The 10-second takeaway
For the quarter ended Dec. 29 (Q4), B&G Foods missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped significantly.
Gross margins expanded, operating margins shrank, net margins shrank.
B&G Foods reported revenue of $173.7 million. The four analysts polled by S&P Capital IQ expected revenue of $180.6 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $150.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.32. The five earnings estimates compiled by S&P Capital IQ anticipated $0.39 per share. GAAP EPS of $0.18 for Q4 were 31% lower than the prior-year quarter's $0.26 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 34.2%, 130 basis points better than the prior-year quarter. Operating margin was 21.5%, 10 basis points worse than the prior-year quarter. Net margin was 5.5%, 270 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $173.8 million. On the bottom line, the average EPS estimate is $0.38.
Next year's average estimate for revenue is $701.5 million. The average EPS estimate is $1.53.
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 $30.20.
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