(2) Includes accrual for legal fees and contingent liabilities associated with expected settlements related to employee classification and industry wide packaging claims. Company management believes the presentation of 2016 Net Revenue Excluding Diamond Foods is useful for providing increased transparency and assisting investors in understanding our ongoing operating performance. Investors may also access a web-based replay of the conference call at www.snyderslance.com. ... EVP and Chief Supply Chain Officer at CONAGRA BRANDS. Excluding the contribution from Diamond Foods, net revenue in the third quarter of 2016 increased 0.7% compared to the third quarter of 2015. Our ‘Better-For-You’ brands now represent over 33% of our sales and will continue to grow with innovation and focus on better ingredients and great taste. “Our Legacy Snyder’s-Lance brands delivered 2.6% year over year growth, driven by core brand growth of 3.7% led by Snack Factory®, Cape Cod® and Lance®. Cautionary Information about Forward Looking StatementsThis press release contains statements which may be forward looking within the meaning of applicable securities laws. (5) For the third quarter of 2015, other items include severance expense and professional fees. Campell Snacks is flexing its muscles with fresh advertising for key brands ��� Cape Cod, Kettle Chips, Snyder���s of Hanover and Goldfish ��� a year after acquiring Snyder���s Lance for an estimated $1.6bn. Snyder's-Lance, Inc. | Company Profile, Marketing Contacts, Media Spend, Brands Lance, Inc. manufactures and markets snack foods throughout much of the United States and other parts of North America. The merger was announced in July 2010 and completed in December of 2010. 09-Oct-2018 By Douglas Yu. Capital expenditures of $75 million to $80 million. The replay telephone number is (855) 859-2056 for U.S. callers or (404) 537-3406 for international callers. 13-Dec-2018 By Gill Hyslop. The conference ID is 97663353. *Descriptions of measures excluding special items are provided in “Use and Definition of Non-GAAP Measures,” and reconciliations are provided in the tables at the end of this release. The Press Association has reported Campbell Soup is purportedly looking to shed another of its businesses in a bid to help pay down debt. Not only are we guided by our company’s history and values, it is our mission to support the community, protect the environment, and make our great products even better. Jay W. Erskin, MBA. Only a handful of women lead with world���s largest companies. 110,000,000 shares authorized; 96,112,842 and 70,968,054 shares outstanding, respectively, Preferred stock, $1.00 par value. Operating income in the third quarter of 2016 increased 93.6% to $47.9 million, as compared to $24.8 million in the third quarter of 2015. Other income, net, increased $3.6 million in the third quarter of 2016 compared to the third quarter of 2015. Sign up to our free newsletter and get the latest news sent direct to your inbox, A new clean label ingredient for healthy baking, Ensuring Proper Allergen Management in Your Wholesale Bakery, SCORPION짰 2 Digital Humidity Sensor: New patented digital technology measures humidity in all your baking processes, Exploring Innovation for Sweet Baked Products, Sign up to our free newsletter and get the latest news sent direct to your inbox, Processing Equipment & Systems, Automation, Control, Packaging & Packing Materials, Containers, Campbell Snacks chief returns to his roots, Campbell to shed European chips arm in estimated $80m deal, Roasty, fatty and sweaty: Study determines aroma profile of freshly baked soft pretzels, Private label pretzel maker adds industry vets and factory space, Snyder���s alum drives newly-formed Benestar���s debut in BFY snack space with Evans acquisition, Lance Crackers partners with Little League for game-break snacking, Campbell eyes sale of Kettle Chips to tackle debt, Snyder���s Lance ad campaign touches nostalgia, whimsy and transparency, Ferrero ���close��� to finalizing deal to acquire Campbell���s international biscuits and snacks segment, Campbell���s Q1 results bolstered by strong snacks sales, SNAC launches Women in Snacks network to embrace diversity and inclusion, In the news: The latest on PepsiCo, Nestl챕, Kellogg, Campbell Soup, Mondel��z and Grupo Bimbo, 2018's hottest sweets and snacks in US convenience stores: Kellogg, Hershey, Mars, Conagra, Jack Links, and more, Cape Cod Potato Chips lays off workers in site upgrade, Kraft Heinz reports higher-than-expected Q2 sales, but can���t expunge Campbell Soup speculation, News & Analysis on the Bakery and Snacks Industries. Snyder's-Lance, Inc. Apr 2017 – Apr 2018 1 year 1 month. Snyder’s-Lance currently has 175 packaging lines throughout the company’s chip, pretzel and bakery plants, according to Kirk Jensen, chief supply chain officer, and few are automated. Snyder's - Lance is the company formed from the merger of Lance, Inc