Blue Buffalo beats Wall Street forecast
On May 10, Wilton-based Blue Buffalo Pet Products Inc. reported first-quarter net income of $37.3 million, according to The Associated Press.
The healthy pet food company reported a profit of 19 cents per share, results exceeding Wall Street expectations. “The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share,” The Associated Press said.
The company said it accrued revenue of $279.8 million in quarter one, which also topped Wall Street forecasts. “Three analysts surveyed by Zacks expected $275.6 million,” The Associated Press said.
According to The Press, Blue Buffalo expects full-year earnings to fall in the range of 73 to 74 cents per share, with revenue within $1.13 and $1.14 billion.
Blue Buffalo shares have climbed 28% since 2016 began. The company went public in July 2015.