B&G Foods (BGS) Tops Q2 EPS by 11c; Reaffirms

B&G Foods (NYSE: BGS) reported Q2 EPS of $0.57, $0.11 better than the analyst estimate of $0.46. Revenue for the quarter came in at $306.4 million versus the consensus estimate of $316.56 million.

“The Green Giant business continues to exceed our profitability expectations, and as a result we have increased our full year guidance for adjusted EBITDA and adjusted diluted earnings per share. We expect to successfully complete the transition of the Green Giant business into our sales and distribution infrastructure by the end of the third quarter. During the transition services period we have reinforced our already very strong and dedicated workforce with a large collection of very talented and motivated individuals who we believe will not only help us “awaken the Green Giant” and bring the brand back to prominence through innovation, operational excellence and consumer awareness, but will also restore our base business to a growth trajectory in 2017,” said Robert C. Cantwell, President and Chief Executive Officer of B&G Foods.

GUIDANCE:

B&G Foods sees FY2016 EPS of $2.11-$2.21, versus the consensus of $2.12. B&G Foods sees FY2016 revenue of $1.39-1.42 billion, versus the consensus of $1.4 billion.

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

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