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Sep 28, 2024
B&G Foods Q3 2024 Earnings Report
Net sales decreased due to the Green Giant U.S. shelf-stable divestiture and a decrease in unit volume, while net income increased primarily due to non-cash charges recorded in the previous year.
Key Takeaways
B&G Foods reported a decrease in net sales for Q3 2024, primarily due to the divestiture of the Green Giant U.S. shelf-stable product line and a decrease in unit volume. However, the company's net income increased compared to the same period last year, mainly due to non-cash charges recorded in Q3 2023 related to the Green Giant U.S. shelf-stable divestiture.
Net sales decreased by 8.3% to $461.1 million compared to Q3 2023.
Base business net sales decreased by 4.4% to $461.1 million.
Diluted EPS increased to $0.09 compared to a loss of $1.11 in Q3 2023.
Adjusted EBITDA decreased by 12.5% to $70.4 million.
Revenue by Segment
Forward Guidance
B&G Foods revised its full year fiscal 2024 guidance.
Positive Outlook
- Net sales revised to a range of $1.920 billion to $1.950 billion.
- Adjusted EBITDA revised to a range of $295 million to $305 million.
- Adjusted diluted earnings per share revised to a range of $0.67 to $0.77.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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