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.
SPONSORED CONTENT
Empowering communities
Rocky Mountain Health Plans (RMHP), part of the UnitedHealthcare family, has pledged its commitment to uplift these communities through substantial investments in organizations addressing the distinct needs of our communities.
Boulder Brands produces products such as Earth Balance, Evol Foods, Glutino, Gardein and Udi’s Gluten Free.
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…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!