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Dec 28, 2019
B&G Foods Q4 2019 Earnings Report
Financial results were reported consistent with short-term and long-term plans, with pricing and cost savings initiatives offsetting inflation, complemented by net sales and earnings growth through new product innovation and accretive acquisitions.
Key Takeaways
B&G Foods reported a net sales increase of $12.1 million, reaching $470.2 million for Q4 2019. Diluted earnings per share were $0.16, with adjusted diluted earnings per share at $0.28. Net income stood at $10.3 million, while adjusted EBITDA increased by $11.0 million to $69.5 million.
Net sales increased by 2.6% to $470.2 million.
Diluted earnings per share were reported at $0.16.
Adjusted EBITDA increased 18.8% to $69.5 million.
The Clabber Girl acquisition contributed $25.2 million to net sales.
Forward Guidance
For fiscal year 2020, B&G Foods anticipates net sales between $1.660 billion and $1.680 billion, adjusted EBITDA in the range of $302.5 million to $312.5 million, and adjusted diluted earnings per share between $1.60 and $1.80.
Positive Outlook
- Net sales are expected to be approximately $1.660 billion to $1.680 billion.
- Adjusted EBITDA is expected to be approximately $302.5 million to $312.5 million.
- Adjusted diluted earnings per share is expected to be approximately $1.60 to $1.80.
- Net interest expense is expected to be approximately $98.0 million to $103.0 million (including cash interest payments which are expected to be approximately $94.0 million to $99.0 million).
- Capital expenditures are expected to be approximately $40.0 million to $45.0 million.
Challenges Ahead
- Cash taxes are expected to be approximately $10.0 million to $20.0 million.
- Depreciation expense is expected to be approximately $45.0 million.
- Amortization expense is expected to be approximately $19.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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