# EDGAR Filing Document

**Accession Number:** 0000057515
**File Stem:** 0000057515-25-000019
**Filing Date:** 2025-8
**Character Count:** 24472
**Document Hash:** 1439343a1fabe07a1d4ac1cd76f7e67d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000057515-25-000019.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0000057515-25-000019

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250821

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250821

**DATE AS OF CHANGE**: 20250821

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MARZETTI CO
- **CENTRAL INDEX KEY:** 0000057515
- **STANDARD INDUSTRIAL CLASSIFICATION:** CANNED, FROZEN & PRESERVED FRUIT, VEG & FOOD SPECIALTIES [2030]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 131955943
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-04065
- **FILM NUMBER:** 251238388

**BUSINESS ADDRESS:**
- **STREET 1:** 380 POLARIS PARKWAY
- **CITY:** WESTERVILLE
- **STATE:** OH
- **ZIP:** 43082
- **BUSINESS PHONE:** 6142247141

**MAIL ADDRESS:**
- **STREET 1:** 380 POLARIS PARKWAY
- **CITY:** WESTERVILLE
- **STATE:** OH
- **ZIP:** 43082

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LANCASTER COLONY CORP
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? mzti-20250821

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant To Section 13 OR 15(d) of The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): August 21, 2025** 

---

| |
|:---|
| **The Marzetti Company** |
| **(Exact name of registrant as specified in its charter)** |

---

---

| | | |
|:---|:---|:---|
| **Ohio** | **000-04065** | **13-1955943** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(I.R.S. Employer<br>Identification No.)** |
| **380 Polaris Parkway** | **Suite 400** | |
| **Westerville** | **Ohio** | **43082** |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Zip Code)** |

---

---

| | | |
|:---|:---|:---|
| **Registrant's telephone number, including area code:** | **(614)** | **224-7141** |

---

<u>*(Former name or former address, if changed since last report.)*</u>

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ &nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ &nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ &nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ &nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered <br> <u>Common Stock, without par value</u> <u>MZTI</u> <u>NASDAQ Global Select Market</u>

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition**

On August 21, 2025, The Marzetti Company issued a press release announcing its results for the three months and fiscal year ended June 30, 2025. The press release is attached as Exhibit 99.1.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits**

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| | | |
|:---|:---|:---|
| (d) | Exhibits: | Exhibits: |
| | Exhibit Number | Description |
| | <u>[99.1](a4q25earn6-30x25.htm)</u>\* | <u>[Press Release dated](a4q25earn6-30x25.htm)[August 21, 2025](a4q25earn6-30x25.htm)</u> |
| | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| | \* | Furnished herewith |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | THE MARZETTI COMPANY | THE MARZETTI COMPANY |
| | | (Registrant) | (Registrant) |
| Date: | August 21, 2025 | By: | /s/ THOMAS K. PIGOTT |
|  |  |  | Thomas K. Pigott |
|  |  |  | *Vice President, Chief Financial Officer* |
|  |  |  | *and Assistant Secretary* |
|  |  |  | *(Principal Financial and Accounting Officer)* |

---

&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 99.1

![themarzetticompany.jpg](themarzetticompany.jpg)

---

| | |
|:---|:---|
| | Exhibit 99.1 |
| FOR IMMEDIATE RELEASE | SYMBOL: MZTI |
| August 21, 2025 | TRADED: Nasdaq |

---

**THE MARZETTI COMPANY REPORTS FOURTH QUARTER AND FISCAL YEAR RESULTS**

&nbsp;&nbsp;&nbsp;&nbsp;WESTERVILLE, Ohio, August 21 - The Marzetti Company (Nasdaq: MZTI) reported results today for the company's fiscal fourth quarter and fiscal year ended June 30, 2025. Note that effective June 27, 2025, The Marzetti Company is the new name of the former Lancaster Colony Corporation.

