Lancaster Colony Corporation (NASDAQ:LANC) Q3 2020 Earnings Conference Call - Final Transcript

May 05, 2020 • 10:00 am ET


Lancaster Colony Corporation (NASDAQ:LANC) Q3 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good morning. My name is Ursula 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 2020 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 Treasurer for Lancaster Colony Corporation. Please go ahead, sir.

Dale N. Ganobsik

Thank you, Ursula. Good morning, everyone, and thank you for joining us today for Lancaster Colony's fiscal year 2020 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 results to differ materially and the Company undertakes no obligation to update these statements based upon subsequent events. A detailed discussion of these risks and uncertainties is contained in the Company's filings with the SEC.

Also note that the audio replay of this call will be archived and available at our Company's website,, later this afternoon.

For today's call, Dave Ciesinski, our President and CEO, will begin with a business update and highlights for the quarter. Tom Pigott, our CFO, will then provide an overview of the financial results. Dave will then share some comments regarding our outlook for our fiscal fourth quarter. At the conclusion of our prepared remarks, we'll be happy to respond to any of your questions.

Once again, we appreciate your participation this morning. I'll now turn the call over to Lancaster Colony's President and CEO, Dave Ciesinski. Dave?

David A. Ciesinski

Thanks, Dale, and good morning, everyone. It's a pleasure to be here with you today as we review our third quarter results for fiscal year 2020.

I'd like to begin by sharing some comments regarding the coronavirus pandemic and its impact on our business. But before I do, on behalf of all of us at Lancaster Colony, I'd like to thank all the health care workers and first responders for their tireless efforts to keep us safe. From the onset of the coronavirus pandemic, we've been steadfast that our mission is fixed.

First, provide for the health, safety and welfare of our teammates, and second, ensure that we continue to play our role in our country's vital food supply chain. Thanks to the diligence and care of our teammates, I believe we've remained true to both elements of our mission. All the while, we have fortified and sustained our business.

I'd like to extend a very sincere thank you to our frontline teammates, including those that work in manufacturing, distribution, transportation and retail merchandising for the incredible work they do every day to keep our business operating.

Through it all, our business continues to source ingredients, manufacture products and ship them to our customers. We've done this all while having implemented safety protocols as outlined by