The 10-second takeaway
For the quarter ended June 29 (Q2), B&G Foods met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share didn't change. GAAP earnings per share contracted to a loss.
Margins dropped across the board.
B&G Foods reported revenue of $160.9 million. The one analyst polled by S&P Capital IQ looked for a top line of $162.3 million on the same basis. GAAP reported sales were 8.3% higher than the prior-year quarter's $148.6 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 $0.33. The two earnings estimates compiled by S&P Capital IQ predicted $0.35 per share. Non-GAAP EPS of $0.33 were the same as the prior-year quarter. GAAP EPS were -$0.03 for Q2 versus $0.33 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 34.6%, 20 basis points worse than the prior-year quarter. Operating margin was 22.5%, 110 basis points worse than the prior-year quarter. Net margin was -0.9%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $183.3 million. On the bottom line, the average EPS estimate is $0.41.
Next year's average estimate for revenue is $722.7 million. The average EPS estimate is $1.56.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on B&G Foods is outperform, with an average price target of $34.50.
Can your portfolio provide you with enough income to last through retirement? You'll need more than B&G Foods. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add B&G Foods to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.