B&G Foods Q1 net loss $40.2M; goodwill impairment $70.6M; lowers FY2024 guidance

B&G Foods, Inc.

2024-Q1 EPS reported -$0.51 revenue$475,223,000

Net loss $40.2M ($0.51 diluted EPS) vs net income $3.4M in Q1 2023; adjusted diluted EPS $0.18 vs $0.27.
Net sales $475.2M, down 7.1% YoY; base business net sales down 4.4%.
Goodwill impairment of $70.6M in Frozen & Vegetables segment triggered by segment restructuring.
Revised FY2024 guidance: net sales $1.955-$1.985B, adj. EBITDA $300-$320M, adj. EPS $0.75-$0.95.
Adjusted EBITDA $75.0M, down 8.9% from $82.4M; margin 15.8% vs 16.1%.

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 Full Year Fiscal 2024 results: revenue $1.955 billion to $1.985 billion, EPS $0.75 to $0.95.

Period: Full Year Fiscal 2024
Revenue: $1.955 billion to $1.985 billion
EPS: $0.75 to $0.95
Result: guidance update

Exact text from the filing

Guidance for Full Year Fiscal 2024 ● Net sales revised to a range of $1.955 billion to $1.985 billion. ● Adjusted EBITDA revised to a range of $300 million to $320 million. ● Adjusted diluted earnings per share revised to a range of $0.75 to $0.95.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

B&G Foods, Inc. reported first quarter of 2024 results: revenue $475.2 million, net income $(40.2) million, EPS $(0.51) per diluted share.

Period: first quarter of 2024
Revenue: $475.2 million
Net income: $(40.2) million
EPS: $(0.51) per diluted share
Result: reported results

Exact text from the filing

and clarify the portfolio for sharper focus and fit.” Financial Results for First Quarter of 2024 Net sales for the first quarter of 2024 decreased $36.6 million, or 7.1%, to $475.2 million from $511.8 million for the first quarter of 2023. The decrease was primarily attributable to the Green Giant U.S. shelf-stable divestiture, a decrease in net pricing, the impact

View on SEC.gov

708 earnings releases filed in the last 30 days. Browse all earnings releases →

B&G Foods, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-007335

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.