Shares of B&G Foods, Inc. (NYSE:BGS) 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. (NYSE:DPS) 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 (NYSE:HSY) 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 (NYSE:KO) 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 (NASDAQ:AAPL) 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 >>
Coca-Cola Company (The) (KO): Free Stock Analysis Report
Dr Pepper Snapple Group, Inc (DPS): Free Stock Analysis Report
Hershey Company (The) (HSY): Free Stock Analysis Report
Procter & Gamble Company (The) (NYSE:PG
Original post