B&G Foods lifts sales outlook as shares jump 31%

B&G Foods raised its full-year sales forecast and posted adjusted third-quarter earnings above analyst expectations, sending its shares up 31% to $3.48 by midday Wednesday. The stock has still fallen 19% this year.

Today, 22:04· Money Talk· 722 reads

The Parsippany, N.J.-based company said Tuesday it now expects full-year net sales of $1.76 billion to $1.8 billion. Its adjusted earnings forecast was unchanged at 57.5 cents to 67.5 cents a share. Before the results, FactSet-surveyed analysts had forecast $1.74 billion in sales and adjusted earnings of 54 cents a share.

For the third quarter, B&G Foods reported a net loss of $32.5 million, or 40 cents a share, compared with a loss of $19.1 million, or 24 cents a share, a year earlier. Adjusted earnings came to 21 cents a share, ahead of analysts’ 14-cent estimate. Revenue increased to $459.8 million from $439.3 million.

B&G Foods lifts sales outlook as shares jump 31%

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