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PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — B&G Foods Inc. (BGS) on Wednesday reported a loss of $82.7 million in its third quarter.
The Parsippany, New Jersey-based company said it had a loss of $1.11 per share. Earnings, adjusted for one-time gains and costs, were 27 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The food producer posted revenue of $502.7 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $504 million.
B&G Foods expects full-year earnings in the range of 93 cents to $1.13 per share, with revenue in the range of $2.05 billion to $2.07 billion.
B&G Foods shares have decreased 22% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.71, a drop 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 Zacks stock report on BGS at https://www.zacks.com/ap/BGS