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B&G Foods (BGS) Queued for Q3 Earnings: Things to Note
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B&G Foods, Inc. (BGS - Free Report) will likely register top-and bottom-line decline when it reports third-quarter fiscal 2023 on Nov 8. The Zacks Consensus Estimate for revenues is pegged at $504 million, suggesting a drop of 4.6% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has remained unchanged in the past 30 days at 23 cents per share. The projection suggests a decline of 25.8% from the figure reported in the prior-year period.
The company, which manufactures, sells and distributes a portfolio of shelf-stable and frozen foods and household products, has a trailing four-quarter earnings surprise of 36.1%, on average. BGS posted an earnings surprise of 66.7% in the last reported quarter.
B&G Foods is grappling with higher selling, general and administrative (SG&A) expenses, which has been putting pressure on its profits. We expect the metric to increase 1.3% to $ $48.1 million in the third quarter of fiscal 2023. Management continues to see inflation across most of its portfolio, although the pace of inflation has slowed.
The company has been struggling with lower volume, hurting its sales performance. Our model suggests a volume decline of 4% in the to-be-reported quarter. In addition, the company’s international presence keeps it exposed to unfavorable currency rates.
Nevertheless, efficient pricing has been offering some respite. B&G Foods’ focus on reshaping its portfolio, evident from its emphasis on making prudent acquisitions and strategic divestitures, bodes well.
What the Zacks Model Unveils
Our proven model does not predict an earnings beat for B&G Foods this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
B&G Foods currently carries a Zacks Rank #5 (Strong Sell) and has an Earnings ESP of -3.30%.
Some Stocks With a Favorable Combination
Here are some companies you may want to consider, as our model shows that these, too, have the right combination of elements to deliver an earnings beat.
Ollie's Bargain Outlet Holdings, Inc. (OLLI - Free Report) has an Earnings ESP of +3.75% and a Zacks Rank #2. The company is slated to witness top and bottom-line growth when it reports third-quarter fiscal 2023 results. The Zacks Consensus Estimate for OLLI’s earnings has remained unchanged in the past 30 days at 43 cents, suggesting growth of 16.2% from the year-ago quarter’s reported figure. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Ollie's Bargain’s quarterly revenues is pegged at about $468.8 million, which suggests a growth of 12.1% from the figure reported in the prior-year quarter. OLLI delivered an earnings surprise of 1.3%, on average, in the trailing four quarters.
International Flavors & Fragrances (IFF - Free Report) has an Earnings ESP of +7.43% and a Zacks Rank #3. The company is slated to witness a top-line decline when it reports third-quarter 2023 results. The Zacks Consensus Estimate for IFF’s quarterly revenues is pegged at around $2.8 billion, which suggests a decrease of 9.7% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for International Flavors & Fragrances’ quarterly earnings has moved down by 9.5% over the past 30 days to 76 cents per share, which suggests a decline of 44.1% from the year-ago quarter’s reported number. IFF reported a negative earnings surprise of 4.1%, on average, in the trailing four quarters.
J. M. Smucker (SJM - Free Report) has an Earnings ESP of +0.27% and a Zacks Rank #3. The company is slated to witness bottom-line growth when it reports second-quarter fiscal 2024 results. The Zacks Consensus Estimate for J. M. Smucker’s quarterly earnings has remained unchanged over the past 30 days at $2.47 per share, suggesting growth of 2.9% from the year-ago quarter’s reported number. SJM delivered an earnings surprise of 7.3%, on average, in the trailing four quarters.
The Zacks Consensus Estimate for J. M. Smucker’s quarterly revenues is pegged at about $2 billion, which suggests a decline of 11.3% from the figure reported in the prior-year quarter.
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B&G Foods (BGS) Queued for Q3 Earnings: Things to Note
B&G Foods, Inc. (BGS - Free Report) will likely register top-and bottom-line decline when it reports third-quarter fiscal 2023 on Nov 8. The Zacks Consensus Estimate for revenues is pegged at $504 million, suggesting a drop of 4.6% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has remained unchanged in the past 30 days at 23 cents per share. The projection suggests a decline of 25.8% from the figure reported in the prior-year period.
The company, which manufactures, sells and distributes a portfolio of shelf-stable and frozen foods and household products, has a trailing four-quarter earnings surprise of 36.1%, on average. BGS posted an earnings surprise of 66.7% in the last reported quarter.
B&G Foods, Inc. Price and EPS Surprise
B&G Foods, Inc. price-eps-surprise | B&G Foods, Inc. Quote
Things To Note
B&G Foods is grappling with higher selling, general and administrative (SG&A) expenses, which has been putting pressure on its profits. We expect the metric to increase 1.3% to $ $48.1 million in the third quarter of fiscal 2023. Management continues to see inflation across most of its portfolio, although the pace of inflation has slowed.
The company has been struggling with lower volume, hurting its sales performance. Our model suggests a volume decline of 4% in the to-be-reported quarter. In addition, the company’s international presence keeps it exposed to unfavorable currency rates.
Nevertheless, efficient pricing has been offering some respite. B&G Foods’ focus on reshaping its portfolio, evident from its emphasis on making prudent acquisitions and strategic divestitures, bodes well.
What the Zacks Model Unveils
Our proven model does not predict an earnings beat for B&G Foods this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
B&G Foods currently carries a Zacks Rank #5 (Strong Sell) and has an Earnings ESP of -3.30%.
Some Stocks With a Favorable Combination
Here are some companies you may want to consider, as our model shows that these, too, have the right combination of elements to deliver an earnings beat.
Ollie's Bargain Outlet Holdings, Inc. (OLLI - Free Report) has an Earnings ESP of +3.75% and a Zacks Rank #2. The company is slated to witness top and bottom-line growth when it reports third-quarter fiscal 2023 results. The Zacks Consensus Estimate for OLLI’s earnings has remained unchanged in the past 30 days at 43 cents, suggesting growth of 16.2% from the year-ago quarter’s reported figure. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Ollie's Bargain’s quarterly revenues is pegged at about $468.8 million, which suggests a growth of 12.1% from the figure reported in the prior-year quarter. OLLI delivered an earnings surprise of 1.3%, on average, in the trailing four quarters.
International Flavors & Fragrances (IFF - Free Report) has an Earnings ESP of +7.43% and a Zacks Rank #3. The company is slated to witness a top-line decline when it reports third-quarter 2023 results. The Zacks Consensus Estimate for IFF’s quarterly revenues is pegged at around $2.8 billion, which suggests a decrease of 9.7% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for International Flavors & Fragrances’ quarterly earnings has moved down by 9.5% over the past 30 days to 76 cents per share, which suggests a decline of 44.1% from the year-ago quarter’s reported number. IFF reported a negative earnings surprise of 4.1%, on average, in the trailing four quarters.
J. M. Smucker (SJM - Free Report) has an Earnings ESP of +0.27% and a Zacks Rank #3. The company is slated to witness bottom-line growth when it reports second-quarter fiscal 2024 results. The Zacks Consensus Estimate for J. M. Smucker’s quarterly earnings has remained unchanged over the past 30 days at $2.47 per share, suggesting growth of 2.9% from the year-ago quarter’s reported number. SJM delivered an earnings surprise of 7.3%, on average, in the trailing four quarters.
The Zacks Consensus Estimate for J. M. Smucker’s quarterly revenues is pegged at about $2 billion, which suggests a decline of 11.3% from the figure reported in the prior-year quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.