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PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — B&G Foods Inc. (BGS) on Thursday reported first-quarter earnings of $3.4 million.
The Parsippany, New Jersey-based company said it had net income of 5 cents per share. Earnings, adjusted for pretax expenses and costs related to mergers and acquisitions, came to 27 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The food producer posted revenue of $511.8 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $528.2 million.
B&G Foods expects full-year earnings in the range of 95 cents to $1.15 per share, with revenue in the range of $2.13 billion to $2.17 billion.
B&G Foods shares have climbed 43% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.89, a fall of 43% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a BGS">Zacks stock report on BGS at https://www.zacks.com/ap/BGS