Snyder's-Lance Updates Full-year Outlook - Quick Facts

(RTTNews) - Snyder's-Lance, Inc. (LNCE) announced, for fiscal 2017, the company now expects net revenue to be between $2.205 billion and $2.255 billion, adjusted EBITDA to be between $305 million and $320 million, and earnings per share, excluding special items, to be between $1.12 and $1.17. Previously, the company projected net revenue of $2.20 billion to $2.25 billion, adjusted EBITDA of $300 million to $325 million, and earnings per share, excluding special items, in the range of $1.10 and $1.20.

Third-quarter EPS from continuing operations excluding special items increased 10% to $0.33. Adjusted EBITDA from continuing operations was $85.2 million, compared to $74.7 million, prior year. Total net revenue from continuing operations increased 3.7% with core branded growth of 4.9% year over year.

"Our third quarter financial performance continued to improve along several dimensions. Gross margin performance was strong at 37.1% of net revenue compared to 36.8% in 2016. Selling, general and administrative performance also improved to 26.3% of net revenue compared to 28.0% last year. On top of these improving profitability trends, our branded net revenue growth continues to outpace the category, and we are on track to deliver our full-year targets," said Brian Driscoll, CEO of Snyder's-Lance.