The 10-second takeaway
For the quarter ended Sep. 29 (Q3), Snyder's-Lance met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share grew significantly.
Margins grew across the board.
Snyder's-Lance booked revenue of $406.6 million. The nine analysts polled by S&P Capital IQ expected net sales of $411.7 million on the same basis. GAAP reported sales were 3.6% lower than the prior-year quarter's $421.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.28. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.26 per share. GAAP EPS of $0.26 for Q3 were 100% higher than the prior-year quarter's $0.13 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 33.7%, 30 basis points better than the prior-year quarter. Operating margin was 7.3%, 310 basis points better than the prior-year quarter. Net margin was 4.4%, 230 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $437.2 million. On the bottom line, the average EPS estimate is $0.31.
Next year's average estimate for revenue is $1.64 billion. The average EPS estimate is $0.95.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 71 members out of 84 rating the stock outperform, and 13 members rating it underperform. Among 28 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 24 give Snyder's-Lance a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Snyder's-Lance is outperform, with an average price target of $27.13.
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