B&G Foods (BGS) Tops Q1 EPS by 3c

B&G Foods (NYSE: BGS) reported Q1 EPS of $0.46, $0.03 better than the analyst estimate of $0.43. Revenue for the quarter came in at $449.4 million versus the consensus estimate of $434.83 million.

Guidance:

Although B&G Foods’ management believes that B&G Foods’ net sales and adjusted EBITDA for full year fiscal 2020 will materially exceed the full year fiscal 2020 net sales and adjusted EBITDA guidance provided by management when the Company reported fiscal 2019 results in February 2020, the Company’s management is unable to fully estimate the impact the COVID-19 pandemic will have on the Company’s second quarter, third quarter and full year fiscal 2020 results and therefore is unable at this time to provide guidance for the remainder of 2020. The ultimate impact of the COVID-19 pandemic on the Company’s business will depend on many factors, including, among others, the duration of social distancing and stay-at-home mandates and whether a second or third wave of COVID-19 will affect the United States and the rest of North America, the Company’s ability to continue to operate its manufacturing facilities and maintain its supply chain without material disruption, and the extent to which macroeconomic conditions resulting from the pandemic and the pace of the subsequent recovery may impact consumer eating habits.

2 For fiscal 2019, the Company’s net sales to foodservice customers represented approximately 13% of the Company’s overall net sales.

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

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