**Fourth Quarter Summary**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Consolidated fourth quarter net sales increased 5.0% to a fourth quarter record $475.4 million. Excluding $12.2 million in non-core sales attributed to a temporary supply agreement ("TSA") with Winland Foods, Inc., consolidated net sales increased 2.3%. Retail segment net sales increased 3.1% to $241.6 million. Foodservice segment net sales grew 7.0% to $233.9 million on a reported basis. Excluding the non-core TSA sales, Foodservice segment net sales increased 1.4%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Consolidated gross profit increased $8.5 million to a fourth quarter record $106.1 million. Gross profit margin improved 70 basis points to 22.3% driven by our ongoing cost savings programs and the benefit of a more favorable volume/mix for the Retail segment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• SG&A expenses increased $8.9 million to $62.1 million, driven by higher marketing costs as we increased investments to support the growth of our retail brands.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Consolidated operating income declined $2.8 million to $38.9 million. In addition to the net impact of the higher gross profit and increased SG&A expenses, consolidated operating income includes restructuring and impairment charges of $5.1 million in the current-year period versus $2.7 million last year. The current-year restructuring and impairment charges primarily relate to our previously announced plans to close our sauce and dressing facility in Milpitas, California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fourth quarter net income was $1.18 per diluted share versus $1.26 per diluted share last year. Restructuring and impairment charges reduced this year's fourth quarter net income by $0.15 per diluted share compared to $0.08 last year.

CEO David A. 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<sup>TM</sup> dinner rolls and new club channel sales for Chick-fil-A<sup>®</sup> sauce. Our category-leading New York Bakery<sup>TM</sup> 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."

MORE. . .

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PAGE 2 / THE MARZETTI COMPANY REPORTS FOURTH QUARTER AND FISCAL YEAR RESULTS

**Fourth Quarter Results**

Consolidated net sales increased 5.0% to a fourth quarter record $475.4 million versus $452.8 million last year. Retail segment net sales grew 3.1% to $241.6 million while the segment's sales volume, measured in pounds shipped, increased 2.1%. Excluding sales attributed to perimeter-of-the-store bakery product lines that we exited in fiscal 2024, specifically our Flatout<sup>®</sup> and Angelic Bakehouse<sup>®</sup> brands, Retail net sales increased 3.6% and Retail sales volume increased 2.9%. In the Foodservice segment, net sales advanced 7.0% to $233.9 million. Foodservice segment sales include $12.2 million in non-core sales attributed to a TSA with Winland Foods, Inc. that commenced in March 2025 for a period of up to twelve months. The TSA was made in connection with our acquisition of the Winland Foods sauce and dressing production facility located in Atlanta, Georgia. The acquisition was completed in February 2025. Excluding the non-core TSA sales, Foodservice segment net sales improved 1.4% including the benefit of inflationary pricing as the segment's sales volumes, measured in pounds shipped, declined 1.7%.

Consolidated gross profit increased $8.5 million to a fourth quarter record $106.1 million driven by our cost savings programs and the benefit of a more favorable volume/mix for the Retail segment. Gross profit margin increased 70 basis points to 22.3%.

SG&A expenses increased $8.9 million to $62.1 million, driven by higher marketing costs as we invested to support the growth of our retail brands. SG&A expenses also reflect increased investments in personnel along with $0.5 million in incremental costs attributed to the sauce and dressing plant acquisition.

Restructuring and impairment charges of $5.1 million in the current-year quarter include $4.5 million in charges attributed to the planned closure of our sauce and dressing facility in Milpitas, California as part of our ongoing initiative to better optimize our manufacturing network. The $4.5 million consists of impairment charges for personal property and operating lease right-of-use assets; one-time termination benefits; and other costs associated with the pending closure. Production at the facility is expected to conclude during the quarter ending September 30, 2025. In the prior-year quarter, restructuring and impairment charges of $2.7 million were attributed to our decision to exit our perimeter-of-the-store bakery product lines.

