B&G Foods Q1 net sales $511.8M (-3.9%); adj. EBITDA up 12.9% to $82.4M, reaffirms FY guidance

B&G Foods, Inc.

2023-Q1 EPS reported $0.05 revenue$511,814,000

Diluted EPS $0.05 (-85.3% YoY); adjusted diluted EPS $0.27 (-6.9% YoY).
Gross profit margin improved to 22.3% (19.0% Q1 2022) on pricing recovery.
Base business net sales down 1.2%; spices +9.6%, Green Giant -7.3%, Crisco -8.4%.
Net interest expense up 47.1% to $39.4M on higher variable rates; used $121M to prepay term loans.
FY 2023 guidance reaffirmed: net sales $2.13-2.17B, adj. EBITDA $310-330M, adj. EPS $0.95-1.15.

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 0.9

B&G Foods, Inc. reported first quarter of 2023 results: revenue $511.8 million, net income $3.4 million, EPS $0.05. Guidance reaffirmed.

Period: first quarter of 2023
Revenue: $511.8 million
Net income: $3.4 million
EPS: $0.05
Guidance: reaffirmed
Result: reported results

Exact text from the filing

reductions in key soybean and other commodities.” Financial Results for the First Quarter of 2023 Net sales for the first quarter of 2023 decreased $20.6 million, or 3.9%, to $511.8 million from $532.4 million for the first quarter of 2022. The decrease was primarily attributable to the Back to Nature divestiture, partially offset by the Yuma acquisition. Net sales

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Source: SEC EDGAR

accession 0001558370-23-008095

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