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Pinnacle Foods Reports Third Quarter Fiscal 2017 Results

Gross profit in the third quarter of 2017 declined to $219.3 million, or 29.2% of net sales, compared to gross profit of $228.7 million, or 30.1% of net sales, in the prior-year period, including the benefit versus year-ago of items affecting comparability. This performance reflected discrete costs totaling $15 million from the AJ Exit and accelerated manufacturing investments initiated in the second quarter of 2017, as well as a negative hurricane impact of approximately $4 million. Offsetting these factors were the benefits of the strong underlying net sales growth and continued strong productivity.

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