B&G Foods Reports Q3 Miss & Weak Guidance
B&G Foods (NYSE:BGS) reported its Q3 results on Wednesday, with EPS of $0.31 coming in worse than the Street estimate of $0.34. Revenue was $528.4 million, missing the Street estimate of $536.57 million.
Price elasticities for some of the company’s largest brands and interaction with Private Label remain a key risk factor for the remainder of the year.
The company provided its fiscal 2022 outlook, expecting EPS in the range of $0.90-$1.00, compared to the Street estimate of $1.06. Full-year revenue is expected in the range of $2.1-2.14 billion, compared to the Street estimate of $2.14 billion.
| Symbol | Price | %chg |
|---|---|---|
| ICBP.JK | 10300 | 0 |
| PANI.JK | 4920 | 0 |
| INDF.JK | 6075 | 0 |
| MYOR.JK | 2350 | 0 |
What to Expect From B&G Food’s Upcoming Q3 Results?
RBC Capital analysts provided their outlook on B&G Foods, Inc (NYSE:BGS) ahead of the upcoming Q3 earnings announcement tomorrow.
The analysts expect net sales growth of 2% (vs, Street’s 3.5%) and EPS of $0.33 (vs. Street’s $0.32). The analysts expect moderate pricing-driven topline growth with continued margin pressure from raw materials, logistics and agricultural commodities.
According to the analysts, in tracked channels total sales are roughly flat in the September quarter and historical spreads would suggest approximate 1% topline growth. Read-throughs from packaged food peers this earnings season have been strong, suggesting continued at-home resiliency. While at-home demand remains strong, the company is still dealing with an underperforming supply chain.
