B&G Foods is like Clorox that took huge advantage of the pandemic. As store shelves became empty during the lockdown B&G Foods products were just one of the first to be cleaned out from late customer’s sights. After toilet papers, food-related products were to be bought by feared crowds.
Therefore NYSE: BGS was growing not only in the stock market but in revenue as well. If the second wave of the COVID-19 comes BGS will skyrocket again since consumers want to buy many products before they become expensive.
Q2 2020 net income could significantly beat estimates of many analysts. Hence, BGS soared from $28.91 to $30.53 after financial results. Now it is nearly reaching $30 while its EPS is expected to grow higher in Q3 and Q4 of 2020.