Loading...
•
Mar 30, 2024
B&G Foods Q1 2024 Earnings Report
B&G Foods' first quarter results reflected consistent margins and moderating inflation, with net sales declines driven by foodservice trends and increased promotion spending.
Key Takeaways
B&G Foods reported a net sales decrease of 7.1% to $475.2 million, driven by the Green Giant U.S. shelf-stable divestiture, lower net pricing, product mix, and decreased unit volume. The company had a net loss of $40.2 million, or $0.51 per diluted share. Adjusted EBITDA decreased by 8.9% to $75.0 million.
Net sales decreased by 7.1% to $475.2 million.
Base business net sales decreased by 4.4% to $475.3 million.
The company had a net loss of $40.2 million, or $0.51 per diluted share.
Adjusted EBITDA decreased by 8.9% to $75.0 million.
Revenue by Segment
Forward Guidance
B&G Foods revised its net sales guidance for fiscal 2024 at a range of $1.955 billion to $1.985 billion, revised its adjusted EBITDA guidance to a range of $300 million to $320 million, and revised its adjusted diluted earnings per share guidance to a range of $0.75 to $0.95.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...