Packaged foods company B&G Foods (NYSE: BGS) will be reporting earnings this Tuesday after market close. Here’s what you need to know.
B&G Foods beat analysts’ revenue expectations last quarter, reporting revenues of $539.6 million, down 2.2% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.
Is B&G Foods a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting B&G Foods’s revenue to decline 6.1% year on year, improving from the 10.5% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. B&G Foods has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at B&G Foods’s peers in the shelf-stable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hershey delivered year-on-year revenue growth of 10.6%, beating analysts’ expectations by 2.4%, and Lamb Weston reported revenues up 2.9%, topping estimates by 5.2%. Hershey traded down 3.6% following the results while Lamb Weston was also down 6.9%.
Read our full analysis of Hershey’s results here and Lamb Weston’s results here.
Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices flat over the last month. B&G Foods’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $5.20 (compared to the current share price of $5.40).
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