B&G Foods Q3 GAAP loss of $0.83 per share, cuts dividend 60% to $0.76 annual, lowers FY22 EBITDA guidance

B&G Foods, Inc.

2022-Q3 EPS reported -$0.51 revenue$1,539,768,000

GAAP net loss $59.6M (diluted EPS -$0.83) vs net income $20.7M (EPS $0.32) in Q3 2021.
Adjusted diluted EPS $0.31, down 43.6% YoY; adjusted EBITDA $80.2M, down 16.6% YoY.
Annual dividend cut from $1.90 to $0.76 per share; expects ~$54.5M in aggregate FY2023 payments.
FY2022 guidance: net sales reaffirmed $2.10-2.14B; adjusted EBITDA revised to $290-300M; adjusted EPS $0.90-1.00.
Recorded $103.6M non-cash impairment for Back to Nature assets held for sale.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

B&G Foods, Inc. reported Third Quarter of 2022 results: revenue $528.4 million.

Period: Third Quarter of 2022
Revenue: $528.4 million
Result: reported results

Exact text from the filing

Net sales for the third quarter of 2022 increased $13.4 million, or 2.6%, to $528.4 million from $515.0 million for the third quarter of 2021.

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B&G Foods, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-22-017147

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