The Marzetti Company · NASDAQ:MZTI
The Marzetti — Q2 2026 Earnings Presentation
16 slides from The Marzetti's earnings presentation, Feb 3, 2026
Slide 1: FY26 Q2 Earnings Presentation
FY26 Q2 Earnings Presentation Fiscal Period Ended December 31, 2025 February 3, 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation was prepared by The Marzetti Company for information purposes only and is not an offer or solicitation with respect to the purchase or sale of Company securities. We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation
Slide 3: FY26 Q2 Highlights
FY26 Q2 Highlights Consolidated net sales increased 1.7% to $518.0 million. Excluding $8. 2 million in non-core sales attributed to a temporary supply agreement (“TSA”) with Winland Foods, Inc., Adjusted Consolidated Net Sales* increased 0.1% to $509.8 million. Gross Profit improved $4.5 million or
Slide 4: Retail Segment Highlights
Retail Segment Highlights Retail segment Net Sales declined 1.1% to $277.5 million, while volume (measured in pounds shipped) declined 3.1% The 1.1% decline in Retail segment net sales compares to strong prior -year growth of 6.3% and reflects softer demand during the timeframe of the U.S. governmen
Slide 5: Retail Category Highlights
Retail Category Highlights Category Brand $ Sales and Share Highlights Frozen Garlic Bread New York Bakery New York Bakery grew sales 8.4%, adding 300 basis points of market share, to a category-leading 44.6% Licensed Texas Roadhouse and Sister Schubert’s Texas Roadhouse® combined to grow 7.1%, resu
Slide 6: Foodservice Segment Highlights
Foodservice Segment Highlights Foodservice segment Net Sales grew 5.2% to $240.4 million. Excluding the $8.2 million in non-core sales attributed to the TSA, Adjusted Foodservice Net Sales* advanced 1.6%, while volume (measured in pounds shipped) declined 0.4% The Adjusted Net Sales* growth was driv
Slide 7: Financial Performance – Net Sales
Financial Performance – Net Sales ($ in millions) (1.3)% 1.4% 1.6% 1.7% Core 0.1% * Values may not foot due to rounding * Incremental Foodservice sales associated with the Winland Foods TSA 7
Slide 8: Financial Performance – Gross Margin
Financial Performance – Gross Margin Reported Gross Margin increased to 26.5%, while Adjusted Gross Margin* improved to 26.9%, driven by: ‐ Ongoing cost savings programs ‐ Inflationary pricing to offset cost inflation * *See Appendix page A-1 for a reconciliation of our non-GAAP measures to their mo
Slide 9: Financial Performance – Operating Income
Financial Performance – Operating Income Operating Income declined $0.5 million to $75.2 million, due to: Higher gross profit driven by our cost savings programs and Inflationary pricing to balance cost inflation, offset by Increased core SG&A expense to support the growth of our Retail brands Restr
Slide 10: Financial Performance – EPS Bridge (Diluted)
Financial Performance – EPS Bridge (Diluted) EPS (diluted) improved $0.37 to $2.15 In the prior-year quarter, the noncash settlement charge attributed to the termination of the company’s legacy pension plans reduced earnings per share by $0.39 per diluted share and acquisition-related costs reduced
Slide 11: Cash Flow and Balance Sheet Highlights
Cash Flow and Balance Sheet Highlights FY26 Q2 payments for property additions totaled $17.7 million We anticipate FY26 capital expenditures between $75 and $85 million Cash dividend of $1.00 per share paid on December 31, an increase of 5.3% versus the prior year - enduring streak of annual dividen
Slide 12: FY26 Outlook
FY26 Outlook We will continue to support the three pillars of our growth plan: ‐ Accelerate core business growth ‐ Simplify our supply chain to reduce costs and grow margins ‐ Expand our core with focused M&A and strategic licensing Retail segment sales will continue to benefit from our expanding li
Slide 13: FY26 Outlook (continued)
FY26 Outlook (continued) We will continue to monitor external factors, including U.S. economic performance and consumer behavior, that may impact the demand for our products In aggregate, we anticipate a modest level of input cost inflation for the remainder of FY26 that we plan to offset through co
Slide 14: Appendix
APPENDIX The MarzettiCompany«
Slide 15: Reconciliation of GAAP to non-GAAP Net Sales and Gross Margin
Reconciliation of GAAP to non-GAAP Net Sales and Gross Margin Three Months Ended December 31, 2025 Adjusted (Unaudited, Dollars in Thousands) Reported TSA-Related (non-GAAP) Consolidated Net Sales $ 517,953 $ 8,185 $ 509,768 Cost of Sales $ 380,693 $ 8,185 $ 372,508 Gross Profit $ 137,260 $ - $ 137,
Slide 16: Reconciliation of GAAP to non-GAAP Operating Income
Reconciliation of GAAP to non-GAAP Operating Income Three Months Ended December 31 (Unaudited, Dollars in Thousands) 2025 2024 Change Reported Operating Income $ 75,184 $ 75,661 $ (477) -0.6% SG&A Expenses - Acquisition Costs $ - $ 1,620 $ (1,620) -100.0% Restructuring and Impairment Charges $ 1,667