B&G Foods misses by $0.02, reports revs in-line; guides FY22 EPS below consensus, reaffirms FY22 revs guidance; reduces annual dividend to $0.76/share from $1.90/share
Reports Q3 (Sep) earnings of $0.31 per share, excluding non-recurring items, $0.02 worse than the S&P Capital IQ Consensus of $0.33; revenues rose 2.6% year/year to $528.4 mln vs the $533.26 mln S&P Capital IQ Consensus.
Co issues guidance for FY22, sees EPS of $0.90-1.00 (down from $1.08-1.28), excluding non-recurring items, vs. $1.07 S&P Capital IQ Consensus; sees FY22 revs of $2.10-2.14 bln vs. $2.13 bln S&P Capital IQ Consensus.
Beginning with the dividend payment declared on November 8, 2022 and payable on January 30, 2023, the current intended dividend rate for the Company's common stock has been reduced from $1.90 per share per annum to $0.76 per share per annum.