PINNACLE FOODS INC. PF Income Statement

Pinnacle foods inc. (PF)

Income statement / Quarterly

Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
Net sales
741,761	778,832	883,506	749,814	744,608	766,074	858,481	758,821	756,381	754,255	722,478	636,287	631,746	665,281	705,333	624,011	617,800	644,039	709,322	572,455	569,044	612,981	705,060	567,905	588,595	616,925
Cost of products sold
530,299	572,402	609,149	530,523	580,681	555,501	590,870	530,117	535,189	555,688	499,653	459,432	462,637	493,564	516,915	460,109	455,583	477,378	511,745	415,052	424,616	458,140	517,685	438,564	456,439	481,248
Gross profit
211,462	206,430	274,357	219,291	163,927	210,573	267,611	228,704	221,192	198,567	222,825	176,855	169,109	171,717	188,418	163,902	162,217	166,661	197,577	157,403	144,428	154,841	187,375	129,341	132,156	135,677
Operating expenses
Marketing and selling expenses
50,617	49,227	37,563	50,492	49,470	55,594	44,447	53,879	61,036	58,898	39,840	44,155	45,698	47,009	43,552	41,722	47,970	44,128	41,700	40,866	47,508	45,628	39,196	38,336	48,204	44,000
Administrative expenses
35,368	34,674	30,281	30,962	33,630	36,011	37,026	36,439	43,703	45,888	25,086	26,467	27,665	27,786	41,701	24,979	24,618	25,977	26,601	25,304	45,327	22,558	23,325	21,349	24,126	20,614
Research and development expenses
4,786	4,764	3,561	3,908	4,580	4,021	4,266	4,564	5,098	4,185	3,104	3,247	3,589	3,052	2,803	3,120	2,876	2,482	2,691	2,709	2,789	2,327	3,820	2,677	3,327	2,207
Tradename impairment charges
0	-	-	39,100	27,430	-	-	11,200	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Termination fee received, net of costs, associated with the Hillshire merger agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	155,073	-	-	-	-	-	-	-	-	-	-
Other expense, net
-17,445	-2,865	-2,596	-775	-5,288	-4,230	-8,562	-4,354	-3,569	-9,315	-21,656	-5,193	2,342	5,401	-27,331	2,524	4,843	3,983	10,108	3,606	37,833	3,657	4,494	7,084	14,510	3,686
Total operating (income) expenses
108,216	91,530	74,001	125,237	120,398	99,856	94,301	110,436	113,406	118,286	74,200	79,062	79,294	83,248	94,778	-82,728	80,307	76,570	81,100	72,485	133,457	74,170	70,835	69,446	90,167	70,507
Operating income
103,246	114,900	200,356	94,054	43,529	110,717	173,310	118,268	107,786	80,281	148,625	97,793	89,815	88,469	93,640	246,630	81,910	90,091	116,477	84,918	10,971	80,671	116,540	59,895	41,989	65,170
Non-operating income
802	801	-	-	491	491	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before interest and taxes
104,048	115,701	-	-	44,020	111,208	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
30,184	41,894	31,224	29,125	28,507	80,731	35,642	36,473	35,488	31,640	22,383	22,315	22,187	21,628	22,404	24,879	24,524	24,367	24,476	19,595	47,627	40,656	43,883	44,462	60,527	49,612
Interest income
16	212	88	37	13	15	14	27	27	77	26	7	12	153	28	35	32	26	73	23	42	3	5	4	43	58
Earnings before income taxes
73,880	74,019	168,238	64,966	15,526	30,492	137,682	81,822	72,325	48,718	126,268	75,485	67,640	66,994	71,264	221,786	57,418	65,750	92,074	65,346	-36,614	40,018	72,662	15,437	-18,495	15,616
Provision (benefit) for income taxes
17,624	17,105	-275,635	18,385	-3,092	7,343	49,538	29,469	26,542	23,881	47,073	27,387	23,961	25,458	35,135	85,829	21,834	25,002	36,367	24,661	-4,775	15,222	29,000	5,559	-7,935	6,077
Net earnings
56,256	56,914	443,873	46,581	18,618	23,149	88,144	52,353	45,783	24,837	79,195	48,098	43,679	41,536	-	-	-	-	-	-	-	-	-	-	-	-
Less: Net (loss) earnings attributable to non-controlling interest
-61	0	0	0	-51	223	0	0	-1	1	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net earnings attributable to Pinnacle Foods, Inc. and subsidiaries common shareholders
56,317	56,914	443,873	46,581	18,669	22,926	88,144	52,353	45,784	24,836	79,195	48,098	43,679	41,536	-	135,957	35,584	40,748	55,707	40,685	-31,839	24,796	43,662	9,878	-10,560	9,539
Net earnings per share attributable to Pinnacle Foods, Inc. and subsidiaries common shareholders:
Basic (in dollars per share)
0.47	0.48	3.75	0.39	0.16	0.20	0.76	0.45	0.39	0.21	0.68	0.41	0.38	0.36	0.32	1.17	0.31	0.35	0.46	0.35	-0.28	0.31	0.66	0.12	-0.13	0.00
Weighted average shares outstanding- basic (in shares)
118,773	118,496	118,497	118,328	118,114	117,623	117,488	117,224	116,657	116,117	116,105	116,084	116,030	115,906	115,780	115,727	115,690	115,592	115,601	115,590	114,909	81,263	-	81,218	82,234	-
Diluted (in dollars per share)
0.47	0.48	3.71	0.39	0.16	0.19	0.75	0.44	0.39	0.21	0.68	0.41	0.37	0.35	0.32	1.16	0.30	0.35	0.46	0.35	-0.28	0.29	0.63	0.11	-0.13	0.00
Weighted average shares outstanding- diluted (in shares)
119,948	119,812	119,579	119,690	119,606	119,331	118,874	118,389	117,765	117,612	117,502	117,470	117,281	117,036	116,949	117,003	116,900	116,686	116,949	116,347	114,909	86,268	-	86,444	82,234	-
Dividends declared (in dollars per share)
0.32	0.32	0.32	0.32	0.28	0.28	0.28	0.28	0.25	0.25	0.25	0.25	0.23	0.23	0.23	0.23	0.21	0.21	0.21	0.18	0.18	0.00	-	0.00	0.00	-