Snyder's-Lance (LNCE) Tops Q2 EPS by 1c

Snyder's-Lance (NASDAQ: LNCE) reported Q2 EPS of $0.27, $0.01 better than the analyst estimate of $0.26. Revenue for the quarter came in at $431 million versus the consensus estimate of $430.14 million.

"Our team delivered solid results for the second quarter, continuing our positive momentum for 2015. Our balanced portfolio of 'better for you' and premium products are winning with consumers looking for snacks that taste great and provide fuel for their busy day," said Carl E. Lee, Jr., President and CEO. "During the second quarter, core brand sales were led by Cape Cod® Kettle Chips which grew at double digits. Snyder's of Hanover® pretzels gained significant market share during the quarter thanks to innovative new products and our new advertising campaign, 'Discover the Pretzelbilities'™. Snack Factory® Pretzel Crisps® and Late July® both delivered strong top line performance and market share gains driven by the Clearview Division team. Lance® sandwich crackers gained market share over the latest 26 weeks, led by our balanced distribution strategy of leveraging DSD and Direct Sales to improve retail execution and reach new customers. During the second quarter, we secured new distribution for Lance® driving incremental growth for this renovated brand. Expense control across the company has been a focus all year contributing to operating margin expansion for the quarter. In addition, we accomplished two significant system implementations that came online flawlessly in the second quarter, showing once again our excellence in this area. Overall, we had a good quarter and I am very proud of our team for their commitment to winning."

Mr. Lee continued, "Snyder's-Lance is perfectly positioned for success as consumers and retailers continue to reshape the snacking industry. As a nimble mid-size company, we are able to respond quickly to emerging trends with our balanced portfolio and balanced distribution strategies. While the commitment to innovation and the growth of our brands is stronger than ever, we are just as determined to continue our focus on cost reductions. We have balanced our execution over the past few years to invest in manufacturing capacity, brands, systems, R&D, sales teams and productivity while increasing our margins. With most of the renovation and investment in infrastructure behind us, we are spending even more time on expanding margins and driving shareholder value. We are enthusiastic about the future as we build on our momentum."

For earnings history and earnings-related data on Snyder's-Lance (LNCE) click here.

You May Also Be Interested In

• Tesla to launch Cybercab in Austin this month - report
• CalPrivate Bank names Andra Frazier as chief credit officer
• Smith-Midland Corporation (SMID) Tops Q2 EPS by 26c