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B&G Foods (BGS) Queued for Q2 Earnings: Key Things to Note
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B&G Foods, Inc. (BGS - Free Report) is likely to register top and bottom-line declines, when it reports second-quarter 2021 numbers on Aug 5. The Zacks Consensus Estimate for revenues currently stands at $437 million, suggesting a decrease of 14.8% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for earnings has remained stable over the past 30 days at 44 cents per share, which suggests a slump of 38% from the figure reported in the prior-year period. In the last reported quarter, B&G Foods posted a negative earnings surprise of 5.5%. This manufacturer, seller and distributor of shelf-stable and frozen foods, and household products has a trailing four-quarter earnings surprise of 1.1%, on average.
B&G Foods has been battling cost inflation for a while now. During the first quarter of fiscal 2021, the company saw low to mid-single-digit inflation on a blended basis in the basket of goods, with a notable spike in agricultural products and commodity associated input costs. Also, inflation in corrugated steel and aluminum led to the downside. Management on its last earnings call said that it expects to keep seeing input cost inflation for ingredients, packaging and transportation in fiscal 2021. Apart from these, the company’s SG&A expenses have been rising year over year for quite some time now. These factors raise concerns over the quarter under review.
That being said, the company is focused on undertaking cost-cutting efforts coupled with revenue-enhancing actions across many brands. B&G Foods is also benefiting from higher online sales, especially amid the pandemic. On its first-quarter earnings call, management highlighted that it expects e-commerce retail sales for fiscal 2021 to keep growing and come in at $275 million. E-commerce sales are accelerating with pace, mainly attributable to efficient delivery services of the company’s retail customers.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for B&G Foods this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
B&G Foods currently has a Zacks Rank #3 and an Earnings ESP of +6.82%.
Other Stocks With Favorable Combinations
Here are some other companies you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat this season.
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B&G Foods (BGS) Queued for Q2 Earnings: Key Things to Note
B&G Foods, Inc. (BGS - Free Report) is likely to register top and bottom-line declines, when it reports second-quarter 2021 numbers on Aug 5. The Zacks Consensus Estimate for revenues currently stands at $437 million, suggesting a decrease of 14.8% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for earnings has remained stable over the past 30 days at 44 cents per share, which suggests a slump of 38% from the figure reported in the prior-year period. In the last reported quarter, B&G Foods posted a negative earnings surprise of 5.5%. This manufacturer, seller and distributor of shelf-stable and frozen foods, and household products has a trailing four-quarter earnings surprise of 1.1%, on average.
B&G Foods, Inc. Price, Consensus and EPS Surprise
B&G Foods, Inc. price-consensus-eps-surprise-chart | B&G Foods, Inc. Quote
Key Factors to Note
B&G Foods has been battling cost inflation for a while now. During the first quarter of fiscal 2021, the company saw low to mid-single-digit inflation on a blended basis in the basket of goods, with a notable spike in agricultural products and commodity associated input costs. Also, inflation in corrugated steel and aluminum led to the downside. Management on its last earnings call said that it expects to keep seeing input cost inflation for ingredients, packaging and transportation in fiscal 2021. Apart from these, the company’s SG&A expenses have been rising year over year for quite some time now. These factors raise concerns over the quarter under review.
That being said, the company is focused on undertaking cost-cutting efforts coupled with revenue-enhancing actions across many brands. B&G Foods is also benefiting from higher online sales, especially amid the pandemic. On its first-quarter earnings call, management highlighted that it expects e-commerce retail sales for fiscal 2021 to keep growing and come in at $275 million. E-commerce sales are accelerating with pace, mainly attributable to efficient delivery services of the company’s retail customers.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for B&G Foods this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
B&G Foods currently has a Zacks Rank #3 and an Earnings ESP of +6.82%.
Other Stocks With Favorable Combinations
Here are some other companies you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat this season.
Medifast (MED - Free Report) has an Earnings ESP of +7.27% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kellogg (K - Free Report) currently has an Earnings ESP of +0.61% and a Zacks Rank of 3.
Tyson Foods, Inc. (TSN - Free Report) currently has an Earnings ESP of +11.17% and a Zacks Rank of 3.