B&G Foods (BGS) Tops Q1 EPS by 4c, Beat on Revenue; Positive FY17 Revenue Guidance

B&G Foods (NYSE: BGS) reported Q1 EPS of $0.58, $0.04 better than the analyst estimate of $0.54. Revenue for the quarter came in at $417.9 million versus the consensus estimate of $411.33 million.

GUIDANCE:

B&G Foods sees FY2017 EPS of $2.13-$2.27, versus the consensus of $2.19. B&G Foods sees FY2017 revenue of $1.64-1.68 billion, versus the consensus of $1.64 billion.

Highlights (vs. year-ago quarter where applicable):

• Net sales increased 18.4% to $417.9 million
• Net income decreased 1.3% to $32.8 million
• Adjusted net income* decreased $0.1 million to $38.5 million
• Diluted earnings per share decreased 12.5% to $0.49 (primarily due to a greater number of shares outstanding as a result of equity offerings in March 2016 and August 2016)
• Adjusted diluted earnings per share* decreased 10.8% to $0.58 (primarily due to a greater number of shares outstanding as a result of equity offerings in March 2016 and August 2016)
• Adjusted EBITDA* increased 2.7% to $92.0 million
• Guidance for full year fiscal 2017 reaffirmed:
• Net sales reaffirmed at a range of $1.64 billion to $1.68 billion
• Adjusted EBITDA reaffirmed at a range of $360.0 million to $375.0 million
• Adjusted diluted earnings per share reaffirmed at a range of $2.13 to $2.27

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

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