Shares of B&G Foods fell 6.3% in Tuesday’s extended trading session after the food company reported lower-than-expected 4Q results. B&G Foods’ (BGS) 4Q adjusted earnings of $0.35 per share missed Street estimates by $0.10. Revenues of $510.2 million also came in significantly lower than the consensus estimate of $533.5 million. Nonetheless, the company’s top and bottom lines marked year-over-year improvements of 8.5% and 25%, respectively. The year-over-year growth reflects benefits from COVID-19 pandemic-led demand for its products, the Crisco acquisition, and an extra reporting week during the quarter. For fiscal 2021, B&G expects revenues to be between $2.05 billion and $2.10 billion.
https://www.tipranks.com/news/bg-foods-drops-over-6-on-4q-earnings-miss