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Dec 28, 2024
B&G Foods Q4 2024 Earnings Report
B&G Foods reported a decrease in net sales and a net loss for the fourth quarter of 2024, primarily due to the Green Giant U.S. shelf-stable divestiture and significant impairment charges.
Key Takeaways
B&G Foods' fourth quarter 2024 results were in line or slightly above expectations, with net sales decreasing by 4.6% to $551.6 million and a net loss of $222.4 million, largely impacted by the Green Giant U.S. shelf-stable divestiture and $320.0 million in intangible asset impairment charges. Adjusted EBITDA saw a slight decrease of 0.8% to $86.1 million.
Net sales for Q4 2024 decreased by $26.5 million, or 4.6%, to $551.6 million compared to Q4 2023.
The company reported a net loss of $222.4 million for Q4 2024, a significant decrease from a net income of $2.6 million in Q4 2023, primarily due to $320.0 million in intangible asset impairment charges.
Adjusted diluted EPS for Q4 2024 was $0.31, an increase of 3.3% from $0.30 in Q4 2023.
Adjusted EBITDA for Q4 2024 was $86.1 million, a slight decrease of 0.8% from $86.8 million in Q4 2023.
Revenue by Segment
Forward Guidance
For fiscal year 2025, B&G Foods expects net sales to be between $1.890 billion and $1.950 billion, adjusted EBITDA to be between $290.0 million and $300.0 million, and adjusted diluted earnings per share to be between $0.65 and $0.75.
Positive Outlook
- Anticipated sequential improvement in the second half of fiscal 2025.
- Guidance for adjusted diluted earnings per share is positive, ranging from $0.65 to $0.75.
- The company expects to lap consumer purchasing changes following high inflation.
- Focus on managing costs and improving product mix to support profitability.
- Continued efforts to promote brand equity and develop new products.
Challenges Ahead
- Expected soft trends in the first half of fiscal 2025.
- Net sales guidance for FY 2025 ($1.890 billion to $1.950 billion) is lower than FY 2024 actuals ($1.9325 billion).
- Adjusted EBITDA guidance for FY 2025 ($290.0 million to $300.0 million) is lower than FY 2024 actuals ($295.4 million).
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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