and Snyder's of Hanover in July 2010. CEO.CA members discuss high-risk penny stocks which can lose their entire value. Carlos Abrams-Rivera is rejoining the FMCG giant that launched his career in the F&B arena more than two decades ago, this time as the new president for Kraft Heinz��� US division. Italian news daily Il Sole 24 Ore broke the news that the Nutella maker is in talks with Campbell Soup Company to buy Campbell���s international business, which includes Arnott���s biscuits and Danish butter cookie maker Kelsen. Campbell's soup brands — … The company produces single-serve, multi-pack, and family-sized packages of bakery products and sweet and savory snack foods, including cookies, crackers, nuts, potato chips, and pretzels. The gross margin improvement was partially offset by the planned higher marketing, advertising and trade expenses to support growth of the Company’s core brands. Products are sold under the Lance, Cape Cod and Tom s brand names along with a number of private labels and third party brands. Weighted average basic shares outstanding, Weighted average diluted shares outstanding, Accounts receivable, net of allowances of $1,110 and $917, respectively, Prepaid income taxes and income taxes receivable, Prepaid expenses and other current assets, Accrued marketing, selling and promotional costs, Common stock, $0.83 1/3 par value. Snyder's-Lance, Inc. is the second largest salty snack maker in the United States. Charlotte, North Carolina. As of 2018, Snyder's-Lance is owned by Campbell's. Free newsletter The NACS Show 2018 has released the hottest confectionery and snack products across US c-stores in Las Vegas. Conference CallManagement will host a conference call to discuss third quarter 2016 results at 9:00 a.m. The increase was primarily due to income of $3.8 million associated with the settlement of a business interruption claim. Additionally, operating income, excluding special items, provides transparent and useful information to management, investors, analysts and other parties in evaluating and assessing the Company’s primary operating results after removing the impact of unusual, non-operational or restructuring or transaction related activities that affect comparability. Adding Snyder's-Lance's snack brands will bring that proportion up to roughly 46 percent of Campbell's annual net sales. (3) For the third quarter of 2016, other items primarily consist of Metcalfe's transaction-related expenses including transaction costs and severance benefits, as well as an inventory step-up of $0.2 million. Opportunities to make an impact. Snyder's-Lance has manufacturing facilities in North Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Massachusetts, Texas, Florida, Ohio and Ontario, Canada. 19-Mar-2019 By Kristine Sherred. Snyder’s-Lance has leading market positions in its core categories About Snyder's-Lance, Inc. At Snyder’s-Lance we appreciate the importance of corporate social responsibility (CSR). alternative snacks mergers and … Forgotten Password. The Company’s fiscal 2016 outlook excludes special items and charges associated with the acquisition of Diamond Foods. @nasdaq/snyders-lance-inc-reports-results-for-third-quarter, Snyder’s-Lance, Inc. Reports Results for Third Quarter of Fiscal 2016, @nasdaq/snyders-lance-inc-reports-results-for-third-quarter, Snyder’s-Lance, Inc. Receives Shareholder Approval for Proposed Acquisition by Campbell Soup Company, Snyder’s-Lance, Inc. Reports Fourth Quarter and Full-Year 2017 Results, Snyder’s Lance Announces Voluntary Recall of a Limited Amount of Emerald® Glazed Walnuts Due to Potential Presence of Undeclared Peanuts, Almonds, Cashews and Pecans, Snyder’s-Lance to Report Fourth Quarter and Full-Year 2017 Financial Results on February 28, 2018, Operating Income, Excluding Special Items, Net Income, Earnings per Share and Effective Income Tax Rate, Excluding Special Items. On September 6, 2012, Snyder's-Lance agreed to acquire Snack Factory for $312 million. Reviews (706) 323-2721 Website. © Copyright - Snyder's-Lance Inc. Use of this site indicates acceptance of the. This year, it will add an onsite campaign during the championship series in August. Products are distributed nationally through grocery and mass merchandisers, convenience stores, club stores, food service outlets and other channels. The increase in Branded net revenue was partially offset as Partner brand net revenue declined 2.1% and Other net revenue declined 7.5%. The Company believes this measure is useful to investors because it increases transparency and assists investors in understanding the underlying performance of the Company and in the analysis of ongoing operating trends. Shortly after releasing its 2019 fiscal year earnings, the soup and snack company said it would sell UK-based Kettle Foods and Netherlands-based Yellow Chips to a private equity firm. The Snyder���s-Lance brand has teamed up with the youth baseball organization