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B&G Foods (BGS) to Report Q1 Earnings: What's in the Cards?

B&G Foods, Inc. BGS is likely to witness a decline in the top line when it reports first-quarter 2023 earnings on May 4. The Zacks Consensus Estimate for revenues is pegged at $529.6 million, suggesting a dip of 0.5% from the prior-year quarter’s reported figure.

B&G Foods’ bottom line is likely to decline year over year. The Zacks Consensus Estimate for quarterly earnings has been stable in the past 30 days at 27 cents per share. The projection suggests a decline of 20.6% from the figure reported in the prior-year period.

We expect revenues to be down 0.4% year over year to $530.3 million and the bottom line to decline 10.8% to 26 cents per share.

The company, which manufactures, sells and distributes a portfolio of shelf-stable and frozen foods and household products, has a trailing four-quarter negative earnings surprise of 3.3%, on average. BGS posted an earnings surprise of 73.9% in the last reported quarter.

Things to Consider

B&G Foods has been battling cost inflation for a while now. On its last-quarter earnings call, the company stated that it expects inflation to continue. It had anticipated increased pressure on prices of tomatoes and glass among others. The company further cited that it continues to see increased prices of core commodities such as soybean oil, wheat and corn, to name a few. These factors raise concerns for the quarter under review.

B&G Foods has been on track to mitigate the impacts of inflation by undertaking cost-saving initiatives and increasing list prices. Apart from these, B&G Foods’ brand strength bodes well. The company 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, spices & seasonings, Cream of Wheat, Clabber Girl, Ortega and Maple Grove Farms have been yielding well for BGS.

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. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

B&G Foods, Inc. Price and EPS Surprise

B&G Foods, Inc. Price and EPS Surprise
B&G Foods, Inc. Price and EPS Surprise

B&G Foods, Inc. price-eps-surprise | B&G Foods, Inc. Quote

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BGS has an Earnings ESP of 0.00% and a Zacks Rank of 3.

Stocks with a Favorable Combination

Here are some companies, which according to our model, have the right combination of elements to post an earnings beat in the to-be-reported quarter.

TreeHouse Foods THS has an Earnings ESP of +19.75% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company is likely to register a top-line decrease when it reports first-quarter 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $849 million, which suggests a decline of 25.6% from the figure reported in the prior-year quarter.

The consensus estimate for TreeHouse’s quarterly earnings has moved up 5.4% in the past 30 days to 39 cents per share, suggesting growth of 360% from the year-ago quarter’s reported number. THS’ earnings beat the consensus mark in the trailing four quarters, delivering an earnings surprise of 48.8%, on average.

Kellogg K currently has an Earnings ESP of +0.17% and a Zacks Rank of 3. The company is likely to register an increase in the top line when it reports first-quarter 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.96 billion, which suggests a rise of 7.8% from the figure reported in the prior-year quarter.

The Zacks Consensus Estimate for K’s quarterly earnings has remained unchanged in the past 30 days at $1.00 per share. The consensus mark indicates a 9.1% decline from the year-ago quarter’s reported number. Kellogg delivered an earnings beat of 12.3%, on average, in the trailing four quarters.

Ollie's Bargain Outlet OLLI currently has an Earnings ESP of +0.06% and a Zacks Rank of 3. The company is likely to register a rise in the top line when it reports first-quarter fiscal 2023 results. The Zacks Consensus Estimate for OLLI’s quarterly revenues is pegged at $450.9 million, which suggests a jump of 10.9% from the figure reported in the prior-year quarter.

The consensus mark for Ollie's Bargain’s quarterly earnings has remained unchanged at 49 cents per share in the past 30 days. The consensus estimate for OLLI’s quarterly earnings suggests an increase of 145% from the year-ago quarter’s reported figure. Ollie's Bargain delivered a negative earnings surprise of 17.9%, on average, in the trailing four quarters.

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Kellogg Company (K) : Free Stock Analysis Report

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Ollie's Bargain Outlet Holdings, Inc. (OLLI) : Free Stock Analysis Report

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