Why B&G Foods Shares Are Trading Higher Today

B&G Foods BGS shares are trading higher on Wednesday after the company reported better-than-expected Q4 results.

B&G Foods reported quarterly earnings of $0.40 per share which beat the analyst consensus estimate of $0.22. The company also reported quarterly sales of $623.23 million which beat the analyst consensus estimate of $583.90 million.

For full-year 2023, the company expects sales in the range of $2.13 billion to $2.17 billion, adjusted EBITDA range of $310 million to $330 million, and adjusted EPS of $0.95 to $1.15.

Casey Keller, President and Chief Executive Officer of B&G Foods, stated, "B&G Foods' fourth quarter results and performance demonstrated strong recovery, reflecting the catch up of cumulative pricing actions against inflationary cost, a moderating inflationary environment, and the recovery of our higher margin spices & seasonings business. Net sales grew 9% in the fourth quarter behind pricing implementation and supply recovery, with margins improving versus the fourth quarter of last year. We expect to continue year over year margin recovery into fiscal 2023."

B&G Foods is an American branded foods holding company based in Parsippany, New Jersey.

BGS Price Action: B&G Foods has a 52-week high of $30.69 and a 52-week low of $10.91.

B&G Foods shares are up 29.5% at $16.40 at the time of publication, according to Benzinga Pro.