for the past seven years. Factors that could cause actual results to differ include general economic conditions or an economic turndown; volatility in the price, quality or availability of inputs, including walnuts and other raw materials, packaging, energy and labor; price competition and industry consolidation; changes in our top retail customer relationships; inability to maintain profitability in the face of a consolidating retail environment; failure to successfully integrate acquisitions or execute divestitures; loss of key personnel; failure to execute and accomplish our strategy; concerns with the safety and quality of certain food products or ingredients; adulterated, misbranded or mislabeled products or product recalls; disruption of our supply chain; failure to maintain satisfactory labor relations; risks related to our foreign operations, including foreign currency risks; inadequacies in, or security breaches of, our information technology systems; improper use of social media; changes in consumer preferences and tastes or inability to innovate or market our products effectively; reliance on distribution through a significant number of independent business owners; protection of our trademarks and other intellectual property rights; impairment in the carrying value of goodwill or other intangible assets; new regulations or legislation; interest rate volatility, political and economic conditions of the countries in which we conduct business, and the interests of a few individuals who control a significant portion of our outstanding shares of common stock may conflict with those of other stockholders, which have been discussed in greater detail in our most recent Form 10-K and other reports filed with the Securities and Exchange Commission. As of 2018, it is a subsidiary of the Campbell Soup Company. 07-Aug-2019 By Gill Hyslop. Our management believes these non-GAAP measures are useful for providing increased transparency and assisting investors in understanding our ongoing operating performance. The non-GAAP measures and related comparisons should be considered in addition to, not as a substitute for, our GAAP disclosure, as well as other measures of financial performance reported in accordance with GAAP, and may not be comparable to similarly titled measures used by other companies. More than a quarter of the workers at the Cape Cod Potato Chips facility in Hyannis, Massachusetts, have been laid off following a decision to upgrade old equipment at the site. We remain focused on driving growth of our core brands, delivering  synergy targets and maximizing the benefits of the strategic combination with Diamond that has positioned us as a leading provider of premium and differentiated snacks centered on nutrition, quality and variety. Read employee reviews and ratings on Glassdoor to decide if Snyder's-Lance is right for you. Net revenue of $2,290 million to $2,310 million; Excluding the contribution from Diamond Foods net revenue growth is expected to be approximately flat to up 1.5%; Net revenue contribution from Diamond Foods for the 10 months beginning February 29, 2016, of approximately $630 million to $640 million, net of the impact of intercompany eliminations and reflecting the negative impact of net price realization from lower walnut costs and unfavorable foreign currency; Adjusted EBITDA of $310 million to $320 million; and. Snyder's-Lance was acquired by Shearer's Foods in July I want to thank all of our associates for their early integration success, solid growth on core brands and new distribution gains.”. Management uses adjusted EBITDA as a key metric in the evaluation of underlying Company performance, in making financial, operating and planning decisions. Products are sold under the Snyder's of Hanover, Lance, Cape Cod, Pretzel Crisps, Krunchers!, Tom's, Archway, Jays, Stella D'oro, Eatsmart, O-Ke-Doke, Quitos brand names along with other brand names and third party brands. Total net revenue in the third quarter of 2016 increased 41.3% including the contribution of Diamond Foods. The company s products are distributed through a direct-store-delivery system of approximately 1,800 sales routes, a network of independent distributors and direct shipments to customer locations. A 77% rise in sales across Campbell���s Global Biscuits and Snacks unit lead to the embattled company posting a 25% increase in revenue for its first-quarter. Adjusted EBITDA Snyder’s-Lance defines adjusted EBITDA as earnings before interest expense, income taxes, depreciation and amortization (“EBITDA”), further adjusted to exclude restructuring or transaction related expenses, and other non-cash or non-operating items as well as any other unusual items that impact the comparability of our financial information. Our full-year performance is tracking in line with our expected ranges, and we continue to anticipate strong sales in the fourth quarter primarily due to the seasonal nature