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Oct 03, 2020
B&G Foods Q3 2020 Earnings Report
B&G Foods reported strong growth in net sales and earnings, driven by increased demand due to the COVID-19 pandemic and an extra reporting week.
Key Takeaways
B&G Foods reported a 22.0% increase in net sales to $495.8 million and a 50.6% increase in net income to $46.8 million for the third quarter of 2020, benefiting from strong demand due to the COVID-19 pandemic and an extra reporting week.
Net sales increased by 22.0% to $495.8 million.
Diluted earnings per share increased by 50.0% to $0.72.
Net income increased by 50.6% to $46.8 million.
Adjusted EBITDA increased by 21.3% to $104.6 million.
Forward Guidance
For fiscal year 2020, B&G Foods expects net sales to be approximately $1.950 billion to $1.970 billion, adjusted EBITDA to be approximately $360.0 million to $370.0 million, and adjusted diluted earnings per share to be approximately $2.30 to $2.40.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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