Dive Brief:
- For its Q4 2014 earnings, Snyder's-Lance reported boosts in several categories year over year, but it also missed some analysts' estimates in what the company called a "transformative" year.
- In the year ending January 3, Snyder's-Lance generated nearly $193 million in net earnings, more than doubling its close to $79 million in the same period last year. Sales were also up to around $1.6 billion, an increase over the $1.5 billion the year before.
- However, in other areas, the company did not perform as expected, including $0.30 per adjusted share earnings, missing Zack's estimates of $0.31 per share.
Dive Insight:
Snyder's-Lance was busy this year making moves it hoped would contribute to the rise in sales it reported for 2014. The company sold off its private-label snack business to focus instead on its branded products, which provide 61% of revenue versus private labels' less than 20%. It acquired pretzel-manufacturer Baptista Bakery and increased its stake in non-GMO snack maker Late July Organic Snacks. Most recently, Snyder's Lance created a new healthier snacks division, Clearview Foods, which Late July will be a part of. It will be interesting to see where these company moves take Snyder's-Lance in the new year.