The Marzetti Company · NASDAQ:MZTI
The Marzetti — Q3 2026 Earnings Presentation
19 slides from The Marzetti's earnings presentation, May 4, 2026
Slide 1: FY26 Q3 Earnings Presentation
FY26 Q3 Earnings Presentation Fiscal Period Ended March 31, 2026 May 4, 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: Highlights
Highlights Bachan’s Acquisition On May 1, we completed the acquisition of Bachan’s, the fast-growing Japanese Barbecue Sauce brand known for its delicious, authentic, clean-label products Integration plans are on track Business continues to grow and is now the second-leading retail brand in the barb
Slide 4: Highlights (continued)
Highlights (continued) FY26 Q3 Consolidated net sales declined 1.0% to $453.4 million versus $457.8 million last year The company achieved record third quarter gross profit of $107.2 million, with reported gross margin up 50 basis points driven by our ongoing cost savings initiatives Operating Incom
Slide 5: Bachan's Acquisition Highlights
Bachan’s Acquisition Highlights Acquisition completed on May 1, 2026 Bachan’s is the fast-growing Japanese Barbecue Sauce brand known for its delicious, authentic, clean-label products Bachan’s continues the path of strong growth, with Circana data for the quarter ending March 31, showing sales grow
Slide 6: Bachan's Acquisition Highlights (continued)
Bachan’s Acquisition Highlights (continued) Bachan’s business operations will remain in California, with a very strong leadership team in place Marzetti will enable Bachan’s to leverage our culinary expertise, procurement capabilities, and supply chain expertise to support both continued growth and
Slide 7: Retail Segment Highlights
Retail Segment Highlights Retail segment Net Sales declined 3.2% to $233.8 million, while volume (measured in pounds shipped) declined 5.6% Our category-leading New York BakeryTM and Sister Schubert’s® frozen bread brands performed well • New York Bakery garlic bread products continued their traject
Slide 8: Retail Category Highlights
Retail Category Highlights Category Brand $ Sales and Share Highlights Frozen Garlic Bread New York Bakery New York Bakery grew sales 4.4%, resulting in a category-leading market share of 46.7% Texas Roadhouse® Texas Roadhouse and Sister Schubert’s combined to Frozen Dinner Rolls grow 10.1%, resulti
Slide 9: Foodservice Segment Highlights
Foodservice Segment Highlights Foodservice segment Net Sales grew 1.5% to $219.6 million Excluding the non-core TSA sales, attributed to a temporary supply agreement (“TSA”) with Winland Foods, Inc. that totaled $1.5 million in the current-year quarter and $2.1 million last year, Adjusted Foodservic
Slide 10: Financial Performance – Net Sales
Financial Performance – Net Sales ($ in millions) (1.2)% 0.3% (0.1%) (1.0)% Core (0.9)% * Values may not foot due to rounding * Incremental Foodservice sales associated with the Winland Foods TSA 10
Slide 11: Financial Performance – Gross Margin
Financial Performance – Gross Margin Reported Gross Margin increased to 23.6%, while Adjusted Gross Margin* improved to 23.7%, driven by: ‐ Ongoing cost savings programs ‐ Inflationary pricing offset cost inflation *See Appendix page A-1 for a reconciliation of our non-GAAP measures to their most co
Slide 12: Financial Performance – Operating Income
Financial Performance – Operating Income Operating Income declined $3.3 million to $46.6 million, due to: Core Business Performance Higher gross profit driven by our cost savings programs More than offset by increased core SG&A expense, including a higher level of investments in personnel and IT Oth
Slide 13: Financial Performance – EPS Bridge (Diluted)
Financial Performance – EPS Bridge (Diluted) EPS (diluted) declined $0.14 to $1.35 Core Business Performance In the current-year quarter, core business performance reduced net income by $0.11 per diluted share Other Items In the prior-year quarter, acquisition-related costs reduced net income by $0.
Slide 14: Cash Flow and Balance Sheet Highlights
Cash Flow and Balance Sheet Highlights Year-to-date operating cash flow increased +30%, to $229 million, up from $173 million in the prior-year period FY26 Q3 payments for property additions totaled $21.3 million We anticipate FY26 capital expenditures will total approximately $80 million Cash divid
Slide 15: 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 new product intr
Slide 16: 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 balance of FY26 that we plan to offset through cont
Slide 17: Appendix
APPENDIX The MarzettiCompany ‘
Slide 18: 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 March 31, 2026 Three Months Ended March 31, 2025 Adjusted Adjusted (Unaudited, Dollars in Thousands) Reported TSA-Related (non-GAAP) Reported TSA-Related (non-GAAP) Consolidated Net Sales $ 453,368 $ 1,539 $ 451,829 $ 4
Slide 19: Reconciliation of GAAP to non-GAAP Operating Income
Reconciliation of GAAP to non-GAAP Operating Income Three Months Ended March 31 (Unaudited, Dollars in Thousands) 2026 2025 Change Reported Operating Income $ 46,577 $ 49,877 $ (3,300) -6.6% SG&A Expenses - Acquisition Costs $ 3,535 $ 1,710 $ 1,825 106.7% Restructuring, Impairment and Other, Net $ (