B&G Foods' Earnings Beat Last Year's by 30%
B&G Foods (NYS: BGS) reported earnings on April 19. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), B&G Foods met expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share improved significantly.
Margins expanded across the board.
B&G Foods notched revenue of $157.3 million. The five analysts polled by S&P Capital IQ expected net sales of $159.3 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $131.4 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 $0.35. The six earnings estimates compiled by S&P Capital IQ anticipated $0.34 per share. GAAP EPS of $0.35 for Q1 were 30% higher than the prior-year quarter's $0.27 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 36.1%, 200 basis points better than the prior-year quarter. Operating margin was 24.3%, 220 basis points better than the prior-year quarter. Net margin was 10.7%, 60 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $156.0 million. On the bottom line, the average EPS estimate is $0.31.
Next year's average estimate for revenue is $647.7 million. The average EPS estimate is $1.33.
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 $22.60.
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At the time this article was published 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 ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. 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.
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