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B&G Foods: Q4 Earnings Snapshot

March 1, 2022 GMT

PARSIPPANY, N.J. (AP) _ B&G Foods Inc. (BGS) on Tuesday reported a fourth-quarter loss of $4.8 million, after reporting a profit in the same period a year earlier.

The Parsippany, New Jersey-based company said it had a loss of 7 cents per share. Earnings, adjusted for one-time gains and costs, were 39 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The food producer posted revenue of $571.8 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $585.4 million.

For the year, the company reported profit of $67.4 million, or $1.02 per share. Revenue was reported as $2.06 billion.

B&G Foods expects full-year earnings in the range of $1.70 to $1.85 per share, with revenue in the range of $2.07 billion to $2.13 billion.

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B&G Foods shares have dropped almost 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $29.31, a decrease of almost 5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BGS at https://www.zacks.com/ap/BGS