What happened to Bega (BGA) shares today?
BGA +11.76%%: it was hardly an unblemished report from Bega, however, the dairy products company has performed well despite a number of headwinds facing the business over the last 12 months. EBITDA jumped 27% despite higher mil costs, supply chain disruptions and flooding impacting performance throughout the year, meeting analyst expectations. They also provided EBITDA guidance of $160-190m for FY23, in line with analyst expectations. Investors clearly enjoyed having some firm commentary about the year ahead, despite only meeting expectations, and the result appeared better than feared, helping to push the stock higher today.
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