B&G Foods Reports Q4 and Full Year 2023 Results; Adjusted EBITDA Up 5.7% for the Year

B&G Foods, Inc.

2023-FY EPS reported -$0.89 revenue$2,062,313,000

Q4 2023 net sales were $578.1M, down 7.2% vs Q4 2022, impacted by Green Giant and Back to Nature divestitures.
Full year 2023 adjusted EBITDA rose 5.7% to $318.0M, with adjusted EBITDA margin improving to 15.4% from 13.9%.
Long-term debt decreased by $340.1M during fiscal 2023; net cash from operations increased by $241.8M.
Q4 2023 included $20.5M in non-cash impairment charges for brands Baker's Joy, Molly McButter, Sugar Twin, and New York Flatbreads.
FY 2024 guidance: net sales $1.975B-$2.020B, adjusted EBITDA $305M-$325M, adjusted diluted EPS $0.80-$1.00.

item 2.02 item 7.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

B&G Foods, Inc. updated its the fourth quarter and full year 2023 guidance (initiated).

Period: the fourth quarter and full year 2023
Guidance: initiated
Result: reported results

Exact text from the filing

B&G Foods Reports Financial Results for Fourth Quarter and Full Year 2023 — Net Cash Provided by Operating Activities Increased by $241.8 Million for Full Year 2023 — — Principal Amount of Long-Term Debt Decreased by $340.1 Million During Full Year 2023 — Parsippany, N.J., February 27, 2024—B&G Foods, Inc. (NYSE: BGS) today announced financial results for the fourth quarter and full year 2023.

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Source: SEC EDGAR

accession 0001558370-24-001833

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