The Marzetti Company · NASDAQ:MZTI
The Marzetti — Q1 2026 Earnings Presentation
16 slides from The Marzetti's earnings presentation, Nov 4, 2025
Slide 1: FY26 Q1 Earnings Presentation
FY26 Q1 Earnings Presentation Fiscal Period Ended September 30, 2025 November 4, 2025
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 Q1 Highlights
FY26 Q1 Highlights First quarter record high Net Sales, Gross Profit and Operating Income Consolidated Net Sales increased 5.8% to $493.5 million. Excluding the $10.7 million in non-core sales attributed to a temporary supply agreement (“TSA”), Adjusted Net Sales* increased 3.5% to $482.8 million Gr
Slide 4: Retail Segment Highlights
Retail Segment Highlights Retail segment Net Sales improved 3.5% to $247.8 million, primarily driven by: ‐ Category-leading New York Bakery frozen garlic bread products ‐ Chick-fil-A® sauce sales gains, in both traditional retail and the club channels ‐ Growth across the Buffalo Wild Wings® product
Slide 5: Retail Category Highlights
Retail Category Highlights Category Brand $ Sales and Share Highlights Texas Roadhouse Licensed Texas Roadhouse and Sister Schubert’s Frozen Dinner Rolls combined to grow 27.4%, resulting in a market share increase of 650 basis points, to a category-leading Sister Schubert’s® 66.5% New York Bakery F
Slide 6: Foodservice Segment Highlights
Foodservice Segment Highlights Foodservice segment Net Sales grew 8.2% to $245.6 million. Excluding the $10.7 million in non-core sales attributed to the TSA, Foodservice Adjusted Net Sales* advanced 3.5%, while volume increased 0.5% The Net Sales growth was driven by: ‐ Increased demand from some o
Slide 7: Financial Performance – Net Sales
Financial Performance – Net Sales ($ in millions) 2.1% 1.4% 2.3% 5.8% Core 3.5% * 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 24.1%, while Adjusted Gross Margin* improved to 24.6%, driven by: ‐ Ongoing cost savings programs ‐ Volume growth * *See Appendix page A-1 for a reconciliation of our non-GAAP measures to their most comparable GAAP financial mea
Slide 9: Financial Performance – Operating Income
Financial Performance – Operating Income Operating Income increased $3.4 million to $59.3 million, due to higher gross profit driven by our cost savings programs and volume growth, partially offset by: increased SG&A expense, as we invested to support the continued growth of our Retail brands; and r
Slide 10: Financial Performance – EPS Bridge (Diluted)
Financial Performance – EPS Bridge (Diluted) EPS (diluted) improved $0.09 or 5.6% to $1.71. Core business performance accounted for a $0.12 increase, partially offset by $0.03 in restructuring and impairment charges. * Values may not foot due to rounding * FY26 Q1 restructuring and impairment charge
Slide 11: Cash Flow and Balance Sheet Highlights
Cash Flow and Balance Sheet Highlights FY26 Q1 net cash provided by operating activities increased $49.6 million to $69.5 million FY26 Q1 payments for property additions totaled $15.6 million We anticipate FY26 capital expenditures between $75 and $85 million Cash dividend of $0.95 per share paid on
Slide 12: Outlook
Outlook Going forward, The Marzetti Company 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 Sales Outlook, FY26 Q2 and the remainde
Slide 13: Outlook (continued)
Outlook (continued) In aggregate, we anticipate a modest level of input cost inflation for the remainder of FY26 that we plan to offset through contractual pricing and our ongoing cost savings programs as we remain focused on continued margin improvement Newly acquired Atlanta-based sauce and dressi
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 September 30, 2025 Adjusted (Unaudited, Dollars in Thousands) Reported TSA-Related (non-GAAP) Consolidated Net Sales $ 493,472 $ 10,691 $ 482,781 Cost of Sales $ 374,653 $ 10,691 $ 363,962 Gross Profit $ 118,819 $ - $ 1
Slide 16: Reconciliation of GAAP to non-GAAP Operating Income
Reconciliation of GAAP to non-GAAP Operating Income Three Months Ended September 30 (Unaudited, Dollars in Thousands) 2025 2024 Change Reported Operating Income $ 59,260 $ 55,864 $ 3,396 6.1% Restructuring and Impairment Charges $ 1,143 $ - $ 1,143 N/M Adjusted Operating Income (non-GAAP) $ 60,403 $