B&G Foods Q3 net sales down 8.3% to $461.1M; FY guidance cut on slow recovery

B&G Foods, Inc.

2024-Q3 EPS reported -$0.37 revenue$1,380,886,000

Q3 diluted EPS $0.09 vs. ($1.11) YoY; adjusted diluted EPS $0.13 vs. $0.27.
Base business net sales fell 4.4% on unit volume decline of 4.7%.
Frozen & Vegetables segment sales down 19.7% (incl. Green Giant divestiture); segment EBITDA down 73.8%.
FY2024 guidance revised: net sales $1.92-1.95B, adjusted EBITDA $295-305M, adj. EPS $0.67-0.77.
Completed redemption of $265.4M of 5.25% senior notes due 2025 in October 2024.

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