Pinnacle Foods Reaffirms Outlook for 2017
December 13 2017 - 4:15PM
In connection with an investor gathering in Colorado that the
Company is hosting tomorrow, Pinnacle Foods Inc. (NYSE:PF) today
reaffirmed its outlook for full year 2017 Adjusted diluted EPS at
the low end of its guidance range, or $2.55 per share.
Non-GAAP Measure: Adjusted diluted earnings per shareForecasted
Adjusted diluted EPS provided herein is a non-GAAP measure.
The Company does not provide guidance for the most directly
comparable GAAP measure, diluted EPS, and similarly cannot provide
a reconciliation between forecasted Adjusted diluted EPS and
diluted EPS without unreasonable effort due to the unavailability
of reliable estimates for certain line items, such as non-cash
gains or losses resulting from mark-to-market adjustments of
hedging activities and foreign currency impacts. These items
are not within the Company’s control and may vary greatly between
periods and could significantly impact future financial
results.
The Company believes that Adjusted diluted EPS provides
transparent and useful information to management, investors,
analysts and other parties in evaluating and assessing its primary
operating results from period to period after removing the impact
of unusual, non-operational or restructuring-related activities
that affect comparability. Adjusted diluted EPS is used by
management for planning and budgeting and for monitoring and
evaluating financial and operating results.
Pinnacle Foods ContactMaria Sceppaguercio Sr.
Vice President, Investor Relations973-541-8629
About Pinnacle Foods Inc. Pinnacle Foods Inc.
(NYSE:PF) is a leading manufacturer, marketer and distributor of
high-quality branded food products with a mission of unleashing
brand potential. With annual sales in excess of $3 billion,
our portfolio includes well-known brands competing in frozen,
refrigerated and shelf-stable formats, such as Birds Eye, Birds Eye
Voila!, Duncan Hines, Earth Balance, EVOL, Gardein, Glutino,
Hungry-Man, Log Cabin, Udi’s, Vlasic, and Wish-Bone, along with
many others. The company is headquartered in Parsippany, NJ
and has nearly 5,000 employees across the U.S. and Canada.
For more information, please visit www.pinnaclefoods.com.
Forward-Looking Statements
This release may contain statements that predict or forecast
future events or results, depend on future events for their
accuracy or otherwise contain "forward-looking information." The
words "estimates," "expects," "contemplates," "anticipates,"
"projects," "plans," "intends," "believes," "forecasts," "may,"
"should," and variations of such words or similar expressions are
intended to identify forward-looking statements. These statements
are made based on management's current expectations and beliefs
concerning future events and various assumptions and are not
guarantees of future performance. Actual results may differ
materially as a result of various factors, some of which are beyond
our control, including but not limited to: general economic and
business conditions, deterioration of the credit and capital
markets, industry trends, our leverage and changes in our leverage,
interest rate changes, changes in our ownership structure,
competition, the loss of any of our major customers or suppliers,
changes in demand for our products, changes in distribution
channels or competitive conditions in the markets where we operate,
costs of integrating acquisitions, loss of our intellectual
property rights, fluctuations in price and supply of raw materials,
seasonality, our reliance on co-packers to meet our manufacturing
needs, availability of qualified personnel, changes in the cost of
compliance with laws and regulations, including environmental laws
and regulations, and the other risks and uncertainties detailed in
our Form 10-K filed with the Securities and Exchange Commission on
February 23, 2017 and subsequent reports filed with the Securities
and Exchange Commission. There may be other factors that may cause
our actual results to differ materially from the forward-looking
statements. We assume no obligation to update the information
contained in this announcement except as required by applicable
law.
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