Consolidated operating income declined $2.8 million to $38.9 million as impacted by the higher SG&A expenses and the $2.4 million increase in restructuring and impairment charges, partially offset by the higher gross profit.

Net income decreased $2.3 million to $32.5 million, or $1.18 per diluted share, versus $34.8 million, or $1.26 per diluted share, last year. In the current-year quarter, the restructuring and impairment charges reduced net income by $4.0 million, or $0.15 per diluted share. Incremental SG&A expenditures attributed to the sauce and dressing plant acquisition reduced net income by $0.4 million, or $0.01 per diluted share. In the prior-year quarter, restructuring and impairment charges reduced net income by $2.1 million, or $0.08 per diluted share.

MORE. . .

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PAGE 3 / THE MARZETTI COMPANY REPORTS FOURTH QUARTER AND FISCAL YEAR RESULTS

**Fiscal Year Results**

For the fiscal year ended June 30, 2025, net sales increased 2.0% to $1.91 billion compared to $1.87 billion a year ago. Net income for the fiscal year totaled $167.3 million, or $6.07 per diluted share, versus the prior-year amount of $158.6 million, or $5.76 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 account for restructuring and impairment charges that reduced net income by $4.0 million, or $0.15 per diluted share, and incremental SG&A expenditures attributed to our acquisition of the Atlanta-based sauce and dressing production facility that reduced net income by $2.9 million, or $0.11 per diluted share. In fiscal 2024, restructuring and impairment charges reduced net income by $11.4 million, or $0.42 per diluted share.

**Fiscal 2026 Outlook**

Mr. Ciesinski commented, "Looking ahead to fiscal 2026, we anticipate Retail segment sales will continue to benefit from volume growth, with contributions from both our licensing program and our Marzetti<sup>®</sup>, New York Bakery<sup>TM</sup>, and Sister Schubert's<sup>®</sup> brands. In the Foodservice segment, we expect sales to be supported by select quick-service restaurant customers in our mix of national chain restaurant accounts, while external factors, including U.S. economic performance and consumer behavior, may impact demand. With respect to our input costs, in aggregate we anticipate a modest level of inflation in fiscal 2026 that we plan to offset through contractual pricing and our cost savings programs as we remain focused on continued margin improvement in the year ahead."

**Conference Call on the Web**

The company's fourth quarter and fiscal year-end conference call is scheduled for this morning, August 21, 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:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• efficiencies in plant operations and our overall supply chain network;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• price and product competition;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the success and cost of new product development efforts;*

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PAGE 4 / THE MARZETTI COMPANY REPORTS FOURTH QUARTER AND FISCAL YEAR RESULTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the lack of market acceptance of new products;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• changes in demand for our products, which may result from changes in consumer behavior or loss of brand reputation or customer goodwill;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the impact of customer store brands on our branded retail volumes;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the impact of any laws and regulatory matters affecting our food business, including any additional requirements imposed by the FDA or any state or local government;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the extent to which good-fitting business acquisitions are identified, acceptably integrated, and achieve operational and financial performance objectives;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• inflationary pressures resulting in higher input costs;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• fluctuations in the cost and availability of ingredients and packaging;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• adverse changes in freight, energy or other costs of producing, distributing or transporting our products;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the reaction of customers or consumers to pricing actions we take to offset inflationary costs;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• adverse changes in trade policies, including increased tariffs, retaliatory trade measures, or other trade restrictions;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• dependence on key personnel and changes in key personnel;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• adequate supply of labor for our manufacturing facilities;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• stability of labor relations;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• geopolitical events that could create unforeseen business disruptions and impact the cost or availability of raw materials and energy;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• dependence on a wide array of critical third parties to support our operations, including contract manufacturers, distributors, logistics providers and IT vendors;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• cyber-security incidents, information technology disruptions, and data breaches;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the potential for loss of larger programs or key customer relationships;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• capacity constraints that may affect our ability to meet demand or may increase our costs;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• failure to maintain or renew license agreements;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the possible occurrence of product recalls or other defective or mislabeled product costs;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the effect of consolidation of customers within key market channels;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• maintenance of competitive position with respect to other manufacturers;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the outcome of any litigation or arbitration;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• 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 disease outbreaks;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• changes in estimates in critical accounting judgments; and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• 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.* 

# # # #

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| | |
|:---|:---|
| 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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MORE. . .

