B&G Foods Earnings: Here’s Why Investors Like These Results

B&G Foods Inc. (NYSE:BGS) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.27%.

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B&G Foods Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 5.71% to $0.37 in the quarter versus EPS of $0.35 in the year-earlier quarter.

Revenue: Rose 8.81% to $171.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: B&G Foods Inc. reported adjusted EPS income of $0.37 per share. By that measure, the company met the mean analyst estimate of $0.37. It beat the average revenue estimate of $170.31 million.

Quoting Management: David L. Wenner, President and Chief Executive Officer of B&G Foods, stated, “Our business performed very well in the first quarter, growing by 8.8% via a healthy mix of base business volume gains and acquisition growth. The New York Style and Old London acquisition completed in October 2012 performed to expectations in both sales and earnings. Growth in the base business came from our top two tiers of brands, which together contributed a 3.0% net sales gain for the quarter.”

Key Stats (on next page)…

Revenue decreased 1.44% from $173.71 million in the previous quarter. EPS increased 15.63% from $0.32 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.35 to a profit $0.34. For the current year, the average estimate has moved down from a profit of $1.53 to a profit of $1.47 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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