=Amplify Snack Brands (BETR) reported earnings on Tue 7 Nov 2017 (a/h)

Amplify Snack Brands misses by $0.02, misses on revs; lowers FY17 EPS, revs guidance 

• Reports Q3 (Sep) earnings of $0.07 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus of $0.09; revenues rose 39.5% year/year to $94.86 mln vs the $97.7 mln Capital IQ Consensus.
• Gross profit was $35.9 million for the 13 weeks ended September 30, 2017, or 37.9% of net sales, compared to $32.3 million, or 47.6% of net sales for the three months ended September 30, 2016. The decrease in gross margin percentage for the 13 weeks ended September 30, 2017 was primarily due to the acquisition of Tyrrells, increased promotional activity and to a lesser extent increased net sales mix from the Oatmega and Paqui brands and new SkinnyPop innovation, all of which have lower gross margin profiles than the SkinnyPop ready-to-eat products.
• Co lowers guidance for FY17, sees EPS of $0.25-0.27 (Prior $0.35-0.43), excluding non-recurring items, vs. $0.33 Capital IQ Consensus Estimate; sees FY17 revs of $375-379 mln (Prior $385-400 mln) vs. $386.97 mln Capital IQ Consensus Estimate.