B&G Foods Q2 net sales down 5.3% to $444.6M; adjusted EPS $0.08; goodwill impairment $70.6M

B&G Foods, Inc.

2024-Q2 EPS reported -$0.46 revenue$919,813,000

Net sales $444.6M (-5.3% YoY); base business net sales -2.5%; diluted EPS $0.05 (-66.7%).
Adjusted diluted EPS $0.08 (-46.7%); adjusted EBITDA $63.9M (-6.6%).
First-half net loss $36.3M ($0.46 loss per share) due to $70.6M goodwill impairment in Frozen & Vegetables.
Full year guidance lowered: net sales $1.945B-$1.970B, adj. EBITDA $300M-$315M, adj. EPS $0.70-$0.90.
Completed $250M tack-on of 8.00% senior secured notes due 2028; refinanced credit facility extending maturities.

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