of Diamond of California® culinary nuts and other holiday product offerings. The replay access code is 97663353. A continuous telephone replay of the call will be available between 12:00 p.m. on November 7 and midnight on November 14. While the average employee salary at Snyder's-Lance is $45,343, there is a big variation in pay depending on the role. Kraft Heinz reported second quarter earnings that topped Wall Street���s forecasts amid persistent rumors of a Campbell Soup acquisition. Members of (3) Includes accrual for legal fees and contingent liabilities associated with expected settlements related to employee classification and industry wide packaging claims. LNCE-E. Use and Definition of Non-GAAP Measures Snyder’s-Lance’s management uses non-GAAP financial measures to evaluate our operating performance and to facilitate a comparison of the Company’s operating performance on a consistent basis and to provide measures that, when viewed in combination with its results prepared in accordance with GAAP, allow for a more complete understanding of factors and trends affecting the Company’s business than GAAP measures alone. Free newsletter Menu & Reservations Make Reservations . The higher paying positions at Snyder's-Lance include business operations associate, quality assurance analyst, team leader, and maintenance planner. Adjusted EBITDA is a non-GAAP measure defined herein under “Use and Definition of Non-GAAP Measures,” and is reconciled to net income in the tables that accompany this release. The Company has historically reported adjusted EBITDA to analysts and investors and believes that its continued inclusion provides consistency in financial reporting and enables analysts and investors to perform meaningful comparisons of past, present and future operating results. Snyder’s Lance belongs to the Consumer Defensive business sector. It was formed by the 2010 merger of Lance and Snyder's of Hanover. To participate in the conference call, the dial-in number is (844) 830-1960 for U.S. callers or (315) 625-6883 for international callers. We expect a more significant impact from our planned income tax restructuring in Q4 2016. The information on this Website is not reliable and not intended to provide tax, legal, or investment advice. The conference call will be webcast live through the Investor Relations section of Snyder's-Lance's website (www.snyderslance.com) where the accompanying slide presentation will also be available. Snyder's-Lance Inc 900 8th St Columbus GA 31901. FMCG giants join global pledge to fight plastic pollution; Campbell in fight to avoid split; Mondel��z set to up prices of biscuits in the US; and Grupo Bimbo���s CEO wins CSR award. Products are sold under the Snyder's of Hanover®, Lance®, Kettle Brand®, KETTLE® Chips, Cape Cod®, Snack Factory® Pretzel Crisps®, Pop Secret®, Emerald®, Diamond of California®, Late July®, Krunchers!®, Tom's®, Archway®, Jays®, Stella D'oro®, Eatsmart Snacks™, O-Ke-Doke®, and other brand names along with a number of third party brands. Snyder's-Lance's products include pretzels, sandwich crackers, pretzel crackers, potato chips, cookies, tortilla chips, restaurant style crackers, popcorn, nuts and other snacks. Net income, earnings per share, and the effective income tax rate, excluding special items, provide transparent and useful information to management, investors, analysts and other parties in evaluating and assessing our primary operating results after removing the impact of unusual, non-operational or restructuring or transaction related activities that affect comparability. Despite incremental investments in advertising and consumer promotions, productivity and sales … Lance is an American brand of snack foods owned by the Snyder's-Lance company headquartered in Charlotte, North Carolina. Order Online Tickets ... Iowa, Massachusetts and Ontario. (2) Discrete tax item for the impact of tax restructuring. S-L offers a wide variety of both Snyder’s-Lance, Inc. branded products as well as partner brand products to IBOs to provide a greater mix and opportunity for profit in each IBOs territory. Each Diamond Foods brand brings unique strengths that fit with Snyder’s-Lance’s strategic plan while increasing the company’s annualized net revenue to approximately $2.6 billion. Snyder's-Lance, Inc. Signs Definitive Agreement to Acquire Diamond Foods, Inc. Subscribe The improvement in operating margin was due to strong gross margin performance driven by manufacturing efficiencies and procurement savings as a result of the Company’s margin expansion initiatives and early synergy realization from the Diamond Foods combination. Great brands and in the right space of "better for you snacking". (1) The tax rate on adjusted income varies from the tax rate on GAAP income for the third quarter of 2016 primarily due to the effective tax rate impact of non-deductible transaction costs related to the acquisition of Diamond and Metcalfe's. The Partner Brand segment of Snyder’s-Lance had a less successful quarter. Only risk what you can afford to lose. If you're familiar with the munchies named Toastchee, Nip Chee, and Captain's Wafers, Snyder's-Lance (formerly Lance) has undoubtedly helped you satisfy a snack attack. 