PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — B&G Foods Inc. (BGS) on Tuesday reported third-quarter net income of $7.5 million, after reporting a loss in the same period a year earlier.
The Parsippany, New Jersey-based company said it had profit of 9 cents per share. Earnings, adjusted for one-time gains and costs, came to 13 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 $461.1 million in the period.
B&G Foods expects full-year earnings in the range of 67 cents to 77 cents per share, with revenue in the range of $1.92 billion to $1.95 billion.
B&G Foods shares have decreased 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.82, a drop of nearly 1% 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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