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Jun 29, 2024
B&G Foods Q2 2024 Earnings Report
Announced financial results, impacted by the Green Giant U.S. shelf-stable divestiture, for the second quarter of 2024.
Key Takeaways
B&G Foods reported a net sales decrease of 5.3% to $444.6 million for the second quarter of 2024, with diluted EPS at $0.05 and adjusted diluted EPS at $0.08. The company revised its full-year fiscal 2024 guidance, including net sales, adjusted EBITDA, and adjusted diluted earnings per share.
Net sales decreased by 5.3% to $444.6 million compared to Q2 2023.
Base business net sales decreased by 2.5% to $444.6 million.
Diluted EPS decreased to $0.05, a 66.7% decrease from Q2 2023.
Net sales on the highest margin Spices & Flavor Solutions business increased by 4.9% versus last year.
Revenue by Segment
Forward Guidance
B&G Foods revised its fiscal year 2024 guidance.
Positive Outlook
- Net sales revised to a range of $1.945 billion to $1.970 billion.
- Adjusted EBITDA revised to a range of $300 million to $315 million.
- Adjusted diluted earnings per share revised to a range of $0.70 to $0.90.
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
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