24.0% 
 
Foodservice 
Segment 
------------- 
Foodservice 
 Net Sales     $  927,054       $   20,415      $  906,639      $  905,713       $   14,237      $  891,476 
 

Adjusted Operating Income and Adjusted Diluted EPS are non-GAAP financial measures that exclude certain items affecting comparability, which can impact the analysis of our underlying core business performance and trends. The following tables present a reconciliation between 1) operating income as reported in accordance with GAAP and Adjusted Operating Income and 2) diluted EPS as reported in accordance with GAAP and Adjusted Diluted EPS for the three months and fiscal years ended June 30, 2026 and 2025. For 2026, the adjustments reflect incremental SG&A expenses attributed to the Bachan's acquisition; incremental SG&A expenses attributed to the amortization of intangible assets resulting from the Bachan's acquisition; and restructuring, impairment and other, net, which consists of restructuring and impairment charges resulting from the closure of our sauce and dressing production facility in Milpitas, California, the gain on the sale of the Milpitas real property, and charges related to the impairment of manufacturing equipment, net of a recovery through an insurance claim. For 2025, the adjustments reflect incremental SG&A expenses attributed to the Atlanta production facility acquisition; restructuring and impairment charges primarily related to the closure of our production facility in Milpitas, California; and the one-time noncash pension settlement charge.

 
                                                    Three Months Ended June 30, 
                     ----------------------------------------------------------------------------------------- 
                                      SG&A          SG&A        Restructuring, 
Unaudited, dollars                 Expenses -    Expenses -       Impairment        Pension 
in thousands except               Acquisition   Intangibles       and Other,       Settlement      Adjusted 
per share data        Reported       Costs      Amortization          Net            Charge      (non-GAAP) * 
-------------------  -----------  ------------  ------------  ------------------  ------------  -------------- 
         Operating 
  2026    Income     $57,690      $     10,974  $      1,606   $   (18,034)        $        --   $  52,236 
         Diluted 
  2026    EPS        $  1.76      $       0.31  $       0.05   $     (0.66)        $        --   $    1.46 
         Operating 
  2025    Income     $38,915      $        451  $         --   $     5,102         $        --   $  44,468 
         Diluted 
  2025    EPS        $  1.18      $       0.01  $         --   $      0.15         $        --   $    1.34 
2026 vs 2025: 
------------------- 
Operating Income 
 Change ($)          $18,775      $     10,523  $      1,606   $   (23,136)        $        --   $   7,768 
Operating Income 
 Change (%)             48.2%              N/M           N/M        (453.5)%                --        17.5% 
Diluted EPS Change 
 ($)                 $  0.58      $       0.30  $       0.05   $     (0.81)        $        --   $    0.12 
Diluted EPS Change 
 (%)                    49.2%              N/M           N/M        (540.0)%                --         9.0% 
* The sum of individual per share amounts may not add due to rounding. 
 
 
                                                      Fiscal Year Ended June 30, 
                     --------------------------------------------------------------------------------------------- 
                                        SG&A            SG&A        Restructuring, 
Unaudited, dollars                     Expenses      Expenses -       Impairment         Pension        Adjusted 
in thousands except                 - Acquisition   Intangibles       and Other,        Settlement     (non-GAAP) 
per share data         Reported         Costs       Amortization          Net             Charge           * 
-------------------  ------------  ---------------  ------------  ------------------  --------------  ------------ 
         Operating 
  2026    Income     $238,711       $  14,509       $      1,606   $   (16,024)        $      --      $238,802 
         Diluted 
  2026    EPS        $   6.98       $    0.41       $       0.05   $     (0.60)        $      --      $   6.83 
         Operating 
  2025    Income     $220,317       $   3,781       $         --   $     5,102         $      --      $229,200 
         Diluted 
  2025    EPS        $   6.07       $    0.11       $         --   $      0.15         $    0.39      $   6.72 
2026 vs 2025: 
------------------- 
Operating Income 
 Change ($)          $ 18,394       $  10,728       $      1,606   $   (21,126)        $      --      $  9,602 
Operating Income 
 Change (%)               8.3%          283.7%               N/M        (414.1)%              --           4.2% 
Diluted EPS Change 
 ($)                 $   0.91       $    0.30       $       0.05   $     (0.75)        $   (0.39)     $   0.11 
Diluted EPS Change 
 (%)                     15.0%          272.7%               N/M        (500.0)%          (100.0)%         1.6% 
* The sum of individual per share amounts may not add due to rounding. 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260824316576/en/

 
    CONTACT:    FOR FURTHER INFORMATION: 

Dale N. Ganobsik

Vice President, Corporate Finance and Investor Relations

The Marzetti Company

Phone: 614/224-7141

Email: ir@marzetti.com

 
 

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