Snyder's-Lance Updates 2017 Outlook

(RTTNews) - Snyder's-Lance Inc. (LNCE) revised expectations for the remainder of the year, for the full-year of fiscal 2017, the company continues to expect net revenue to be between $2.200 billion and $2.250 billion, and now expects adjusted EBITDA to be between $300 million and $325 million, and earnings per share, excluding special items, to be between $1.10 and $1.20, compared to prior outlook of $1.05 - $1.20 per share.

Analysts polled by Thomson Reuters expect the company to report earnings of $1.10 per share and revenues of $2.21 billion for 2017. Analysts' estimates typically exclude special items.

The company believes that the execution of the strategic initiatives underlying the transformation plan will enhance the Company's margin profile and deliver long-term sustainable value to shareholders.

By 2020, the company targets for operating margin to reach 14.0% and earnings per share, excluding special items, to grow at a four-year CAGR of 11-13%.