Pinnacle Foods (PF) Reports In-Line Q1 EPS; Reaffirms

Pinnacle Foods (NYSE: PF) reported Q1 EPS of $0.39, in-line with the analyst estimate of $0.39. Revenue for the quarter came in at $665.3 million versus the consensus estimate of $661.79 million.

Pinnacle Foods sees FY2015 EPS of $1.86-$1.91, versus the consensus of $1.89.

Commenting on the results, Pinnacle Foods Chief Executive Officer Bob Gamgort stated, "We are pleased with our solid start to 2015. Market share growth across our portfolio—particularly on our Birds Eye franchise—enabled us to offset weak composite category performance, and we delivered modest gross margin expansion in a quarter in which input cost inflation exceeded productivity. We are excited about our innovation for this year, much of which will be launched in the second quarter, and we remain confident in our previous outlook for 7% to 10% growth in EPS for the year."

For earnings history and earnings-related data on Pinnacle Foods (PF) click here.

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