B&G Foods: Q4 Earnings Snapshot

PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — B&G Foods Inc. (BGS) on Tuesday reported fourth-quarter profit of $2.6 million.

On a per-share basis, the Parsippany, New Jersey-based company said it had net income of 3 cents. Earnings, adjusted for one-time gains and costs, were 30 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The food producer posted revenue of $578.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $573.4 million.

For the year, the company reported that its loss widened to $66.2 million, or 89 cents per share. Revenue was reported as $2.06 billion.

B&G Foods expects full-year earnings in the range of 80 cents to $1 per share, with revenue in the range of $1.98 billion to $2.02 billion.

B&G Foods shares have declined 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.40, a drop of 25% 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