Crunching Numbers
Long only, dividend investing, media, telecom

B&G Foods Snacking Binge Gives Investors Indigestion

When B&G Foods (NYSE:BGS) reported full year earnings late last month it missed analyst estimates as well as the revised guidance it had re-issued less than four months earlier. The headline on the third quarter press release from October 17th stressed the reliability of its guidance:

B&G Foods Reports Third Quarter 2013 Financial Results

- Reaffirms Fiscal 2013 Guidance -

That release later stated "Adjusted EBITDA guidance remains at $187.0 million to $191.0 million for the full year." The fourth quarter came in at a record adjusted EBITDA for the second consecutive quarter ($50 million), but that only lifted the annual total to $184 million, more than 1.6% below the bottom end of the range and nearly 3.7%...

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