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Snyder's-Lance Inc. (LNCE) Is Tumbling After Guidance Cut

Snyder's-Lance Inc. (LNCE) announced Monday morning that it expects to report first quarter adjusted EPS of $0.13 to $0.14. Analysts are expecting EPS of $0.27. The company now expects to report full year 2017 EPS between $1.05 and $1.20, down from prior expectations of $1.32 to $1.42.

The company also announced that its President and CEO, Carl E. Lee, Jr., has retired. Brian Driscoll has agreed to step in as interim CEO.

Snyder's-Lance gapped open sharply lower this morning and is now down 7.93 at $31.99 with volume at nearly a 10-month high. The stock has tumbled to over a 9-month low.

by RTT Staff Writer

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