B&G Foods surges on upbeat 2023 profit forecast

B&G Foods

28/02/2023 22:23

** Shares of frozen and canned food maker B&G Foods Inc
 BGS.N  up ~16% at $14.68 in after hours trade
    ** Co projects 2023 profit above analysts' expectations,
benefiting from price increases and the impact of product mix
    ** Sees adjusted diluted earnings per share in the range of
$0.95 to $1.15, compared to analysts' estimate of $1.02
    ** BGS expects 2023 net sales between $2.13 billion and
$2.17 billion; analysts' expect net sales of $2.16 billion, per
Refinitiv
    ** BGS also beats Q4 revenue and profit estimates
    ** Up to Tuesday's close, stock had fallen 57.2% in the past
12 months

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth))