The Marzetti Company · NASDAQ:MZTI
The Marzetti — Q1 2027 Earnings Presentation
18 slides from The Marzetti's earnings presentation, Nov 3, 2026
Slide 1: FY27 Q1 Earnings Presentation
FY27 Q1 Earnings Presentation Fiscal Period Ended September 30, 2026 November 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: FY27 Q1 Highlights
FY27 Q1 Highlights Reported consolidated net sales declined 2.4% to $481.5 million • Adjusted Consolidated Net Sales* declined 0.3%, as both Retail and Foodservice were significantly impacted by the cyclospora outbreak, particularly across our dressing, dip and crouton product lines • Retail sales g
Slide 4: FY27 Q1 Highlights (continued)
FY27 Q1 Highlights (continued) Operating income declined $17.8 million, to $41.4 million • Core Business Performance: Decreased $16.5 million due to: ‐ Lower gross profit as the benefits of incremental Bachan’s gross profit and productivity gains were more than offset by: • Unfavorable impacts of th
Slide 5: Bachan's Acquisition Highlights
Bachan’s Acquisition Highlights Bachan’s continues the path of strong growth, with Circana data for the quarter ending September 30, showing sales growth of 10.7%, TDPs up 7.0% and dollar sales velocity up 13.0% Bachan’s added $17.8 million in net sales for quarter ended September 30, accounting for
Slide 6: Q1 Retail Segment Highlights
Q1 Retail Segment Highlights Net sales grew 2.0% to $252.7 million, while volume (measured in pounds shipped) improved 0.4% Net sales growth was driven by: • Bachan’s contributing $17.8 million in incremental net sales • Strong demand for Texas Roadhouse rolls as consumption per Circana grew 21.3% G
Slide 7: Q1 Retail Category Trends
Q1 Retail Category Trends Frozen Bread and Bachan’s Momentum Offset by Cyclospora Impact Category Marzetti Brand Highlights New York Bakery grew sales 5.1%, well ahead of the New York Bakery category’s 0.6% decline, resulting in +250 basis Frozen Garlic Bread points of share growth and a category-le
Slide 8: Q1 Foodservice Segment Highlights
Q1 Foodservice Segment Highlights Foodservice segment net sales decreased 6.9% to $228.8 million Adjusted Foodservice Net Sales* decreased 2.6%, while volume (measured in pounds shipped) fell 4.1%, as strength from select national chain accounts was offset by the unfavorable impacts of the cyclospor
Slide 9: Q1 Financial Performance – Net Sales
Q1 Financial Performance – Net Sales ($ in millions) 3.6% 0.8% (4.6)% (2.2)% (2.4)% Core (0.2)% * Values may not foot due to rounding * The cyclospora outbreak is estimated to account for a volume / mix decline of approximately 3% 9
Slide 10: Q1 Financial Performance – Gross Margin
Q1 Financial Performance – Gross Margin Reported Gross Margin declined 110 basis points to 23.0% as the benefits of incremental Bachan’s gross profit and our cost savings programs were more than offset by: • Lower organic sales volumes attributed to the impacts of the cyclospora outbreak and the ass
Slide 11: Q1 Financial Performance – Operating Income
Q1 Financial Performance – Operating Income Operating Income declined $17.8 million to $41.4 million driven by the lower gross profit and increased SG&A ($ in millions) Core ($16.5) ($17.8) Other Items - Other Items – SG&A All other Values may not foot due to rounding 11
Slide 12: Q1 Financial Performance – EPS (diluted)
Q1 Financial Performance – EPS (diluted) EPS (diluted) decreased $0.64 to $1.07, driven by the lower gross profit and higher SG&A Other Items - Other Items – SG&A All other Values may not foot due to rounding 12
Slide 13: Q1 Financial Performance – EPS (diluted) Reported to Adjusted (non-GAAP)
Q1 Financial Performance – EPS (diluted) Reported to Adjusted (non-GAAP) Other Items - SG&A * * See Appendix page A2 for a reconciliation of our non-GAAP measures to their most comparable GAAP financial measures Values may not foot due to rounding 13
Slide 14: FY27 Q1 Cash Flow and Balance Sheet Overview
FY27 Q1 Cash Flow and Balance Sheet Overview Net cash provided by operating activities totaled $51.0 million, compared with $69.5 million in the prior-year period. The decrease was primarily due to lower net income. Payments for property additions totaled $17.8 million. Interest expense totaled $2.8
Slide 15: FY27 Outlook
FY27 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 incremental sale
Slide 16: Appendix
APPENDIX The MarzettiCompany ‘
Slide 17: 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, 2026 Three Months Ended September 30, 2025 Adjusted Adjusted (Dollars in thousands) Reported TSA-Related (non-GAAP) Reported TSA-Related (non-GAAP) Consolidated Net Sales $ 481,522 $ — $ 481,522 $ 493,472
Slide 18: Reconciliation of GAAP to non-GAAP Operating Income and Diluted EPS
Reconciliation of GAAP to non-GAAP Operating Income and Diluted EPS Note: Adjusted Operating Income and Adjusted Diluted EPS are non-GAAP financial measures that exclude certain items affecting comparability, which can impact the analysis of our underlying core business performance and trends. The t