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Sep 30, 2023
B&G Foods Q3 2023 Earnings Report
B&G Foods' Q3 2023 financial performance reflected strong margin recovery and the divestiture of the Green Giant U.S. shelf-stable product line.
Key Takeaways
B&G Foods reported a decrease in net sales by 4.9% to $502.7 million, primarily due to a decrease in unit volume and the Back to Nature divestiture. Diluted EPS was reported at $(1.11), while adjusted diluted EPS was $0.27. The company's net loss was $(82.7) million, but adjusted EBITDA increased slightly by 0.2% to $80.4 million.
Net sales decreased by 4.9% to $502.7 million.
Diluted EPS was $(1.11), and adjusted diluted EPS was $0.27.
Net loss amounted to $(82.7) million.
Adjusted EBITDA increased by 0.2% to $80.4 million, with adjusted EBITDA as a percentage of net sales increasing 80 basis points to 16.0%.
Forward Guidance
B&G Foods revised its net sales guidance for fiscal 2023 to a range of $2.05 billion to $2.07 billion, reaffirmed its adjusted EBITDA guidance at a range of $310 million to $330 million, and revised its adjusted diluted earnings per share guidance to a range of $0.93 to $1.13.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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