Earnings to watch: B&G Foods (BGS) reports Q3 results tomorrow

Packaged foods company B&G Foods (NYSE:BGS) will be reporting results this Tuesday after the bell. Here’s what you need to know.

B&G Foods missed analysts’ revenue expectations last quarter, reporting revenues of $383.3 million, down 9.7% year on year. It was a mixed quarter for the company, with full-year revenue guidance slightly topping analysts’ expectations.

Is B&G Foods a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting B&G Foods’s revenue to decline 1.6% year on year, improving from the 4.7% decrease it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. B&G Foods has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at B&G Foods’s peers in the shelf-stable food segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Conagra’s revenues decreased 1.4% year on year, meeting analysts’ expectations, and Hershey reported revenues up 3%, topping estimates by 0.8%. Conagra traded down 6.6% following the results while Hershey was up 1.1%.

Read our full analysis of Conagra’s results here and Hershey’s results here.

There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 6.2% on average over the last month. B&G Foods is up 2.2% during the same time and is heading into earnings with an average analyst price target of $3.60 (compared to the current share price of $2.49).

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