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B&G Foods (BGS) to Post Q2 Earnings: What's in the Cards?
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B&G Foods, Inc. (BGS - Free Report) is likely to witness year-over-year growth in the top line when it reports second-quarter 2022 earnings on Aug 4. The Zacks Consensus Estimate for revenues is pegged at $480.2 million, suggesting an increase of 3.4% from the prior-year quarter’s reported figure.
B&G Foods’ bottom line is likely to decline from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for quarterly earnings has been stable in the past 30 days at 26 cents per share. The projection suggests a decline of 36.6% from the figure reported in the prior-year period.
We expect the top line to be up 3% year over year to $478.3 million and the bottom line to decline 27.5% to 30 cents per share.
BGS manufactures, sells and distributes a portfolio of shelf-stable, and frozen foods and household products. B&G Foods has a trailing four-quarter negative earnings surprise of 8.6%, on average. BGS witnessed a negative earnings surprise of 12.8% in the last reported quarter.
Things to Consider
B&G Foods is constantly witnessing higher demand for its products as consumers continue to cook and bake at home, a trend fueled by the pandemic. BGS is focused on solidifying its brand portfolio through acquisitions of complementary branded businesses, developing new products, and utilizing its multiple channel sales and distribution system. Prudent buyouts like Crisco, Farmwise and Clabber Girl have been yielding well for BGS for a while. All these factors are likely to have contributed to BGS’ second-quarter 2022 sales performance.
However, B&G Foods has been battling cost inflation for a while. On its last earnings call, management highlighted that it expects to witness higher cost inflation for inputs, such as ingredients, packaging and transportation due to factors like the pandemic, the Ukraine war, weather conditions, supply-chain hurdles and the shortage of labor. These factors are most likely to have weighed on the bottom-line performance in the quarter under review.
What the Zacks Model Unveils
Our proven model does not predict 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, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
BGS has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks With Favorable Combinations
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Corteva (CTVA - Free Report) currently has an Earnings ESP of +0.20% and a Zacks Rank of 2. CTVA is likely to register an increase in the bottom line from the year-ago quarter’s finals when it reports second-quarter 2022 results. The Zacks Consensus Estimate for quarterly earnings has risen a penny to $1.47 per share in the past 30 days. The consensus mark for CTVA’s earnings suggests 5% growth from the year-ago quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
Corteva’s top line is expected to rise from the year-ago period’s tally. The Zacks Consensus Estimate for quarterly revenues is pegged at $6.2 billion, hinting at a 9.8% rise from the figure reported in the prior-year quarter. CTVA delivered an earnings beat of 22.3%, on average, in the trailing four quarters.
Kellogg (K - Free Report) currently has an Earnings ESP of +1.67% and a Zacks Rank of 3. K is likely to register an increase in the top line from the year-ago quarter’s reading when it reports second-quarter 2022 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.65 billion, implying a 2.7% rise from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for K’s quarterly earnings has been unchanged in the past 30 days at $1.05 per share. The consensus mark indicates a 7.9% decline from the year-ago quarter’s reported number. Kellogg delivered an earnings beat of 12.8%, on average, in the trailing four quarters.
Ollie's Bargain Outlet (OLLI - Free Report) currently has an Earnings ESP of +6.06% and a Zacks Rank of 3. OLLI is likely to register a rise in the top line when it reports second-quarter fiscal 2022 results. The Zacks Consensus Estimate for OLLI’s quarterly revenues is pegged at $457.5 million, suggesting a jump of 10% from the figure reported in the prior-year fiscal quarter.
The consensus mark for Ollie's Bargain’s quarterly earnings has been unchanged at 33 cents per share in the past 30 days. The consensus estimate for OLLI’s quarterly earnings suggests a decline of 36.5% from the year-ago fiscal quarter’s reported figure. OLLI witnessed a negative earnings surprise of 17.1%, on average, in the trailing four quarters.
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B&G Foods (BGS) to Post Q2 Earnings: What's in the Cards?
B&G Foods, Inc. (BGS - Free Report) is likely to witness year-over-year growth in the top line when it reports second-quarter 2022 earnings on Aug 4. The Zacks Consensus Estimate for revenues is pegged at $480.2 million, suggesting an increase of 3.4% from the prior-year quarter’s reported figure.
B&G Foods’ bottom line is likely to decline from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for quarterly earnings has been stable in the past 30 days at 26 cents per share. The projection suggests a decline of 36.6% from the figure reported in the prior-year period.
We expect the top line to be up 3% year over year to $478.3 million and the bottom line to decline 27.5% to 30 cents per share.
BGS manufactures, sells and distributes a portfolio of shelf-stable, and frozen foods and household products. B&G Foods has a trailing four-quarter negative earnings surprise of 8.6%, on average. BGS witnessed a negative earnings surprise of 12.8% in the last reported quarter.
Things to Consider
B&G Foods is constantly witnessing higher demand for its products as consumers continue to cook and bake at home, a trend fueled by the pandemic. BGS is focused on solidifying its brand portfolio through acquisitions of complementary branded businesses, developing new products, and utilizing its multiple channel sales and distribution system. Prudent buyouts like Crisco, Farmwise and Clabber Girl have been yielding well for BGS for a while. All these factors are likely to have contributed to BGS’ second-quarter 2022 sales performance.
However, B&G Foods has been battling cost inflation for a while. On its last earnings call, management highlighted that it expects to witness higher cost inflation for inputs, such as ingredients, packaging and transportation due to factors like the pandemic, the Ukraine war, weather conditions, supply-chain hurdles and the shortage of labor. These factors are most likely to have weighed on the bottom-line performance in the quarter under review.
What the Zacks Model Unveils
Our proven model does not predict 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, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
BGS has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks With Favorable Combinations
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Corteva (CTVA - Free Report) currently has an Earnings ESP of +0.20% and a Zacks Rank of 2. CTVA is likely to register an increase in the bottom line from the year-ago quarter’s finals when it reports second-quarter 2022 results. The Zacks Consensus Estimate for quarterly earnings has risen a penny to $1.47 per share in the past 30 days. The consensus mark for CTVA’s earnings suggests 5% growth from the year-ago quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
Corteva’s top line is expected to rise from the year-ago period’s tally. The Zacks Consensus Estimate for quarterly revenues is pegged at $6.2 billion, hinting at a 9.8% rise from the figure reported in the prior-year quarter. CTVA delivered an earnings beat of 22.3%, on average, in the trailing four quarters.
Kellogg (K - Free Report) currently has an Earnings ESP of +1.67% and a Zacks Rank of 3. K is likely to register an increase in the top line from the year-ago quarter’s reading when it reports second-quarter 2022 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.65 billion, implying a 2.7% rise from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for K’s quarterly earnings has been unchanged in the past 30 days at $1.05 per share. The consensus mark indicates a 7.9% decline from the year-ago quarter’s reported number. Kellogg delivered an earnings beat of 12.8%, on average, in the trailing four quarters.
Ollie's Bargain Outlet (OLLI - Free Report) currently has an Earnings ESP of +6.06% and a Zacks Rank of 3. OLLI is likely to register a rise in the top line when it reports second-quarter fiscal 2022 results. The Zacks Consensus Estimate for OLLI’s quarterly revenues is pegged at $457.5 million, suggesting a jump of 10% from the figure reported in the prior-year fiscal quarter.
The consensus mark for Ollie's Bargain’s quarterly earnings has been unchanged at 33 cents per share in the past 30 days. The consensus estimate for OLLI’s quarterly earnings suggests a decline of 36.5% from the year-ago fiscal quarter’s reported figure. OLLI witnessed a negative earnings surprise of 17.1%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.