B&G Foods: Q1 Earnings Snapshot
Posted May 11, 2021 05:52:42 PM.
Last Updated May 11, 2021 05:55:21 PM.
This article is more than 5 years old.
PARSIPPANY, N.J. (AP) _ B&G Foods Inc. (BGS) on Tuesday reported first-quarter profit of $26.9 million.
The Parsippany, New Jersey-based company said it had profit of 41 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 52 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The food producer posted revenue of $505.1 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $517.7 million.
B&G Foods expects full-year revenue in the range of $2.05 billion to $2.1 billion.
B&G Foods shares have risen 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.63, an increase of 33% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BGS at https://www.zacks.com/ap/BGS
The Associated Press
