B&G Foods (BGS) Tops Q1 EPS by 14c; Guides FY EPS Above the Street

B&G Foods (NYSE: BGS) reported Q1 EPS of $0.65, $0.14 better than the analyst estimate of $0.51. Revenue for the quarter came in at $353 million versus the consensus estimate of $356.79 million.

GUIDANCE:

B&G Foods sees FY2016 EPS of $2.05-$2.15, versus the consensus of $1.95.

“The first quarter was extremely positive on many levels, particularly with respect to B&G Foods’ profitability, and as a result we have increased our 2016 guidance for net sales, adjusted EBITDA and adjusted diluted earnings per share. To date, our acquisition of Green Giant is turning out to be even more profitable than initially anticipated, a major driver of our favorable results in the first quarter. The Green Giant transition is well under way and on schedule and the Green Giantinnovation pipeline is growing. We are more excited than ever about bringing Green Giant back to prominence and I believe we have the plan and the team to make that happen,” said Robert C. Cantwell, President and Chief Executive Officer of B&G Foods.

For earnings history and earnings-related data on B&G Foods (BGS) click here.

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