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B&G Foods misses 4Q profit forecasts

PARSIPPANY, N.J. (AP) _ B&G Foods Inc. (BGS) on Thursday reported fourth-quarter net income of $13.6 million.

The Parsippany, New Jersey-based company said it had profit of 20 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 29 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The food producer posted revenue of $413.7 million in the period.

For the year, the company reported profit of $109.4 million, or $1.73 per share. Revenue was reported as $1.39 billion.

B&G Foods expects full-year earnings in the range of $2.13 to $2.27 per share, with revenue in the range of $1.64 billion to $1.68 billion.

B&G Foods shares have climbed 7 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.90, a climb of 21 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


Keywords: B&G Foods, Earnings Report