Pinnacle Foods Inc. PF reaffirmed its full year earnings outlook of $2.08-$2.13 a share for the full year 2016. This excluded items affecting the comparability.
Pinnacle Foods made the reaffirmation ahead of the new CEO, Mark Clouse, joining on May 23. The company is also holding a conference with both analysts, as well as, investors on May 24. Its reiteration meant that there would not be any big changes in the outlook.
In the first quarter, net earnings grew 3.3 percent to $47.4 million from $45.9 million while earnings per share rose 2.6 percent to $0.40 from $0.39 in the year-ago period. Its net sales increased 13.4 percent to $754.3 million in the first quarter.
The stock closed at $42.00 on Thursday.
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