Investing.com - Snyders-Lance Inc (NASDAQ:LNCE) shares are climbing after the company released its second quarter results, which surpassed analyst expectations.
The snackfood company earned 27 cents per share on revenue of $579.6 million, topping analysts’ earnings estimates by 3 cents and revenue by $13.7 million. Revenue was up 3.3% year-over-year, and revenue from core brands rose 4.7% to $420.5 million during the quarter.
Looking ahead, Snyders-Lance is expecting an operating margin of 14% of sales by 2020 and 4-year EPS CAGR growth of 11% to 13%.
Shares were up 12% at $38.97 during the afternoon session. They are near their 52-week high of $40.85.