Pinnacle Foods reports EPS in-line, misses on revs; guides FY16 EPS in-line
- Reports Q1 (Mar) earnings of $0.40 per share, in-line with the Capital IQ Consensus of $0.40; revenues rose 13.4% year/year to $754.3 mln vs the $774.55 mln Capital IQ Consensus.
- Co issues reaffirms guidance for FY16, sees EPS of $2.08-2.13 vs. $2.11 Capital IQ Consensus Estimate.
- Adjusted EBITDA in the first quarter of 2016 grew 13.2% to $131.7 mln, compared to $116.3 mln in the first quarter of 2015.
- This outlook includes the following unchanged assumptions: Input cost inflation for the year is estimated in the range of 2% to 3%. Productivity for the year is estimated in the range of 3.5% to 4.0% of cost of products sold, including Boulder Brands organic cost savings, but excluding acquisition synergies.