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PAGE 5 / THE MARZETTI COMPANY REPORTS FOURTH QUARTER AND FISCAL YEAR RESULTS

THE MARZETTI COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

(In thousands except per-share amounts)

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended <br>June 30, | Three Months Ended <br>June 30, | Fiscal Year Ended <br>June 30, | Fiscal Year Ended <br>June 30, |
| | 2025 | 2024 | 2025 | 2024 |
| Net sales | $475427 | $452825 | $1909122 | $1871759 |
| Cost of sales | 369335 | 355207 | 1453476 | 1439457 |
| Gross profit | 106092 | 97618 | 455646 | 432302 |
| Selling, general & administrative expenses | 62075 | 53193 | 230227 | 218065 |
| Restructuring and impairment charges | 5102 | 2737 | 5102 | 14874 |
| Operating income | 38915 | 41688 | 220317 | 199363 |
| Pension settlement charge |  |  | (13968) |  |
| Other, net | 1594 | 2122 | 7114 | 6152 |
| Income before income taxes | 40509 | 43810 | 213463 | 205515 |
| Taxes based on income | 7980 | 8982 | 46116 | 46902 |
| Net income | $32529 | $34828 | $167347 | $158613 |
| Net income per common share: (a) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.18 | $1.27 | $6.08 | $5.77 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $1.18 | $1.26 | $6.07 | $5.76 |
| Cash dividends per common share | $0.95 | $0.90 | $3.75 | $3.55 |
| Weighted average common shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 27457 | 27447 | 27469 | 27440 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 27488 | 27482 | 27489 | 27461 |

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(a)Based on the weighted average number of shares outstanding during each period.

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PAGE 6 / THE MARZETTI COMPANY REPORTS FOURTH QUARTER AND FISCAL YEAR RESULTS

THE MARZETTI COMPANY

BUSINESS SEGMENT INFORMATION (Unaudited)

(In thousands)

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended <br>June 30, | Three Months Ended <br>June 30, | Fiscal Year Ended <br>June 30, | Fiscal Year Ended <br>June 30, |
| | 2025 | 2024 | 2025 | 2024 |
| <u>NET SALES</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | $241554 | $234194 | $1003409 | $988424 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foodservice | 233873 | 218631 | 905713 | 883335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Net Sales | $475427 | $452825 | $1909122 | $1871759 |
| <u>OPERATING INCOME</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | $40905 | $47702 | $211695 | $207660 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foodservice | 28835 | 18982 | 111579 | 97094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonallocated Restructuring and Impairment Charges | (5102) | (2737) | (5102) | (14874) |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Expenses | (25723) | (22259) | (97855) | (90517) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Operating Income | $38915 | $41688 | $220317 | $199363 |

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THE MARZETTI COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands)

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| | | |
|:---|:---|:---|
| | June 30,<br>2025 | June 30,<br>2024 |
| <u>ASSETS</u> |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and equivalents | $161476 | $163443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivables | 95817 | 95560 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 169301 | 173252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 17037 | 11738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 443631 | 443993 |
| Net property, plant and equipment | 534543 | 477696 |
| Other assets | 296550 | 285242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $1274724 | $1206931 |

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| | | |
|:---|:---|:---|
| <u>LIABILITIES AND SHAREHOLDERS' EQUITY</u> |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $117962 | $118811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 68332 | 65158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 186294 | 183969 |
| Noncurrent liabilities and deferred income taxes | 89935 | 97190 |
| Shareholders' equity | 998495 | 925772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $1274724 | $1206931 |

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# # # #

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