Briggs & Stratton Earnings: BGG Stock Slides on Q2 Earnings Miss

BGG stock is sinking more than 11% after hours

Briggs & Stratton earnings (NYSE:BGG) were released late in the day on Wednesday and the company’s results were underwhelming as they were well below what analysts were calling for in their Wall Street consensus estimate, which led to BGG stock falling hard after the bell.

Briggs & Stratton EarningsFor its second quarter of its fiscal 2019, the gas engine manufacturer said it brought in a loss of $2.6 million, which amounted to roughly 7 cents per share. On an adjusted basis when considering non-recurring costs, the company’s earnings were higher at 20 cents per share.

However, Briggs & Stratton earnings were not in line with what Wall Street was calling for as the average estimate of three analysts who were surveyed was for earnings of 26 cents per share, according to a Zacks Investment Research poll. The Wauwatosa, Wi.-based company brought in revenue of $505.5 million for its second quarter, which did top the Wall Street consensus estimate.

Three analysts who were surveyed by Zacks were calling for the comp any to amass sales of $463.9 million. For its fiscal 2019, Briggs & Stratton sees its earnings as being in the range of $1.10 to $1.30 per share, while revenue is slated to be between $1.9 billion and $1.96 billion.

BGG stock had an afternoon to forget as the company’s shares were falling more than 11.2% after the bell on Wednesday following an earnings report that missed the mark. Shares had been declining about 3.4% during regular trading hours as the company geared up to report for its latest period.


Article printed from InvestorPlace Media, https://investorplace.com/2019/01/briggs-stratton-earnings-bgg-stock/.

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