B&G Foods shares rallied to a fresh record high Friday after the maker of frozen food products reported late Thursday Q2 adjusted earnings of $0.57 per share, up from $0.34 per share in the prior year period and higher than the $0.46 per share Street estimate provided by Capital IQ.
Net sales were $306.4 million, up from $193.6 million reported for the same period last year but fell short of the $316 million Street estimate.
For full year 2016, the company expects adjusted earnings to range from $2.11 to $2.21 per share on revenues of between $1.39 billion to $1.42 billion. The Street consensus calls for earnings of $2.20 per share on revenues of $1.4 billion.
