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B&G Foods: 2Q Earnings Snapshot

PARSIPPANY, N.J. (AP) _ B&G Foods Inc. (BGS) on Thursday reported second-quarter net income of $8 million.

The Parsippany, New Jersey-based company said it had net income of 12 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 38 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 $388.4 million in the period.

B&G Foods expects full-year earnings in the range of $2.05 to $2.15 per share, with revenue in the range of $1.73 billion to $1.75 billion.

B&G Foods shares have dropped 12 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30.90, a fall of 12 percent in the last 12 months.


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