PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — B&G Foods Inc. (BGS) on Wednesday reported a first-quarter loss of $40.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Parsippany, New Jersey-based company said it had a loss of 51 cents. Earnings, adjusted for one-time gains and costs, came to 18 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The food producer posted revenue of $475.2 million in the period.
B&G Foods expects full-year earnings in the range of 75 cents to 95 cents per share, with revenue in the range of $1.96 billion to $1.99 billion.
B&G Foods shares have climbed 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.55, a drop of 25% 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
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