🔹 Revenue: $3.18B (Est. $3.11B) 🟢; UP +6.5% YoY
🔹 Adj. EPS: $1.30 (Est. $1.06) 🟢; DOWN -44% YoY
Guidance (FY25)
🔹 Net Sales Growth: ~3% (Prior: up at least 2%)
🔹 Reported EPS: DOWN ~48%–50%
🔹 Adj. EPS: DOWN ~36%–37%
🔹 Tariff expense: ~$160M–$170M | Tax rate: ~30% reported / ~26% adjusted
🔹 Interest expense: ~$195M | Capex: ~$425M | Agility & Automation savings: ~$150M
Segment
🔹 North America Confectionery: Sales $2.62B; UP +5.6% YoY (Price +7 pts, Volume -1 pt)
🔹 North America Salty Snacks: Sales $321M; UP +10% YoY (Volume +11 pts)
🔹 International: Sales $245M; UP +12.1% YoY; Segment margin (5.6%)
Other Metrics
🔹 Reported Gross Margin: 32.6% (vs. 41.3% LY); DOWN -870 bps
🔹 Adj. Gross Margin: 31.8% (vs. 40.3% LY); DOWN -850 bps
🔹 Reported Op. Margin: 13.7% (DOWN -680 bps) | Adjusted: 13.3% (DOWN -860 bps)
CEO Commentary
🔸 “Third quarter results surpassed expectations… we are raising our full-year outlook for net sales and EPS.” — CEO Kirk Tanner