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Jun 27, 2020
B&G Foods Q2 2020 Earnings Report
Reported strong growth in net sales and earnings, driven by increased demand due to the COVID-19 pandemic.
Key Takeaways
B&G Foods reported a significant increase in net sales and earnings for the second quarter of 2020, primarily driven by increased demand for its products due to the COVID-19 pandemic. Net sales increased by 38.1% to $512.5 million, and net income increased by 146.1% to $44.9 million.
Net sales increased 38.1% to $512.5 million.
Base business net sales increased 33.9% to $496.9 million.
Diluted earnings per share increased 150.0% to $0.70.
Net income increased 146.1% to $44.9 million.
Forward Guidance
B&G Foods' management believes that net sales and adjusted EBITDA for full year fiscal 2020 will materially exceed the full year fiscal 2020 net sales and adjusted EBITDA guidance provided by management when the Company reported fiscal 2019 results in February 2020. The Company’s management is unable to fully estimate the impact the COVID-19 pandemic will have on the Company’s third quarter and full year fiscal 2020 results and therefore is unable at this time to provide guidance for the remainder of 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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