B&G Foods Q2 EPS $0.00; adjusted EBITDA down 35%; full-year guidance lowered

B&G Foods, Inc.

2022-Q2 EPS reported $0.34 revenue$1,011,372,000

Net sales of $479.0M (+3.1% YoY); diluted EPS of $0.00 vs $0.38 a year ago.
Adjusted diluted EPS of $0.07 vs $0.41; adjusted EBITDA $54.1M, down 35.4% due to inflation.
Full-year 2022 guidance: net sales $2.10-2.14B (reaffirmed), adj. EBITDA lowered to $300-320M, adj. EPS $1.08-1.28.
Credit agreement amended to temporarily raise max leverage ratio to 8.00x through Sep 2023.
Sold 2.74M shares under ATM for $63.2M gross proceeds ($23.08/share) in Q2.

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