B&G Foods Holdings (BGS) said after close Thursday that it earned $0.07 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $479 million, missing estimates by $3.3 million.
In the same quarter a year ago, the company earned $0.41 per share on revenue of $464.4 million.
The stock is down 8.65% to $23.14 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
Wall Street Analysts had an average rating of Hold on the stock prior to the report.
Trading in the five days leading up to the report earned B&G Foods Holdings a Bearish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 49. Meanwhile, the average Wall Street analyst rated the stock a Hold.
B&G Foods Inc is an American packaged-food manufacturer. The company sells its products in United States, Canada, and Puerto Rico. The company's main brands are: Ac'cent, B&G, B&M, Baker's Joy, Bear Creek Country Kitchens, Cary's, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril's, Grandma's Molasses, MacDonald's, Mama Mary's, Maple Grove Farms, Regina, Sa-son, Sclafani, Smart Puffs, Spice Islands, Spring Tree, and Wright's. The company distributes its products through multiple channels to supermarkets, wholesalers, mass merchants, warehouse clubs, and foodservice distributors, among others.
News Home
B&G Foods Holdings Down 8.65% To $23.14 After Earnings Miss
Mentioned in this article
