Pinnacle Foods sees second-quarter growth in part due to Boulder Brands

BOULDER — Pinnacle Foods Inc. (NYSE: PF), the parent company to Boulder Brands, posted second-quarter earnings of 47 cents per share, a significant increase over the 16 cents per share the company posted during the same period last year.

The company’s Boulder segment saw net sales increase by 4.5 percent in the second quarter year-over-year. Boulder saw sales grow from $94.7 million in 2017 to $98.9 million in 2018. The company says net sales were driven by the strength of its Gardein and Earth Balance businesses. However, that growth was offset by lower net sales of its gluten-free portfolio. Retail consumption of the Boulder segment grew by 7.2 percent. The Boulder segment’s earnings before interest and taxes grew from $12.2 million in the second quarter of 2017 to $16 million during the same period in 2018.

In June, it was announced that Conagra would acquire Pinnacle for $10.9 billion.

Boulder Brands produces products such as Earth Balance, Evol Foods, Glutino, Gardein and Udi’s Gluten Free.