B&G Foods
The 10-second takeaway
For the quarter ended Sep. 29 (Q3), B&G Foods missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share grew significantly.
Margins grew across the board.
Revenue details
B&G Foods logged revenue of $154.2 million. The five analysts polled by S&P Capital IQ predicted a top line of $158.1 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $133.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.35. The six earnings estimates compiled by S&P Capital IQ predicted $0.33 per share. GAAP EPS of $0.35 for Q3 were 40% higher than the prior-year quarter's $0.25 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 35.9%, 470 basis points better than the prior-year quarter. Operating margin was 24.9%, 450 basis points better than the prior-year quarter. Net margin was 11.0%, 190 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $178.5 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $641.8 million. The average EPS estimate is $1.40.
Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on B&G Foods is hold, with an average price target of $28.80.
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