B & G Foods Inc Stock Price, News & Analysis

B&G Foods (NYSE: BGS) has announced a quarterly cash dividend of $0.19 per share of common stock. The dividend will be paid on January 30, 2025, to stockholders of record as of December 31, 2024. Based on the closing market price on October 29, 2024, this represents an annualized yield of 8.6%. This marks the company's 81st consecutive quarterly dividend since its IPO in October 2004.

B&G Foods (NYSE: BGS) announced it will release its third quarter 2024 financial results after market close on Tuesday, November 5, 2024. The company will host a conference call at 4:30 p.m. ET on the same day, featuring President and CEO Casey Keller and CFO Bruce Wacha. Investors can access the earnings release and live audio webcast through the company's investor relations website, where a replay will also be available after the call.

B&G Foods (NYSE: BGS) has announced the full redemption of its remaining $265,392,000 5.25% senior notes due 2025. The redemption will occur on October 9, 2024, at a cash price of 100% of the principal amount plus accrued and unpaid interest. The company plans to finance this redemption using revolving loans from its existing credit facility and cash on hand. After the redemption date, interest on the notes will cease to accrue, and noteholders' only remaining right will be to receive the redemption payment. The Bank of New York Mellon Trust Company, N.A., the trustee for the notes, will send redemption notices to registered holders.

B&G Foods (NYSE: BGS) has announced its participation in the Barclays Global Consumer Staples Conference on September 4, 2024, in Boston, MA. The company will engage in a fireside chat starting at 11:15 a.m. Eastern Time. Investors and interested parties can access a live webcast of the session through the investor relations section of B&G Foods' website at www.bgfoods.com/investor-relations. For those unable to attend live, a replay of the webcast will be made available after the event concludes.

B&G Foods (NYSE: BGS) reported financial results for Q2 2024, highlighting the impact of the Green Giant U.S. shelf-stable divestiture. Key figures include net sales of $444.6 million, a 5.3% decline from Q2 2023, and a net income of $3.9 million, down 62.7%. Adjusted EBITDA decreased by 6.6% to $63.9 million. The first two quarters saw net sales of $919.8 million, a 6.3% decline, and a net loss of $36.3 million primarily due to a $70.6 million goodwill impairment charge.

In segment results, Specialty net sales fell by 4.7%, Meals by 5.5%, Frozen & Vegetables by 15%, while Spices & Flavor Solutions increased by 4.9%. The company revised its full-year 2024 guidance with net sales expected to range between $1.945 billion and $1.970 billion, adjusted EBITDA between $300 million and $315 million, and adjusted EPS between $0.70 and $0.90.

B&G Foods (NYSE: BGS) has declared a regular quarterly cash dividend of $0.19 per share of common stock. The dividend will be paid on October 30, 2024, to stockholders of record as of September 30, 2024. Based on the closing market price on July 30, 2024, this dividend rate represents an annualized yield of 8.8%. This marks the 80th consecutive quarterly dividend declared by B&G Foods since its initial public offering in October 2004, demonstrating a consistent commitment to shareholder returns.

B&G Foods (NYSE: BGS) has announced its upcoming second quarter 2024 earnings release and conference call. The company plans to issue a press release with financial results after market close on Tuesday, August 6, 2024. A conference call is scheduled for 4:30 p.m. ET on the same day to discuss the results. Casey Keller, President and CEO, and Bruce Wacha, Executive VP of Finance and CFO, will host the call. Investors can access the earnings press release and live audio webcast at the company's investor relations website. A replay of the webcast will be available after the conference call through the same link.

B&G Foods (NYSE: BGS) has completed a $250 million tack-on offering of 8.000% senior secured notes due 2028 and a refinancing of its senior secured credit agreement. The new notes, issued at 100.5% of face value, bring the total outstanding amount to $799.3 million. Proceeds were used to repay portions of tranche B term loans and revolving credit loans. The refinancing reduced tranche B term loans from $507.3 million to $450 million and extended their maturity date to October 2029. Additionally, $175 million of revolving credit loans were prepaid, and the facility's capacity was decreased from $800 million to $475 million, with its maturity extended to December 2028. Interest rates for the new loans will be based on chosen alternative rates plus applicable margins.

B&G Foods has partnered with NYC designer Made by Alex to launch the B&G Pickleball Bag x Made by Alex. This product, designed for pickle and pickleball enthusiasts, merges the iconic B&G brand with high-fashion craftsmanship.

Crafted from Italian leather and featuring a chenille-branded patch, the bag can hold two pickleball paddles and two pickleballs. Priced at $250, it is available for purchase on Made by Alex's website.

The collaboration aims to tap into the growing popularity of pickleball and blend it with the heritage of the B&G brand, which has been a staple in New York since 1889. This partnership is expected to capture the interests of handbag, pickle, and pickleball fans alike.

Frank Rinaldi, Sr. Director of Marketing & Sales Strategy at B&G Foods, expressed enthusiasm about the product's potential to become a summer must-have, while Alex Dabagh, Founder of Made by Alex, highlighted the synergy between the two brands.