Shares of B&G Foods, Inc. (BGS - Free Report) have gained more than 6% in after-hour trading on Oct 31, after the company reported third-quarter 2017 results.
Earnings and Revenue Discussion
Adjusted earnings per share of 55 cents beat the Zacks Consensus Estimate of 48 cents by 14.6%. Earnings however declined 1.8% from the year-ago quarter.
Total revenues of $408.4 million surpassed the Zacks Consensus Estimate of $396.2 million by 3.1%.
Revenues also increased 20.3% year over year. The spices & seasonings business (acquired in November 2016) and Victoria Fine Foods (acquired in December 2016) contributed $80.1 million approximately.
Net sales at the company’s base business increased 3.2% during the quarter driven by Green Giant frozen products, despite a challenging packaged foods industry.
Inside the Headline Numbers
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 10.5% to $94.1 million during the quarter.
Selling, general and administrative expenses increased 1.3% to $43 million from the prior-year quarter, primarily due to selling expenses and warehousing expenses.
B&G Foods ended the quarter with cash and cash equivalents of $22.6 million, as of Sep 1, 2017, compared with $28.8 million as of Dec 31, 2016.
B&G Foods, Inc. Price, Consensus and EPS Surprise
2017 Guidance
The company still expects 2017 adjusted earnings per share in the range of $2.03-$2.17. The Zacks Consensus Estimate for 2017 earnings per share is currently pegged at $2.13, reflecting year-over-year increase of 2.7%.
Net sales are expected between $1.660 billion and $1.685 billion ($1.64-$1.67 billion expected earlier). The Zacks Consensus Estimate for 2017 earnings per share is currently pegged at $1.68 billion, reflecting year-over-year increase of 20.6%.
Adjusted EBITDA is still projected in the range of $352.5 million to $367.5 million.
Zacks Rank & Peer Releases
B&G Foods currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dr Pepper Snapple Group Inc. reported third-quarter 2017 adjusted earnings per share of $1.10, missing the Zacks Consensus Estimate by 4.3%. Earnings were down 6% on a year-over-year basis owing to the recent hurricanes in United States, earthquakes in Mexico and a previously disclosed write-off of prepaid resin inventory.
The Hershey Company’s (HSY - Free Report) earnings and revenues beat the Zacks Consensus Estimate in third-quarter 2017. Growth in its core brands, successful innovation and progress in multi-year productivity, and cost-saving initiatives helped the company post better numbers.
The Coca-Cola Company (KO - Free Report) reported better-than-expected third-quarter 2017 results. Despite reporting flat soda volumes, the coal giant gained from higher demand for Sprite, tea and coffee. Again, cost-cutting initiatives led by the refranchising of its low-margin bottling operations helped it to come up with better numbers.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Shares of B&G Foods, Inc. (BGS - Free Report) have gained more than 6% in after-hour trading on Oct 31, after the company reported third-quarter 2017 results.
Earnings and Revenue Discussion
Adjusted earnings per share of 55 cents beat the Zacks Consensus Estimate of 48 cents by 14.6%. Earnings however declined 1.8% from the year-ago quarter.
Total revenues of $408.4 million surpassed the Zacks Consensus Estimate of $396.2 million by 3.1%.
Revenues also increased 20.3% year over year. The spices & seasonings business (acquired in November 2016) and Victoria Fine Foods (acquired in December 2016) contributed $80.1 million approximately.
Net sales at the company’s base business increased 3.2% during the quarter driven by Green Giant frozen products, despite a challenging packaged foods industry.
Inside the Headline Numbers
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 10.5% to $94.1 million during the quarter.
Selling, general and administrative expenses increased 1.3% to $43 million from the prior-year quarter, primarily due to selling expenses and warehousing expenses.
B&G Foods ended the quarter with cash and cash equivalents of $22.6 million, as of Sep 1, 2017, compared with $28.8 million as of Dec 31, 2016.
B&G Foods, Inc. Price, Consensus and EPS Surprise
2017 Guidance
The company still expects 2017 adjusted earnings per share in the range of $2.03-$2.17. The Zacks Consensus Estimate for 2017 earnings per share is currently pegged at $2.13, reflecting year-over-year increase of 2.7%.
Net sales are expected between $1.660 billion and $1.685 billion ($1.64-$1.67 billion expected earlier). The Zacks Consensus Estimate for 2017 earnings per share is currently pegged at $1.68 billion, reflecting year-over-year increase of 20.6%.
Adjusted EBITDA is still projected in the range of $352.5 million to $367.5 million.
Zacks Rank & Peer Releases
B&G Foods currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dr Pepper Snapple Group Inc. reported third-quarter 2017 adjusted earnings per share of $1.10, missing the Zacks Consensus Estimate by 4.3%. Earnings were down 6% on a year-over-year basis owing to the recent hurricanes in United States, earthquakes in Mexico and a previously disclosed write-off of prepaid resin inventory.
The Hershey Company’s (HSY - Free Report) earnings and revenues beat the Zacks Consensus Estimate in third-quarter 2017. Growth in its core brands, successful innovation and progress in multi-year productivity, and cost-saving initiatives helped the company post better numbers.
The Coca-Cola Company (KO - Free Report) reported better-than-expected third-quarter 2017 results. Despite reporting flat soda volumes, the coal giant gained from higher demand for Sprite, tea and coffee. Again, cost-cutting initiatives led by the refranchising of its low-margin bottling operations helped it to come up with better numbers.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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