B&G Foods Reports Strong Net Sales for First Quarter 2021
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B&G Foods (BGS) Misses Q1 EPS by 3c, Revenues Miss; Reaffirms FY21 Revenues Outlook
May 11, 2021 4:09 PM EDTB&G Foods (NYSE: BGS) reported Q1 EPS of $0.52, $0.03 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $505.1 million versus the consensus estimate of $526.37 million.
Executive Summary (vs. First Quarter of 2020 where applicable):
Net sales increased 12.4% to $505.1 million, driven by the Crisco acquisition and continued strong base business net salesDiluted earnings per share decreased 6.8% to $0.41Adjusted diluted earnings per share1 increased 13.0% to $0.52Net income decreased 4.3% to $26.9 millionAdjusted net income1 increased 16.7% to $34.1 millionAdjusted EBITDA1 increased 15.2% to $92.9 millionAdjusted EBITDA before COVID-19 expenses1 increased 18.5% to... More