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.
Looking back on shelf-stable food stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including B&G Foods (NYSE:BGS) 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.
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Shares of packaged foods company B&G Foods (NYSE:BGS)
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 (NYSE:BGS) 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.
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
