Pinnacle Foods Inc. shares fell 2.5% in Thursday premarket trading after it reported fourth-quarter sales that missed expectations. Net income totaled $443.9 million, or $3.71 per share, up from $88.1 million, or 74 cents per share, for the same period last year. Excluding items including a one-time benefit from the tax overhaul, adjusted EPS was 94 cents. Sales were $883.5 million, up from $858.5 million. The FactSet consensus was for EPS of 94 cents and sales of $897.0. Pinnacle Foods brands include Hungry-Man, Udi’s Gluten Free, Birds Eye and Duncan Hines. Pinnacle Foods expects adjusted EPS in the range of $2.85 to $2.95. The FactSet consensus is for EPS of 2.84. Pinnacle Foods shares are down 6.5% for the past year while the S&P 500 index is up 13.3% for the period.
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