Pinnacle Foods Inc. announced preliminary estimated unaudited selected financial results for the third quarter ended September 30, 2018. Net sales are expected to be in the range of $740 million to $745 million, compared with net sales of $749.8 million in the third quarter of 2017. The approximate 1% decline in sales is primarily due to intensified competition, specifically in the grocery segment, partially offset by ongoing growth in the frozen segment, led by the birds eye franchise, which continued to drive the company’s robust innovation program. Net earnings are expected to be in the range of $67 million to $69 million, or $0.55 to $0.57 per diluted share. Adjusted net earnings are expected to be in the range of $93 million to $95 million or adjusted diluted earnings per share of $0.77 to $0.79. Profitability was driven by strong continued execution of the company’s productivity and cost management programs as well as a favorable tax rate versus the prior year period. GAAP and adjusted earnings also include approximately $0.05 per share related to earlier than expected insurance recoveries from the 2017 Aunt Jemima recall, which had been previously incorporated into the company’s full year guidance. Adjusted EBITDA is expected to be in the range of $177 million to $180 million, reflecting adjusted gross margin expansion, which is inclusive of the aforementioned insurance recoveries and the strong productivity and cost management programs.