B&G Foods Turns To Profit In Q2; Cuts FY14 Adj. EPS Outlook - Quick Facts

(RTTNews) - B&G Foods Inc. (BGS) Thursday reported second-quarter net income of $16.1 million or $0.30 per share, compared to net loss of $1.4 million or $0.03 per share in the same period last year.

Adjusted earnings for the quarter were $17.5 million, up from $17.3 million in the prior year quarter. Earnings per share for the latest second quarter were $0.33, same as last year. On average, five analysts polled by Thomson Reuters expected the company to earn $0.39 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased 26.1 percent to $202.89 million from $160.88 million last year, while three analysts expected revenues of $207.46 million.

For fiscal 2014, B&G Foods lowered its adjusted earnings to a range of $1.54 to $1.60 per share from its previous range of $1.59 to $1.65 per share. Analysts currently expect earnings of $1.61 per share.