OLLI - B&G Foods Ready to Report Q1 Earnings: What to Expect? | Benzinga
B&G Foods, Inc. (NYSE: BGS) is likely to see a top and bottom-line decline when it reports first-quarter 2024 earnings on May 8 after the closing bell. The Zacks Consensus Estimate for revenues is pegged at $484.7 million, which suggests a drop of 5.3% from the prior-year quarter's reported figure.
The consensus mark for quarterly earnings has remained unchanged in the past 30 days at 20 cents per share. This indicates a decrease of 25.9% from the year-ago quarter's reported figure. However, BGS has a trailing four-quarter earnings surprise of 23.8%, on average.
Factors to Note
The overall food industry has been grappling with category-wide challenges. Being no exception to this pressure, B&G Foods has been witnessing soft sales for the past few quarters. On its fourth-quarter earnings call, management highlighted that it continues to operate in a highly volatile landscape. Ongoing disruptions in crucial canal zones have had significant impacts on the global supply chain. Despite the company's relatively streamlined operational position compared to many of its counterparts, it continues to be impacted by these challenges.
Management's sales guidance for fiscal 2024 suggests a year-over-year decline, raising concerns for the quarter under review. Also, any persistence of elevated general and administrative expenses and consumer marketing costs may have impacted the ...