Amplify Snack Brands (BETR) Reports In-Line Q1 EPS; Bumps Outlook

Amplify Snack Brands (NYSE: BETR) reported Q1 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter came in at $54.3 million versus the consensus estimate of $53.94 million.

GUIDANCE:

Amplify Snack Brands sees FY2016 EPS of $0.61-$0.64, versus the consensus of $0.62. Amplify Snack Brands sees FY2016 revenue of $233-237 million, versus the consensus of $234.3 million.

“We started 2016 with continued and excellent momentum,” said Tom Ennis, Amplify’s President and Chief Executive Officer. “Our performance was driven by distribution gains and strong velocity of the SkinnyPop brand across sales channels and we are off to a great start with our national launch of the Paqui brand. As we have historically done during our first fiscal quarter, we made significant and planned trade promotion investments to support both the SkinnyPop and Paqui brands, resulting in robust productivity during the period while also driving increased trial and brand awareness in both new and existing distribution channels. Based on these positive financial results and the momentum of the existing business, we are raising our financial outlook for the year.”

For earnings history and earnings-related data on Amplify Snack Brands (BETR) click here.

You May Also Be Interested In

• Solstice acquiring Element Solutions in $14.5B cash and stock deal
• Midera Food Processing begins trading on Nasdaq after Middleby spin-off
• S&P Global releases recast financials after Mobility spin-off