Stock Story -
Packaged foods company B&G Foods (NYSE:BGS) will be announcing earnings results tomorrow after market close. Here's what to look for.
B&G Foods missed analysts' revenue expectations by 1.4% last quarter, reporting revenues of $475.2 million, down 7.1% year on year. It was a weaker quarter for the company, with a miss of analysts' earnings estimates and underwhelming earnings guidance for the full year.
Is B&G Foods a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting B&G Foods's revenue to decline 7.2% year on year to $435.9 million, a further deceleration from the 1.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.
Analysts covering the company have generally 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 five times over the last two years.
Looking at B&G Foods's peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Kellanova's revenues decreased 4.7% year on year, beating analysts' expectations by 1.5%, and Post (NYSE:POST) reported revenues up 4.7%, falling short of estimates by 3.4%. Kellanova traded up 8.3% following the results while Post was also up 3.1%.
Read the full analysis of Kellanova's and Post's results on StockStory.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 4% on average over the last month. B&G Foods is up 10.5% during the same time and is heading into earnings with an average analyst price target of $8.9 (compared to the current share price of $8.64).
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