B&G Foods Inc reports results for the quarter ended in June - Earnings Summary

B&G Foods

06/08/2024 23:59

* B&G Foods Inc  BGS.N  reported quarterly adjusted earnings
of 8
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 15
cents.  The mean expectation of seven analysts for the quarter
was for earnings of 9 cents per share. Wall Street expected
results to range from 7 cents to 13 cents per share.
    * Revenue fell 5.3% to $444.59 million from a year ago;
analysts
expected $435.83 million. 
    * B&G Foods Inc's reported EPS for the quarter was 5 cents​.
    * The company reported quarterly net income of $3.94
million.
    * B&G Foods Inc shares had risen by 3.6% this quarter and
lost 20.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 11.1%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 5
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the food
processing
peer group is also "hold"

Wall Street's median 12-month price target for B&G Foods Inc is
$9.00 
This summary was machine generated from LSEG data August 6 at
10:59 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.09           0.08           Missed
 Mar. 31 2024      0.21           0.18           Missed
 Dec. 31 2023      0.29           0.30           Beat
 Sep. 30 2023      0.23           0.27           Beat