earnings
confidence high
sentiment negative
materiality 0.75
B&G Foods Q1 EPS drops 34.6% to $0.34; gross margin falls to 19.0% on input cost inflation
B&G Foods, Inc.
2022-Q1 EPS reported
$0.34
revenue$532,407,000
- Net sales up 5.4% to $532.4M; base business net sales up 5.6% to $532.2M.
- Diluted EPS $0.34 (down 17.1% YoY); adjusted diluted EPS $0.34 (down 34.6% YoY).
- Gross profit margin 19.0% vs 23.3% a year ago, hit by raw material and transportation cost inflation.
- FY22 guidance: adj. EBITDA $348-358M (down), adj. diluted EPS $1.65-1.75, net sales raised to $2.10-2.14B.
- Gain of $7.1M on sale of Portland, ME facility, partially offset by $2.2M closure costs.