B&G Foods Holdings is a prominent food manufacturing and distribution company that specializes in producing a wide range of packaged foods and consumer products
The company offers a diverse portfolio of well-known brands across various categories including snacks, frozen foods, and sauces, catering to both retail and food service markets. B&G Foods focuses on innovation, quality, and sustainability in its product offerings, aiming to meet the evolving tastes and preferences of consumers. With a commitment to operational excellence, the company actively seeks acquisitions to expand its brand portfolio and enhance its market presence.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Kellanova (NYSEK) and the best and worst performers in the shelf-stable food industry.
Consumer staples stocks are solid insurance policies in frothy markets ripe for corrections. The flip side is that they frequently fall behind growth industries when times are good,
and this perception became a reality over the past six months as the sector was down 7.9% while the S&P 500 was up 7.9%.
Extreme high-yielders seem appealing on the surface, but dangers lurk underneath the surface which could jeopardize the dividend payouts in the future.
Packaged foods company B&G Foods (NYSEBGS) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, but sales fell by 4.6% year on year to $551.6 million. The company expects the full year’s revenue to be around $1.92 billion, close to analysts’ estimates. Its non-GAAP profit of $0.31 per share was in line with analysts’ consensus estimates.
High dividend stocks are naturally appealing on the surface, due to their high dividend yields. But income investors need to make sure they do not fall into a dividend ‘trap’.
Looking back on shelf-stable food stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including B&G Foods (NYSEBGS) and its peers.
B&G Foods has gotten torched over the last six months - since June 2024, its stock price has dropped 29.7% to $6.74 per share. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Shareholders of B&G Foods would probably like to forget the past six months even happened. The stock dropped 26.5% and now trades at $6.75. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Shares of packaged foods company B&G Foods (NYSEBGS)
fell 19.4% in the afternoon session after the company reported underwhelming third-quarter earnings. Its sales and earnings missed Wall Street's estimates. Given the poor results, it lowered its full-year revenue and EPS guidance, suggesting the weaknesses recorded during the quarter might persist as management called out a slower-than-expected recovery in sales trends. While the weak trends partly explain the declining volumes during the quarter, the sale of the Green Giant U.S. shelf-stable product line also had a negative impact. Overall, this was a weaker quarter.
Packaged foods company B&G Foods (NYSEBGS) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 8.3% year on year to $461.1 million. The company’s full-year revenue guidance of $1.94 billion at the midpoint came in slightly below analysts’ estimates. Its non-GAAP profit of $0.13 per share was also 34.5% below analysts’ consensus estimates.
