Yahoo Finance B&G Foods (BGS) Readies for Q4 Earnings: Everything to Note
B&G Foods, Inc. BGS is likely to register a top-line increase when it reports fourth-quarter 2022 earnings on Feb 28. The Zacks Consensus Estimate for quarterly revenues is pegged at $586 million, suggesting a rise of 3.4% from the prior-year fiscal quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has dipped by a penny in the past 30 days to 23 cents per share. This indicates a drop of 41% from the figure reported in the prior-year fiscal quarter.
This frozen food and household product company has a trailing four-quarter negative earnings surprise of 23.5%, on average. BGS’ bottom line matched the Zacks Consensus Estimate in the last reported quarter.
B&G Foods, Inc. Price, Consensus and EPS Surprise
B&G Foods, Inc. price-consensus-eps-surprise-chart | B&G Foods, Inc. Quote
Factors to Consider
B&G Foods has been battling cost inflation like many other industry players. On its third-quarter earnings call, the company stated that it expects the input cost inflation to bear a significant impact industry-wide for the remainder of fiscal 2022.
Further, it anticipates significant cost inflation for inputs, such as ingredients, packaging, labor and transportation, to continue based on factors like the pandemic, the Ukraine war, weather conditions, supply-chain hurdles and the shortage of labor. These factors raise concerns for the quarter under review.
The company lowered its adjusted EBITDA view for fiscal 2022 to the $290-$300 million range on its last earnings call. Adjusted earnings per share in fiscal 2022 are envisioned to be 90 cents to $1.00.
B&G Foods has been on track to mitigate the impacts of inflation on the gross margin by undertaking cost-saving initiatives, increasing list prices and locking in prices via short-term supply contracts and advance commodities purchase agreements. Apart from these, B&G Foods’ brand strength bodes well.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for B&G Foods this time. 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.
B&G Foods has a Zacks Rank #5 (Strong Sell) and an Earnings ESP of +4.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some companies worth considering as our model shows that these have the right combination of elements to beat earnings this season.
Burlington Stores BURL has an Earnings ESP of +0.08% and a Zacks Rank #2. The Zacks Consensus Estimate for its fourth-quarter fiscal 2022 earnings is pegged at $2.71, calling for a 7.5% rise from the year-ago period figure. BURL has a trailing four-quarter negative earnings surprise of 0.6%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus mark for Burlington’s top line is pegged at $2.6 billion, suggesting a dip of 0.4% from the prior-year quarter’s reported figure.
The J. M. Smucker Co. SJM has an Earnings ESP of +1.97% and a Zacks Rank #3. The Zacks Consensus Estimate for its third-quarter fiscal 2023 earnings is pegged at $2.13, calling for an 8.6% decline from the year-ago period figure. SJM has a trailing four-quarter earnings surprise of 18.5%, on average.
The consensus mark for The J. M. Smucker’s top line is pegged at $2.2 billion, suggesting growth of 7.8% from the prior-year quarter’s reported figure.
Casey's General Stores CASY is likely to register top-line growth when it reports third-quarter fiscal 2023 results. CASY has an Earnings ESP of +14.04% and a Zacks Rank #3. The consensus mark for Casey's top line is pegged at $3.5 billion, calling for growth of 15.5% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for Casey's bottom line has increased from $1.45 to $1.67 in the past 30 days, indicating a decline of 2.3% from the year-ago period figure. CASY has a trailing four-quarter earnings surprise of 7.2%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The J. M. Smucker Company (SJM) : Free Stock Analysis Report
B&G Foods, Inc. (BGS) : Free Stock Analysis Report
Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report
Burlington Stores, Inc. (BURL) : Free Stock Analysis Report