277 Snyder's-Lance reviews. Net income, earnings per share, and the effective income tax rate, excluding special items, are measures management uses for planning and budgeting, monitoring and evaluating financial and operating results. Net interest expense of $32.5 million to $33.5 million; Effective tax rate of 33.5% to 34.0%; and. All financial comparisons to the prior year are compared against the legacy Snyder’s-Lance results, where the prior year does not include any contribution from Diamond Foods. About Snyder’s-Lance, Inc.Snyder's-Lance, Inc., headquartered in Charlotte, NC, manufactures and markets snack foods throughout the United States and internationally. Welcome to our Direct Sales. 04-Sep-2019 By Kristine Sherred. Net revenue in the third quarter of 2016, excluding the contribution of the acquired Diamond Foods brands, included Branded category growth of 2.6% driven by an approximately 6% increase in volume. Net Income, Earnings per Share and Effective Income Tax Rate, Excluding Special ItemsNet income, earnings per share, and the effective income tax rate, excluding special items, are metrics provided to present the reader with the after-tax impact of operating income, excluding special items, in order to improve the comparability and understanding of the related GAAP measures. 27-Jun-2019 By Kristine Sherred. Adjusted EBITDA should not be considered as an alternative to net income, determined in accordance with Generally Accepted Accounting Principles (“GAAP”), as an indicator of the Company’s operating performance, as an indicator of cash flows, or as a measure of liquidity. The effective tax rate for the third quarter of 2016 was favorably impacted by a reduction in the United Kingdom’s statutory income tax rate. Revenue of $75,401,000, was down 4.5% from $78,958,000 in the previous year’s second quarter. Nothing contained on the Website shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. Hunger-Busting Power. Amazon.com: Snyder's-Lance Variety Packs Classic Snack Pack with Pretzel Crisps, Cape Cod, Kettle Brand Potato Chips & Late July Tortilla Chips, 16 Count Consider these available items Kettle Brand Potato Chips Variety Pack, Sea Salt & Vinegar, Krinkle Salt & Pepper, Backyard BBQ and Jalapeno, 30 Count 4.5 out of 5 stars 1,313 $16.98$16.98 Despite incremental investments in advertising and consumer promotions, productivity and sales growth delivered the margin expansion we expected. For more information, visit the Company's corporate website: www.snyderslance.com. Adjusted EBITDA in the third quarter of 2016 increased 73.2% to $81.8 million, or 13.9% of revenue, as compared to adjusted EBITDA of $47.2 million, or 11.3% of revenue, in the third quarter of 2015. History. Fortune 500 lists 20 in the position of CEO ��� actually, now 18 following the departure of PepsiCo���s Indra Nooyi and Campbell Soup���s Denise Morrison ��� down from 32 in 2017. Excluding special items, operating income in the third quarter of 2016 increased 82.8% to $53.6 million, or 9.1% of net revenue, as compared to $29.3 million, or 7.0% percent of net revenue, in the third quarter of 2015. Philip Lance and Salem Van Every, Lance's son-in-law, started selling single serve snacks in 1913. 21-Nov-2018 By Gill Hyslop. The statements include projections regarding future revenues, earnings and other results which are based upon the Company’s current expectations and assumptions, which are subject to a number of risks and uncertainties. The transaction expands Snyder’s-Lance’s footprint in “better-for-you” snacking and increases the Company’s existing natural food channel presence. US pork rind snack producer Evans Food Group has been acquired by Highlander Partners through its newly-formed food platform Benestar Brands, which is to be headed by Carl E. Lee, former CEO of Snyder���s-Lance. Net interest expense in the third quarter of 2016 increased to $9.2 million as compared to $2.9 million in the third quarter of 2015. (1) Transaction and integration related expenses primarily consist of professional fees, severance, and retention costs associated with the acquisition of Diamond. Transaction and integration related expenses, Loss/(gain) on sale of route businesses, net, Net (loss)/income attributable to noncontrolling interests. Subscribe, 10-Jan-2020 By Gill Hyslop. “Growth of our core brands accelerated during the third quarter, and when combined with our cost savings initiatives, operating margin improved 210 basis points reaching 9.1% for the quarter,” said Carl E. Lee, Jr., President and Chief Executive Officer. Snyder's-Lance Salaries By Job Title. 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