Welcome to our dedicated page for B & G Foods news (Ticker: BGS), a resource for investors and traders seeking the latest updates and insights on B & G Foods stock.
B&G Foods, Inc. manufactures, sells and distributes branded shelf-stable and frozen foods in the United States, Canada and Puerto Rico. News about BGS centers on quarterly results, dividend declarations, portfolio changes and brand activity across products such as vegetables, cooking oils, cereals, sauces, spices, seasonings, broths and stocks.
The company’s updates also cover acquisitions and divestitures within its packaged-food portfolio, including the completed addition of the College Inn and Kitchen Basics broth and stock brands. Brand-level announcements include consumer marketing for names such as Ortega, while financial releases discuss sales trends, pricing, volume, adjusted EBITDA and cash-flow measures.
B&G Foods (NYSE:BGS) is recalling 1,855 cases of Back to Nature Cheddalicious Cheese Flavored Crackers with a best by date of SEP 05 2022. Some boxes were mistakenly filled with animal-shaped crackers containing undeclared allergens (egg and milk). While there is no health risk for those without allergies, individuals with sensitivities may face serious reactions. No allergic reactions have been reported. The recall affects products distributed in several states, and consumers can return the product for a full refund.
B&G Foods has launched the Cinnamon Toast Crunch™ Creamy Cinnamon Spread, marking the first spreadable version of the popular breakfast cereal. Available nationwide, this new product follows the successful launch of the Cinnadust™ Seasoning Blend in 2020. The spread is versatile, designed for various culinary uses such as a topping or baking ingredient. The company aims to capitalize on consumer interest in innovative food products. For more details, visit www.ctcspread.com.
B&G Foods reported its financial results for the fourth quarter and full year 2021, revealing a net sales increase of 12.1% to $571.8 million in Q4. The Crisco acquisition drove growth, contributing $68 million to Q4 sales. However, the company faced challenges from COVID-19-related supply chain disruptions and input cost inflation. Full year net sales rose 4.5% to $2.056 billion, but base business net sales fell 8.3%. The company recorded a net loss of $4.8 million in Q4, with adjusted diluted EPS at $0.39. Future guidance expects net sales between $2.070 billion and $2.125 billion for 2022.
B&G Foods, Inc. (NYSE: BGS) has declared a quarterly cash dividend of $0.475 per share, payable on May 2, 2022, to shareholders of record as of March 31, 2022. This dividend signifies the 70th consecutive quarterly dividend since its IPO in October 2004. The current dividend rate reflects an annualized yield of 6.4% based on the market price as of February 28, 2022.
B&G Foods (NYSE: BGS) detailed the tax treatment for its 2021 dividends, distributing a total of $1.90 per share. Of this, 17.02% ($0.32) is considered a taxable dividend, while 82.98% ($1.58) is classified as a return of capital. Investors are advised to verify their 2021 tax statements with brokerage firms to ensure accuracy. For further details, visit B&G Foods' investor website.
B&G Foods, Inc. (NYSE: BGS) plans to release its fourth quarter and fiscal year 2021 financial results on March 1, 2022, after market close. A conference call with CEO Casey Keller and CFO Bruce Wacha will follow at 4:30 p.m. ET to discuss these results. The earnings press release and live audio of the call will be accessible via the investor relations website. B&G Foods is known for its extensive portfolio of over 50 branded food products distributed across the U.S., Canada, and Puerto Rico.
B&G Foods, owner of the Ortega brand, announced a partnership with St. Jude Children's Research Hospital to feature patient artwork on limited-edition Yellow Corn Taco Shells packaging. Since 2016, B&G has donated $2.4 million to St. Jude, including $700,000 in 2021 and an additional $350,000 in 2022. The initiative aims to promote awareness for childhood cancer and support St. Jude's mission. The featured art comes from a St. Jude patient, Victoria, who has undergone treatment for cancer. This partnership continues to enhance B&G's brand connection with meaningful social causes.
Green Giant has launched a unique campaign for Thanksgiving, transforming classic side dishes, green bean and corn casseroles, into ugly holiday sweaters. From November 10 to 17, consumers can enter a sweepstakes to win one of hundreds of limited-edition sweaters. In conjunction with this campaign, the brand will donate $1 to No Kid Hungry for each social media post using #PasstheCasserole, aiming for a total contribution between $25,000 and $50,000. The initiative emphasizes the brand's support for ending childhood hunger.
B&G Foods reported a 3.9% increase in net sales for Q3 2021, reaching $515.0 million, driven by the Crisco acquisition. Compared to Q3 2020, diluted earnings per share decreased 55.6% to $0.32, and net income fell 55.7% to $20.7 million. Adjusted EBITDA decreased 8.1% to $96.2 million. Additionally, base business net sales declined 10.5%. The company reaffirmed its full-year net sales guidance at $2.05 billion to $2.10 billion, with adjusted EBITDA guidance set at $358.0 million to $365.0 million.
B&G Foods, Inc. (NYSE: BGS) has announced a quarterly cash dividend of $0.475 per share, payable on January 31, 2022 to shareholders of record as of December 31, 2021. This dividend reflects an annualized yield of 6.1% based on the market price as of November 2, 2021. This marks the 69th consecutive quarterly dividend declared since the company's IPO in October 2004.