PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — B&G Foods Inc. (BGS) on Tuesday reported second-quarter profit of $3.9 million.
On a per-share basis, the Parsippany, New Jersey-based company said it had net income of 5 cents. Earnings, adjusted for costs related to mergers and acquisitions and pretax expenses, came to 8 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 8 cents per share.
The food producer posted revenue of $444.6 million in the period.
B&G Foods expects full-year earnings in the range of 70 cents to 90 cents per share, with revenue in the range of $1.95 billion to $1.97 billion.
B&G Foods shares have decreased 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.66, a drop of 38% in the last 12 months.
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