B&G Foods Q2 adjusted EPS $0.15 vs $0.07 YoY; reaffirms FY guidance

B&G Foods, Inc.

2023-Q2 EPS reported $0.19 revenue$981,451,000

Net sales $469.6M (-1.9% YoY) driven by Back to Nature divestiture; base business net sales +0.1%.
Gross margin 21.8% vs 16.0% YoY, driven by pricing and moderating input costs; adjusted EBITDA $68.5M (+26.4%).
Adjusted diluted EPS $0.15 vs $0.07 YoY; net income $10.6M vs $0.3M.
Full-year guidance: net sales revised to $2.11-2.13B; reaffirmed adjusted EBITDA $310-330M and adj. EPS $0.95-1.15.
Repurchased $24.4M of 5.25% senior notes due 2025 at 95.74% of par, resulting in $0.8M pre-tax gain.

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 second quarter of 2023 results: revenue $469.6 million, net income $10.6 million, EPS $0.15 per diluted share. Guidance reaffirmed.

Period: second quarter of 2023
Revenue: $469.6 million
Net income: $10.6 million
EPS: $0.15 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

sheet with steady reduction in our net leverage.” Financial Results for the Second Quarter of 2023 Net sales for the second quarter of 2023 decreased $9.4 million, or 1.9%, to $469.6 million from $479.0 million for the second quarter of 2022. The decrease was primarily attributable to the Back to Nature divestiture. Net sales of Back to Nature , which the Company

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Source: SEC EDGAR

accession 0001558370-23-013221

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