BGG - Why Briggs & Stratton Stock Just Popped 14%
Shares of Briggs & Stratton (NYSE: BGG) are rising today, up 14.1% as of 2:30 p.m. EDT despite the engine maker reporting a pretty sizable loss in its fiscal first quarter 2020.
The reason: Though the small-cap company did lose money, Briggs & Stratton beat estimates.
Heading into earnings, analysts had predicted Briggs & Stratton would lose a whopping $0.72 per share (pro forma) on revenue of only $291.1 million. As it turned out, sales easily eclipsed that goal, coming in at $313 million, and the loss wasn't as big as feared, either -- only $0.67 per share.