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Jan 02, 2021
B&G Foods Q4 2020 Earnings Report
B&G Foods reported strong growth in net sales and earnings for Q4 2020.
Key Takeaways
B&G Foods reported an 8.5% increase in net sales to $510.2 million for the fourth quarter of 2020, driven by the Crisco acquisition, net pricing, and increased demand due to the COVID-19 pandemic. Diluted earnings per share increased 18.8% to $0.19, and adjusted diluted earnings per share increased 25.0% to $0.35.
Net sales increased 8.5% to $510.2 million.
Base business net sales increased 2.5% to $482.2 million.
Diluted earnings per share increased 18.8% to $0.19.
Adjusted diluted earnings per share increased 25.0% to $0.35.
Forward Guidance
For fiscal year 2021, net sales are expected to be approximately $2.05 billion to $2.10 billion.
Positive Outlook
- Net sales will be positively impacted by an additional eleven months of ownership of the Crisco brand
- Strong consumer demand for B&G Foods' products is expected to continue.
- Expect to see commensurate elevated levels of net sales throughout fiscal 2021.
Challenges Ahead
- Management is not able to fully estimate the impact COVID-19 will have on the Company’s fiscal 2021 results
- Unable at this time to provide more detailed guidance for fiscal 2021
- The ultimate impact of the COVID-19 pandemic on the Company’s business will depend on many factors
- Ability of the Company and its supply chain partners to continue to operate manufacturing facilities, distribution centers and other work locations without material disruption
- Whether and when the Company will be able to realize the expected financial results and accretive effect of the Crisco acquisition, and how customers, competitors, suppliers and employees will react to the acquisition
Historical Earnings Impact
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Avg. Return Before/After Earnings
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